By The Daily Hodl - 1 year ago - Reading Time: 3 minutes
Here Are Ten Bullish Crypto Catalysts for Next Year, According to Coin Bureau
A popular crypto analyst is analyzing what potential bullish catalysts could rip crypto out of its current bear market in 2023.
The pseudonymous host of Coin Bureau known as Guy tells his 2.17 million YouTube subscribers that the U.S. Federal Reserve could be pausing its interest rate hikes in early 2023, which could offer some relief for crypto.
Another Fed-related potential catalyst Guy mentions is the possible surge in demand for stablecoins if energy shortages this winter continue to drive demand for the US dollar higher.
“When a country is experiencing energy issues, it must print more of its currencies to buy US dollars to buy the more expensive energy. As winter approaches, the demand for dollars from such countries is likely to increase. The Fed’s continued rate hikes will also increase USD demand. Citizens of foreign countries could start investing in stablecoins, therefore, to preserve their purchasing power as a result. This would benefit smart contract cryptocurrencies.”
Guy also says the rollout of central bank digital currencies (CBDCs) could indirectly benefit crypto. CBDC regulations could frighten wealthy individuals and institutions and cause them to divert some of their assets into crypto, according to the analyst.
Guy argues that the fourth potential catalyst is additional countries that may adopt Bitcoin (BTC) as legal tender. The analyst notes Tonga is planning to adopt BTC in the first half of 2023, which could drive other small countries to follow in their footsteps.
The analyst says another potential bullish catalyst is big tech’s adoption of crypto, mentioning Meta’s upcoming non-fungible token (NFT) integration, which he says will be “extremely bullish” for smart contract platforms.
The sixth potential bullish catalyst is Europe’s upcoming crypto regulations, as well as crypto regulations that will happen in response to FTX’s implosion, according to the analyst. Guy says regulations will make institutions more comfortable investing in crypto.
The next possible catalyst is if Ripple wins its legal battle against the U.S. Securities and Exchange Commission (SEC). If the SEC wins, it could set a “problematic legal precedent,” allowing the regulator to crack down on altcoins of all kinds, according to Guy.
“A victory against the SEC by Ripple is the best protection against this outcome for better or for worse.”
Other potential bullish catalysts for next year include the prospect that the World Health Organization (WHO) announces an official end to the pandemic, the possibility of the end of Russia’s war against Ukraine and the likelihood of crypto legalization in Hong Kong and Saudi Arabia.
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Original source: The Daily Hodl