Here’s why the stars are aligning for crypto and how Ethereum and Bitcoin could skyrocket

In a recent article, Nick Chong, an editor at CryptoSlate, wrote that analysts are starting to come to the conclusion that the stars are aligning for the crypto market, especially for Ethereum and Bitcoin.

Not since 2017 have so many bullish crypto narratives aligned at once: DeFi, Eth 2.0, the Halvening, gold rally, Fed repo, monetization of debt, institutions warming up, and the 2.5 year bear market ending. What more could you ask for?

It’s no secret the past few weeks have been tough for crypto investors. In March, Bitcoin fell off a proverbial cliff, tanking from $7,700 to a low of $3,800 in the span of a single day. Altcoins followed suit, actually falling even more than the market leader.

And as a result, millions of dollars worth of cryptocurrency were liquidated, sentiment hit rock bottom, and many traders and investors threw in the towel, accentuated by the recent decrease in the Bitcoin market’s liquidity.

The crypto stars are aligning

Cyrus Younessi, part of the Risk team at Ethereum-based DeFi application MakerDAO, summed up this cheery sentiment nicely when he published the crypto-viral tweet on Apr. 6, simply explaining that “not since 2017 have so many bullish crypto narratives aligned at once”:

The growth of decentralized finance (DeFi): DeFi’s growth, analysts say will dramatically boost crypto adoption as consumers pick up on the relatively-high interest rates these blockchain solutions provide.
The imminent arrival of Ethereum 2.0: The upgrade is slated to increase the blockchain’s efficiency in terms of transaction speeds, transaction throughput, and functionality. Researcher Justin Drake said earlier this year that he has “95 percent confidence we will launch in 2020.”
May 2020’s block reward halving: This has been seen as a decisively positive event. Per previous reports from this outlet, a quantitative model says the fair value of Bitcoin will rise to at least $55,000 in the wake of the event.
Gold’s rally over the past couple of weeks: Mike McGlone, an analyst at Bloomberg Intelligence, explained in an extensive report published this month that gold’s strength should act as a boon for Bitcoin and, thus, the rest of the cryptocurrency market.
Federal Reserve’s repo and open market operations: Analysts say that the Federal Reserve’s recent attempts to boost the economy by purchasing assets, injecting liquidity into the economy, and lowering interest rates are boosting the value proposition of a scarce asset like Bitcoin
Institutions are warming up to cryptocurrency and blockchain: Microsoft, E&Y, Square, and Fidelity are amongst the multi-billion-dollar firms that have announced crypto initiatives over recent months. Presumably, these initiatives will drive mass adoption over time.
And, to put a cherry on the top of the crypto cake, Bitcoin is emerging from a bear market.

As put best by Younessi, “what more you could ask for?”

Indeed, each of the trends that Cyrus identified is believed to have a positive impact on the value of cryptocurrencies. Meaning that when they’re collected, taking place all at once, Bitcoin, Ethereum, and other digital assets will experience a “perfect storm,” so to say.

A perfect storm that some, like legendary venture capitalist Tim Draper, believe will take Bitcoin into the six-figure price range, far above the doldrums that BTC is wallowing in today.

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