NBX Warsaw: Bitcoin Steers the Bull Run, Leaving Memecoins Behind

Bitcoin, not memecoins, will continue to play a crucial role in driving the current bull run. This prediction was made by industry experts at the Next Block Expo in Warsaw, who discussed the major trends in the market cycle. Bitcoin remains the focal point and driving force of market sentiment in 2024, according to four experts interviewed by Cointelegraph. Adrian Zduńczyk, founder of The Birb Nest, a trading education platform, referred to historical data from previous halvings to support his belief that BTC will experience significant growth until 2025. He noted that from 2011 to the peak of 2013, the price of Bitcoin saw a staggering 9,000% increase. Zduńczyk also highlighted the 3,000% and 700% gains produced by Bitcoin in the 2017 and 2021 bullruns respectively, emphasizing the cryptocurrency’s role as a key indicator of market performance. Ben Yorke, Vice President of Ecosystem at WooX, an exchange platform, added that there is now regulatory clarity surrounding Bitcoin, citing the approval of Bitcoin ETFs in the U.S. and Hong Kong as examples. This validation from governments and institutions makes Bitcoin an attractive investment for young people worldwide. Yorke also mentioned the Lightning network and other functionalities that allow users to maintain full custody of their Bitcoin, which nullify criticisms of the cryptocurrency’s utility. Miko Matsumura, General Partner of Gumi Crypto, a cryptocurrency asset fund, echoed this sentiment and suggested that the development of infrastructure to improve Bitcoin’s usability for payments will attract more capital to the ecosystem. Zduńczyk further noted that the timing of regulatory greenlights for Bitcoin ETFs aligns with the seasonality of investment cycles, with the summer months often driving market performance. He also highlighted the historical trend of U.S. presidential elections influencing the performance of traditional markets and spilling over into Bitcoin. In conclusion, Bitcoin is expected to continue its dominance in the market due to the influence of ETFs and the halving, while memecoins are likely to take a backseat.