Safety Shot Inc., a healthy beverage company, is set to receive $25 million worth of BONK from the founding contributors of the Solana meme coin. By the end of the year, the company aims to acquire up to $115 million worth of the Solana meme coin.
I’ve been wrong so many times in crypto, and the way this market evolves, it’s damn hard—if not impossible—to be right too often. Still, there are certain patterns that keep repeating themselves over the years.
Now, although the current bull market for altcoins doesn’t mirror the 2021 one, nor does it seem to echo the 2017 one either, I’d still bet on the four-year cycles. Every bubble has to deflate or burst at some point.
The Bitcoin bubble has been inflating since 2009, and who knows how big it’ll get. Maybe it’ll overtake gold someday—who knows? One can only make assumptions.
Now...
My take on what we’re seeing lately in the market is that, while we probably won’t see an altcoin season like 2017 or 2021, I still believe that once ETH breaks above its previous all-time high, it’ll shift attention from BTC to the altcoin market.
It’s not like ETH will steal all the spotlight and BTC will stall, but while BTC steadily climbs to something like $200,000 as the cycle’s peak, altcoins will outperform. We’re already seeing early signs of altcoins getting some real attention, just like that quote from the intro of this post.
Man, how the hell does a serious company like Safety Shot bet $115 million on BONK? BONK is a meme coin, and meme coins are... well, the ultimate form of shitcoins. Sure, there are plenty of so-called utility blockchains that don’t do shit either, but meme coins...
I wouldn’t build a treasury out of any current meme coins in existence. Maybe DOGE... But Bitcoin feels way more trustworthy to me. Still, these are signs telling us the mania phase is coming.There are also quite a few influencers on Twitter, Michael Saylor included, claiming we won’t see a bear market in crypto anymore.
I couldn’t disagree more. We will have a bear market, just like every cycle. All we need to do for the rest of the year and early 2025 is capitalize on news driving FOMO and mania.You sell the FOMO, not buy it. We’ll get the chance to buy cheap Bitcoin again sometime in 2026 or 2027.
We’ll see... Have a great day and catch you next time.
Thanks for your attention,
Adrian
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