Four Symptoms of Crypto Mania Are Starting To Show
(Us rn) 👆
TL;DR
An increase in risk taking, mainstream figures entering into crypto, a jump in corporate spending, and increased political dialogue, suggest we’re nearing the ‘mania’ phase of the bull run.
Full Story
You know the signs that precedes rain?
There’s a smell in the air, wind starts to pick up, and the clouds get dark…
This is like the crypto bull run version of that.
There’s a ‘mania’ phase in the last leg of each crypto bull run that brings us to the four year cycle high.
It can last weeks. It can last months.
Either way — when it hits, things (price appreciation) tend to get crazy.
The symptoms of the mania phase include:
A massive increase in risk taking, mainstream figures entering in crypto, a jump in crypto-focused spending by corporations, and an uptick in political dialogue.
…and we’re starting to see these symptoms show themselves:
Increase in risk taking: volume and active traders just reached an all time high on the crypto betting platform, Polymarkets.
Mainstream figures entering crypto: Caitlyn Jenner and Iggy Azalea just launched their own memecoins.
Corporations spending big on crypto: we just got back from Consensus 2024, and across the three day conference, there was enough money being spent on parties to fund ten new projects.
An uptick in political dialogue: after the SEC pivoted and approved a slew of Ethereum ETFs, crypto is being framed by many on both sides as a potential election issue.
This doesn’t confirm or deny that we’re in the mania phase — looking at prices rn, we’d wager we’re still a ways off from it yet.
But there’s definitely a smell in the air, and the wind is certainly starting to pick up…