Veteran crypto investor Arthur Cheong believes the crypto market may be entering a new phase of growth, similar to the S&P 500 after the 2008 financial crisis.
Maturing Market
Cheong suggests that the extreme volatility and deep drawdowns that have characterized crypto in the past may become less frequent. Instead, he predicts a more stable and gradual growth pattern, similar to the stock market.
Selective Bull Markets
While the overall market may continue to grow, Cheong believes future bull markets will favor a smaller number of large-cap cryptocurrencies. He predicts that most altcoins will struggle to gain significant value.
Altcoins’ Path to Success
Cheong emphasizes that altcoins must find their own unique value propositions to succeed. He points to the potential impact of mass adoption on specific projects, such as Telegram’s TON blockchain.
BTC and ETH Undervalued
Cheong believes that Bitcoin (BTC) and Ethereum (ETH) are undervalued due to their regulatory clarity and appeal to traditional finance investors. He highlights the recent conclusion of the SEC’s investigation into Ethereum 2.0 as a positive sign for the cryptocurrency’s regulatory status.
