The Biggest Crypto Cycle Ever Has Already Quietly Started After a Huge Bitcoin and Ethereum Price Rally

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BitcoinBTC and Ethereum have added $400 billion to their market caps so far this year, with one analyst already predicting bitcoin’s price peak.

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Last week, the price of bitcoin topped $30,000 per bitcoin for the first time since June, but has since fallen along with Ethereum despite Bank of America naming it a “key driver of digital asset adoption” that surpassed $1 billion last month.

Now, analysts at brokerage firm Bernstein have said that a new “crypto cycle” has already begun for the price of bitcoin and ethereum, although this has not been fully appreciated.

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The price of bitcoin has risen so far this year along with the price of ethereum.

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It will be the “first crypto round to see participation from major institutional investors,” Bernstein strategists wrote in a report seen by Coindesk, featuring macro catalysts, a new bitcoin mining round and hardware upgrades. ‘Ethereum all contributing what they predict will create a new bull run in bitcoin and ethereum prices.

In March, two of the world’s largest financial institutions with a total of $14 trillion in assets under management quietly began laying the groundwork for the next bitcoin, ethereum and crypto price cycle.

Following the long-awaited Ethereum upgrade last week, Ethereum co-founder and spiritual leader of the project, Vitalik Buterin, has issued a stark warning about the future of the network which he says needs to be addressed before the next bitcoin, ethereum and crypto price rise.

“The opportunity to build a new institutional financial stack on the blockchain remains a worthy goal, and serious participants remain focused on the long term,” the researchers added.

FTX’s sudden and surprise implosion late last year marked the end of what analysts called “toxic crypto leverage” and taught crypto traders the need for decentralization and self-custody wallets.

Meanwhile, this year’s banking crisis that triggered a wave of outflows to money market funds and so-called systemically important banks has raised concerns about the “centralization of money”.

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The price of bitcoin has rebounded from its recent lows this year, sparking speculation about the new… [+] The bitcoin, ethereum and crypto price cycle could have started.

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“Any potential dislocation, whether on the credit side of the bank or the sovereign side, perfectly positions bitcoin as a safe-haven asset alongside gold,” analysts Gautam Chhugani and Manas Agrawal wrote, adding to a report. Bernstein earlier this month that it was “irrational”. “like gold and dislike bitcoin at this point in the macro cycle.

Earlier this month, analysts at JPMorgan said the banking chaos has vindicated many bitcoin, ethereum and crypto supporters and issued a bullish bitcoin price forecast as a “one-scenario hedge.” catastrophic”.

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