Bull Run Narratives

Welcome to Blockchain Century. This is Philip on March 26th 2024 and the topic of this episode is Bull Run Narratives.

Each Bitcoin bull run has seen alt market surges defined by different narratives usually covering one or more specific market sectors.

In 2017, we came on the back of the Ethereum launch in 2015 which allowed for the explosion of the ICOs. We can look back on that period and see similarities with the dot-com boom and subsequent bust.

Bitcoin hit its top in December 2017 with alts shortly after that, and while Bitcoin saw gains of 4,500% overall from that run, even those were dwarfed with what was happening over in the alts.

Thinking of the similarity with the dot-com boom and bust, we then saw Bitcoin drop almost 90% over the following 12 months. While the same thing happened following the dot-com bubble burst, we have to remember that this is normal during the early stages of a tech revolution.

Looking back on the dot-com bubble, we had oil companies, well, prior to the dot-com bubble, we had oil companies, car manufacturers, and large retailers on the top of the Fortune 500. They were General Motors, Ford, ExxonMobil, and Walmart. And yet out of the rubble of the bust emerged the tech giants Apple, Google, Facebook, Amazon and so on.

The following crypto bull run was defined again by Bitcoin with DeFi and NFTs as the leading sectors which brings me on to this current bull run. As expected there are the layer 1s and layer 2s competing at the top end, Ethereum and Solana and so on but the strongest sectors are currently AI, gaming and meme coins.

The recent NVIDIA GTC AI conference in California highlighted the radical transformations in this space and this spills over into Blockchain technology.

While there are some very strong Blockchain AI projects, it's difficult to avoid the problem that the hardware is lagging to service such demand. D-PIN, which stands for Decentralized Physical Infrastructure Networks, are companies striving to resolve some of these issues.

The gaming sector is fascinating.

Current estimates have the space to be worth around $200 billion, with forecasts going as high as $800 billion by 2030.

And of course, finally, meme coins, which have a life of their own, but can simply no longer be scoffed at. Dogecoin, leading with a market cap of $26 billion,

Bull Run Narratives

We will be delving deeper into specific projects within each of these sectors, and subject to an investor's appetite in the risk-reward stakes of their portfolios, there are great gains to be had further down, so stay tuned for that.

Thank you for listening here at Blockchain Century, and please remember to subscribe at blockchaincentury.com.

Also please remember that this is for educational and informative purposes only and does not constitute financial advice.