Some of us have experienced the Bull runs of 2013, 2017, and now 2021. Most long term crypto veterans expect the bull run to end at the end of the year probably. But what if it never ends?
Throughout history, all the bull cycles were associated purely with the hype that ended up with selloff. I think this year's Bull Run is different.
Here is why:
Global Adoption
More and more places accept payments with Bitcoin and other cryptocurrencies
Institutional Recognition
Institutional investors and Billionaires like Grayscale, Michael Saylor, or Elon Musk and many others entering the space with loads of purchasing power.
I wouldn't expect them to dump pretty soon. Ok, we might have some selloff, but at the end of that, we probably won't see the prices as low as we see today.
Actual Use Cases And Projects Build On Blockchain
The key selling point here is creating the demand with actual use cases. Businesses having theirs token launched on Ethereum 4 years ago, today actually have a product. Let's take Enjin coin for example, and the partnership with Microsoft, there is going to be advertising push on the mainstream media!
I highly doubt in the next bear market (if there is one at all), the price of Enjin will go back to $0.40
Another one, Presearch. I expect this company to take a big chunk of advertising in the search engine space because its business model focuses on attracting regular users.
In short: PRESEARCH pays users for everyday searches using either browser extension on a computer or using a Presearch browser on their smartphone/tablet. As everybody does search the web, why not be paid for it in the background?
Advertisers will need to purchase PRE token and stake. The more they stake, the more traffic and exposure they will receive.
DeFi
Defi is going to be the biggest catalyst causing constant growth of value on the blockchain! Every day new projects are being launched on Ethereum and soon on other platforms . Uniswap, Yield Farming, Lending, Borrowing it will all be decentralized.
Banks will have no chance competing with DeFi that's for sure! Defi exposes how Banks have been ridiculing people with their fees for lending and returns for providing purchasing power to the Banks!
However, at the moment Ethereum as a platform is no better than Bank, I would put them in the same bracket and place an equal sign between!
I don't think that Ethereum gas fees will ever be as we expect it to be - looking at Zilliqa I highly doubt it. To swap a token on ZillSwap it costs around 2-7zil The default setting is set to 60zil min. They say it is difficult to establish the price and it is set to 60 to make sure the transaction will go through.
Ok, I get that. The current price of zil is $0.08 so 60zil = $4.8 to swap a token. What if the price of zil goes to $1 paying $60 for a token swap?
Summary
It might sound a little bit confusing as I have been praising blockchain and now talking against it. There needs to be an automated solution that keeps the price relatively low otherwise it only serves big transactions. Zilliqa has its governance token so users will be able to vote and decide to adjust the gas fee. We will see how it all goes.
Anyway, I think this time next year we should have more clarity on where this is all going, but from this year onward, I expect the value of blockchain to keep growing like Amazon.
