Early Crypto Investor Erik Voorhees Says the Next Bitcoin Bull Market Will Start When This Happens
The next bull market may be coming anytime between this year and 2026, suggested crypto veteran Erik Voorhees, but it will require some changes in the macro environment - as well as in people's minds.
Voorhees, who is the founder and CEO of crypto exchange ShapeShift, was a guest on the Bankless podcast episode published on January 2.
Replying to a question about when we'd get to see another bull run and all-time highs, Voorhees jokingly said that it wouldn't be 10 years, adding that he often talks with his "crypto OG" friends over barbecues when the markets would turn around - but that they're always wrong.
He stated, however, that,
"If it takes 10 years for the bull market to happen, probably the whole thing failed. [...] I would guess it's sometimes in the next 6 months to 3 years."
Certain things need to occur in order for the bull to return, Voorhees suggested. There is also some amount of time necessary "for people's minds to start changing and speculative cycles to return."
The CEO stated that,
"It also has a lot to do with the macro environment. So as long as the interest rates are held high, monetary conditions are tighter, it's gonna be a headwind. But [...] that will start changing in early to mid-next year. So, I wouldn't be surprised if bitcoin was at like 40K by the summer, that wouldn't surprise me at all. And that's like 2.5X from here, so that's a great return."
Voorhees had some lessons and warnings to share about both the bull and the bear markets - certain common denominators seen every time during each cycle.
Not unique to crypto, he said, but "when the bullishness is happening, people's skepticism and judgment fall way too low" and they're willing to accept anything. That is the time when "all the stupid
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