Thank you for sharing your perspective, I value thesis that are different than mine quite a lot in these days of the CT echo chamber, however I’m surprised by how US centric the perspective in this piece feels to me. Now being from the US myself, I am often guilty of this bias, but the line that particularly stuck out to me was something to the effect of ‘What new money is actually likely to come to market?’ I can think of several places in the world, whose governments don’t absolutely do everything possible to restrict their access to crypto, who haven’t participated in previous crypto cycles. Inflation in USD has been the most tame of nearly any currency these last few years. It has been particularly noticeable to everyone, crypto believer, or not. Imagine what that’s like when inflation is 20 or 30% year after year for your local currency, and access to USD or euro, is only on the black market with gouging exchange rates. Coinbase’s announcement this week that anyone can send money to anyone for free with a simple texted link might possibly have a larger impact on 2024’s crypto prices, then all three of the US-centric themes listed in your piece.
If these new entrants are truly new to crypto, I wouldn’t expect a lot of the developed country targeted coins, or obscure technical infrastructure/defi altcoins to gain much benefit, but I think anything in the top 30 market cap coins is fair game (especially stable, coins), plus potentially meme coins or culturally relevant coins/game tokens, might see some truly absurd gains.
It will be extremely interesting to see where increased adoption comes from in 2024. I very much enjoy your writing, look forward to reading anytime I see one pop-up!
hey kyle, i wondering why rate cuts is bearish...? isnt its good when gov QE then the money will rotate also in the market which stocks would be the first options... u mean berish cause at some point feds would go to QT?
Thank you for sharing your perspective, I value thesis that are different than mine quite a lot in these days of the CT echo chamber, however I’m surprised by how US centric the perspective in this piece feels to me. Now being from the US myself, I am often guilty of this bias, but the line that particularly stuck out to me was something to the effect of ‘What new money is actually likely to come to market?’ I can think of several places in the world, whose governments don’t absolutely do everything possible to restrict their access to crypto, who haven’t participated in previous crypto cycles. Inflation in USD has been the most tame of nearly any currency these last few years. It has been particularly noticeable to everyone, crypto believer, or not. Imagine what that’s like when inflation is 20 or 30% year after year for your local currency, and access to USD or euro, is only on the black market with gouging exchange rates. Coinbase’s announcement this week that anyone can send money to anyone for free with a simple texted link might possibly have a larger impact on 2024’s crypto prices, then all three of the US-centric themes listed in your piece.
If these new entrants are truly new to crypto, I wouldn’t expect a lot of the developed country targeted coins, or obscure technical infrastructure/defi altcoins to gain much benefit, but I think anything in the top 30 market cap coins is fair game (especially stable, coins), plus potentially meme coins or culturally relevant coins/game tokens, might see some truly absurd gains.
It will be extremely interesting to see where increased adoption comes from in 2024. I very much enjoy your writing, look forward to reading anytime I see one pop-up!
I don't know how to thank you, Kyle for all that you share and bringing all of us along with you. You are a true Uber Mensch!
Kyle for President! 🧡
Good outlook, keep up the good work man.
hey kyle, i wondering why rate cuts is bearish...? isnt its good when gov QE then the money will rotate also in the market which stocks would be the first options... u mean berish cause at some point feds would go to QT?
Great takes. Will look into MMX some more. Looks like a decent proxy play
nice, thanks for sharing. you're inspiring me to make plans and put them on paper :)
Great insight and this me reading this almost one year later !
Great thread !