The chief investment officer of Ikigai Asset Management thinks that a setup never before seen in the history of crypto will push Bitcoin (BTC) and Ethereum (ETH) to fresh all-time highs (ATHs).
In a long thread on the social media platform X, crypto expert Travis Kling says that a confluence of factors is conspiring to fuel Bitcoin’s rally to a new all-time high.
“BTC has essentially a free walk to ATHs.
We just got spot BTC ETFs, which unlock safe access to BTC for trillions of dollars that haven’t previously had it.
The halving is a few months away.
The Fed is likely to cut rates multiple times this year. Stocks are at ATHs and look like they’re heading higher…
We can argue about the pace to ATHs (1H-24, 2H-24, 1H-25) and we can argue about how far beyond prior ATHs we’ll eventually go this cycle ($75,000, $90,000, $100,000, $120,000, $180,000), but the path to ATH looks incredibly straightforward.
Crypto will have to do very little ‘work’ to get BTC into the high $60,000s. It will likely just ‘happen’ because we have ETFs and the Fed is easing. We’ve never had a setup like that before.”
The halving, which cuts BTC miners’ rewards in half, is expected in April.
At time of writing, Bitcoin is worth $43,022.
Kling says that Ethereum also has the same setup. But instead of the halving, Kling says Ethereum relies on its burn mechanism which destroys a small amount of ETH with every single transaction.
The Ikigai executive also believes that a spot market ETH is likely to get approved within the coming months.
“The same setup as above is also essentially in place for ETH, just delayed by three-12 months.
For the exact same reasons that the SEC was forced to approve spot [BTC] ETFs (lost the Grayscale decision; court ruled that if you have BTC futures and BTC futures ETFs, you have to allow spot BTC ETFs), the SEC is forced to approve ETH ETFs.
We can argue about the timing of approval – March? Probably too early….
Click Here to Read the Full Original Article at Ethereum News – The Daily Hodl…
