Alexander Lorenzo argues crypto is still in a bull market driven by institutional adoption and retail euphoria. Bitcoin faces key resistance around $100K-$107K, while Ethereum offers asymmetric returns compared to gold. Institutions need peak retail excitement to extract value before the cycle ends.
The market is over for people that do not understand market psychology. See, this really looks like Bitcoin's top, and we should be done by now. According to the 4-year Bitcoin halving cycle, the market should have ended around the end of October, but we've been fighting. This is the $100K price level. We haven't broke below it. We actually bounced right here, then we actually rejected off the $107K. We've been just kind of fighting at this level for a while. But see, people have a really hard time understanding this concept. Crypto is the most lucrative form of money on the face of the planet. There's nothing that even compares. Look, look at the 10-year difference in multiples. Look at Ethereum, 4,000% increase, guys. Look at Bitcoin, 306%. Even the best producing stock in the world, 252x, right, is nothing compared to the 4,000x on Ethereum. This is what you call Asymmetrical. Say it with me: asymmetrical opportunity. See, it doesn't really matter, even though I highly doubt it'll break below $100K. It doesn't really matter if it breaks below $100K because at the end of the day, the highest multiples come from holding altcoins on the face of the planet. Even if the altcoins drop 90%, just like they did last cycle— Ethereum dropped 90%, Bitcoin dropped like, I think, 78%— but they still outcompeted and outproduced every form of investment on the face of the planet, including gold, which just broke all-time high. Look, gold everybody's freaking out about, it got a 3.9x in the past 10 years. Are you kidding me? Gold's not that good of an investment in comparison to Ethereum. People do not understand market psychology. This is the search term crypto over the past 5 years. As you can see over here in 2020 We have a lot of crypto search terms. Look at where we're at now. Ethereum and cryptocurrencies are becoming more popular than Bitcoin itself because there's more utilization, there's more development, there's more integration into the government. So essentially, we should see the hype for the search term crypto bypass its previous years, and we have not seen that trend. That means that the general public is not searching crypto. That means right now the adoption is only coming from institutions and big people with a lot of money. We call it smart money or whales or whatever you want to call it. But the thing is, they can't make money. These whales can't make money unless they extract value from the public. If you have a billion dollars, the question is, how do you double a billion dollars? Well, you get a billion dollars of other people to buy into your stuff. This is simple, simple economics. The rich get richer and the poor get poorer. They need to extract the money from somewhere The money needs to come from somewhere. If institutions are in the market now, we need peak euphoria. We need all the excitement to come in the market so we have the general people flying into crypto for them to sell their bags to the general public. The bull market's not over.
