Cartoon: Thawing
“Thawing” by Iantoons
This new cartoon illustrates how hopes of the end of the crypto winter are starting to become real.
There are a lot of crypto projects that have hibernated and investment funds that have not allocated capital over the last year, just to wait for the moment when the retail market comes roaring back.
The joy across the crypto world that arose from the SEC’s approval of 11 companies to offer spot Bitcoin ETFs was fuelled by the hope that other non-crypto holders will now start to join the party.
A narrative is starting to build that the momentum behind crypto, the upcoming Bitcoin halving, institutional interest in real-world asset tokenization, and the resurgence of Web3 gaming are all signs that we are moving into the next bull market.
A counter-narrative is that this is just the industry hyping itself up in the hope that the disinterested majority will notice, which also has some truth – notably, only 60 million Americans have a 401K that could benefit from the Bitcoin ETFs.
Despite the crypto industry believing that it is an alternative to the traditional economy, it is more likely to be macro events (such as lowering inflation and interest rates) that will set off the starting gun for a broader revival of higher risk assets.
You can find more Iantoons cartoons here.
