Why crypto experts say now is the time to buy amid market optimism
11/14/2024 05:38Crypto market forecasted to reach new highs, with massive gains expected as momentum builds.
The crypto market is on the cusp of a significant upswing, according to Host of CryptosRus, George Tung. Tung highlighted Bernstein's bullish research note and Standard Chartered's optimistic predictions, emphasizing that now is the time for investors to increase their crypto exposure.
"Welcome to the Crypto Bull market. Buy everything you can, don't fight this. Add crypto exposure ASAP," Tung quoted from the Bernstein note headline. He concurred, saying, "When you're in a bull market, you basically just buy, you want exposure no matter what. Because in a bull market, pretty much everything goes up."
Indeed since the election, most everything has been up. Bitcoin has rallied some 25% along with similar gains from Solana and Ethereum.
While acknowledging that the market isn't yet in a "full-blown bull market," Tung believes it's imminent. "We have very specific altcoins that are pumping, but pretty soon it's going to be everything. As bitcoin gets higher, retail fear of missing out hits (FOMO), all fear of missing out is going to hit, and everything's going to go wild," he explained.
On Wednesday, a memecoin Elon Musk had promoted (Peanut the Squirrel) completed a 4,000% rally since the election.
Tung also discussed Standard Chartered's prediction that the entire crypto market cap will rise to $10 trillion. "I said that, too. I feel like Standard Chartered, everyone else is now maybe watching my videos," he remarked. He added, "I've said $10 trillion very easily. I actually think $10 trillion is conservative. I think it could be higher than that. I think it could actually be like $20 trillion." Tung emphasized the potential massive gains in altcoins if the market reaches these levels.