Crypto May Replicate S&P 500’s Post-2008 Growth, According to Investor Arthur Cheong
Arthur Cheong, a seasoned crypto investor and CEO of DeFiance Capital. Suggests that the era of deep drawdowns and prolonged bear markets in digital assets may be fading.
In a message to his 169,400 followers on X, Cheong proposes that cryptocurrencies could be entering a more mature phase resembling the stock market’s post-2008 recovery. He envisions a future where bull markets no longer lift all cryptocurrencies uniformly. Indicating that most altcoins may not experience the massive rallies seen in previous cycles. Cheong emphasizes the need for altcoins to chart their unique paths for success. Highlighting the market’s path-dependent nature and the potential impact of mass adoption on specific projects like Telegram’s TON.
Despite ongoing regulatory concerns, Cheong believes that market conditions are poised to improve for crypto, particularly for Bitcoin (BTC) and Ethereum (ETH), which he views as undervalued due to their regulatory clarity and attractiveness to traditional finance (TradFi). He notes Consensys’ recent announcement regarding the conclusion of the SEC’s Ethereum 2.0 investigation, underscoring the ongoing evolution and regulatory developments within the crypto space.
Clever Robot News Desk 24th June 2024
