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What is Going on in Cryptocurrencies? Fundstrat Global Advisors

Fundstrat Global Advisors - Technical Strategy, Sluymer
  • The big picture: The three-to-five-year crypto outlook is strong. Our fundamental growth thesis combines elements of 1) emerging market growth play, 2) secular technology disruption trends, and 3) new digital gold emergence. Crypto EM global digital economies are a natural consequence of the fourth industrial revolution. DLT tech disruption is driving secular crypto industry growth. Crypto digital gold (cyber economy black gold oil equivalent) is powering new virtual products & services.
  • Catalysts approaching: Bitcoin is above its 200DMA. The halving is May 12th. Leverage is reentering markets. DeFi is seeing demand. Monetary and fiscal liquidity may spill over. Continued stock recovery or geopolitical shocks are positives.  
  • Risks remain: Prices are still somewhat fragile, with liquidity and spreads below pre-sell off levels. Miners may need to sell coins to offset lower revenue if prices fall. Existing supply pressure may outpace new supply reductions temporarily. 

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