Delphi Digital Foresees New Crypto Market Cycle
posted 15 Aug 2023
Kevin Kelly, Delphi Digital's co-founder, suggests the crypto market is entering a new cycle. He highlights the consistency in crypto market timings, from peak-to-trough bottoms to recovery durations.
Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles.
Kelly also draws parallels between Bitcoin's price peaks and the ISM Manufacturing Index.
Despite potential short-term setbacks, Kelly remains optimistic about the market's outlook for the next 12-18 months.
Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles.
Kelly also draws parallels between Bitcoin's price peaks and the ISM Manufacturing Index.
Despite potential short-term setbacks, Kelly remains optimistic about the market's outlook for the next 12-18 months.
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