In a detailed analysis by Ivan on Tech, the CoinSpeech team has gathered the most crucial insights from his latest video. Readers can find Ivan on Tech’s new video below.
Bitcoin’s Prolonged Consolidation
The cryptocurrency market, particularly Bitcoin, continues its lengthy phase of sideways movement. According to Ivan, “Bitcoin is still going sideways… it feels like this never ends.” However, a significant breakout is anticipated due to the prolonged consolidation phase we are currently experiencing. Ivan emphasizes, “After long consolidations, we have big breakouts.”
Biden Administration’s Crypto Stance
Political maneuvers have also added pressure to the crypto market. Ivan highlights, “Biden is wrecking us yet again,” discussing the president’s veto over a Congress-initiated rule aimed at easing SEC regulations on banks dealing with cryptocurrencies. Ivan’s realization stands clear: “One day he’s pro, one day he’s against, and you see yourself; it’s all about what they do at the end of the day, not what they speak about.”
Global Shift to Pro-Business Policies Expected
Ivan predicts a significant shift in global politics and economics reminiscent of the Carter to Reagan era. He suggests that the focus will move towards “less regulation, more focus on economic growth,” as countries need to remember that money has to come from somewhere and emphasize production.
China’s Exponential Growth in High-Tech Production
Ivan notes how China has excelled in various industries, particularly electric vehicles, to the extent that even with a 100% tariff, Chinese cars are still cheaper than many US-made vehicles. He uses this to illustrate how a focus on production can yield commendable results.
AI, Gaming, and Crypto Synergy
Emerging technologies like AI and gaming are expected to flourish. Ivan believes that AI will experience a “dot-com boom” and that gaming will increasingly shift to Web3. He underscores the importance of crypto in ensuring decentralization in these rapidly evolving sectors, stating, “Crypto will be absolutely necessary for AI for us to have any kind of decentralization.”
Trends in Global Crypto Adoption
Despite recent market stagnation, there are positive signs of growing global adoption. Ivan notes, “6.8% of the world population owning and using digital currencies,” suggesting a future where being bearish might not pay off.
Major Institutional Moves in Crypto
Bitcoin ETFs are becoming a focal point again, this time with Ethereum following suit. Ivan discusses how players like Franklin Templeton are setting the stage by disclosing fees for potential Ethereum ETFs. “Just below the surface, a lot of things are happening. Crypto is developing like never before.”
Innovations and Real-World Adoption
Several projects in the crypto space are making big strides, indicating a robust undercurrent of innovation. Ivan brings attention to multiple projects like the ZkEVM chain, gasless chains like Sekuro, and ecosystems built around real adoption scenarios – from tokenized real estate to seamless integrations with mainstream brands.
Revisiting Traditional Crypto Strongholds
Interestingly, old projects like EOS are showing signs of life with new initiatives. For instance, EOS plans to cut its market cap by 80%, aiming for a significant revival.
Emerging Protocols in Gaming and Defi
Ivan mentions new gaming projects like “Engines of Fury” and Defi ecosystems on Bitcoin launching protocols like Tap, which promises to improve upon existing standards.