Crypto Veteran Erik Voorhees Predicts Next Bull Market, Highlights 2022’s Key Lesson

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Crypto veteran Erik Voorhees predicts when Bitcoin (BTC) will begin its next bull run while looking ahead to 2022.

In a new interview with the Bankless podcast, Voorhees says it won’t take another decade for a crypto bull market.

The CEO of ShapeShift claims that Bitcoin could climb almost 140% from its current value as early as this summer. At the time of writing, Bitcoin is changing hands at $16,703.

It won’t be 10 years. If it takes 10 years for the bull market to happen, everything has probably failed. So I’m happy to delineate it that way. I guess it’s over the next six months to three years. I think that’s usually the time it takes for people’s minds to start changing and for speculative cycles to come back.

Voorhees says macroeconomic conditions need to improve and the Federal Reserve likely needs to adopt a less hawkish stance for a price spike to occur, which he says could begin in the coming months.

It also has a lot to do with the macro environment. As long as interest rates are high and monetary conditions are tighter, it will be a headwind. It will start to change from start to middle [2023]. So I wouldn’t be surprised if Bitcoin was around $40,000 this summer. That wouldn’t surprise me at all. And it’s like 2.5x from here. So that’s a great comeback.

Voorhees also says that one of the big lessons from 2022, which has seen many major collapses of centralized entities and the loss of user funds, is the importance of self-custody of digital assets.

That lesson that people always need to learn is the dangers of custodial swaps and custodial wallets. This is not a new lesson. This is the one we must continue to teach. And I don’t expect people new to crypto to jump straight into self-custody. But certainly anyone who has been in the industry for a little while and is learning some of these things needs to understand how to use basic self-guard.

MetaMask has actually done the most to help people take care of anyone and they do that not to mention self-care. They have just created a great product and have attracted millions of users to self-hosted wallets. It’s fantastic.

But that lesson is really that, because if the majority of crypto funds and crypto wealth resides with intermediaries: A) we will never escape the regulation that this stuff is supposed to escape and B) we don’t. never escape the need to trust humans. ”

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