Is another altcoin season on the horizon? Prominent cryptocurrency influencer and entrepreneur EljaBoom doesn’t think so. AltCoinDesk had the opportunity to speak with the Guinness World Record holder on Day 1 of the Global Blockchain Show in Abu Dhabi, UAE.
In this interview with EljaBoom, AltCoinDesk touches on some of the most burning questions in the digital assets space, such as the timing of the highly anticipated ‘altseason’, on-chain metrics to track to benefit from an upcoming market narrative, underestimated sectors in the industry, and a lot more.
Where are we in the current crypto cycle?
EljaBoom was blunt in sharing his thoughts about the current state of the cryptocurrency market. He said that the industry has changed a lot with the entry of institutions into the space, so there will be no more altseasons.
He remarked that earlier, the cryptocurrency industry did not have any big institutions like BlackRock and other similar market decision-makers. He added that today, investors should view altcoins based on their utility instead of the phase of the cycle.
In general, I don’t see altseasons happening like before anymore.
Source: EljaBoom, Co-founder, Okse
Is the Bitcoin four-year cycle dead?
When asked if he agrees with CZ’s recent statement at Bitcoin MENA that the Bitcoin four-year cycle is dead, EljaBoom said that while he largely shares the sentiment, there are some other factors to consider.
The crypto influencer referred to the US Federal Reserve (Fed) Chair Jerome Powell getting replaced by a pro-crypto individual, which will be bullish for the digital assets industry. He said that following the appointment of the new Fed Chair, every asset class – stocks, gold, crypto, and real estate – will witness significant price appreciation.
However, after the bull market, the world will experience the so-called great depression that many economists are talking about.
Eljaboom shares ‘alpha’ to identify narrative before it explodes
The next question AltCoinDesk asked EljaBoom was about what on-chain indicators he likes to track before a narrative explodes in the industry. However, he gave a completely unexpected answer – regulations.
EljaBoom emphasized that the ‘alpha’ in the current crypto market cycle is regulations. As the industry gets increasingly regulated, there is a significant number of users who are choosing to pivot to decentralized finance (DeFi).
He cited the examples of the rising popularity of crypto perpetual trading platforms like HyperLiquid and Aster, suggesting users’ reluctance to use centralized platforms.
EljaBoom also noted that investors might be underestimating the potential of the real-world assets (RWAs). Specifically, he highlighted the DESK token, a fully licensed RWA token.
Predictions for 2030 and final thoughts
EljaBoom made the prediction that BTC will be around $1 million by 2030. He noted that institutional investors in the space not only have a bigger appetite for Bitcoin but also have the ability to hold it for a long time, which enables them to withstand market volatility.
The crypto entrepreneur concluded by sharing tips for retail traders about having an ‘exit plan’ after making profits on a token. He noted that the biggest hurdle that retail investors get trapped by is emotions.
