Can CRO cryptocurrency token by crypto.com ever hit $1.60? This would depend on a couple of factors, most importantly
Crypto.com needs to survive the bear / winter market
I am not delusional or high on hopium.
We are in a winter and bear market, one of the most brutal one ever.
More importantly, as long as crypto.com did not do any funny money games or engineering like how 3AC, Celcius, FTX did, they should be overall okay. In fact, if they survive and keep at their pace of
- continuing to do the job of pushing for crypto mainstream
- continue to push for legislation and regulation at the forefront
- continue to be faithful to the basic of introducing and managing crypto purchases for retail
- continue to build good products for new and current users
- continue to advertise, advocate and build the business
they should be more than fine.
This is the basics.
Bull market for crypto
This is easier said than done, crypto is very tied to equities market. In fact, I liken them very closely to growth / tech stocks similar to
- Zoom
- Netflix
- etc
These kind of growth / tech stocks take a very brutal beating when it comes to winter / bear markets, and conversely, tends to rocket during bullish markets and sentiments.
So…when bullish markets?
The degen will call this “wen lambo?”.
Some speculate that bitcoin and crypto rally will happen during the next BTC halving, but I doubt it. MAJORITY of Bitcoin is already mined (19 million out of 21 million mined).
I’m betting that bullish market is when cheap or free money is available in the market. Ie, interest rates needs to go low for cheap and free money to enter all equities, growth stocks…and crypto.
I dont have a crystal ball, but we can look back at history: most financial depressions recover within 1-2 years. The only macro-economic stuff that may throw a wrench and delay or convolute stuff are:
- Russia’s Putin annoying invasion into sovereign Ukraine
- China’s stance on Taiwan, and if they invade Taiwan
- other major events
That’s the only uncertainty.
Other than that, I was certain that post-COVID, the world would want to catch up to normal life, other than Russia’s Putin deciding to invade their neighbour. So, we now wait for Russia to be totally defeated, withdraw entire and/or Putin’s death.