The founder of DeFiance Capital, a crypto investment fund, tweeted that the bear market of 2022-2023 has officially ended. He provided six reasons to support this claim:
The worst macroeconomic tightening has passed, with a decrease in CPI and positive real interest rates. There is a higher likelihood of interest rate cuts next year.
Institutional acceptance of cryptocurrencies as an asset class is growing, starting with BlackRock's application for a Bitcoin ETF.
If even tokens that were considered likely to be classified as securities cannot be defeated by the SEC, the chances of the SEC labeling all tokens as securities are significantly reduced.
Most retail investors have been eliminated, and unless there are clear unlock schedules, those who still hold are unlikely to sell in the short term.
The market is significantly under-allocated to assets other than BTC and ETH, and there is much to be done in terms of diversification.
Hong Kong's embrace of cryptocurrencies is real and opens the door for Asian financial institutions to enter the crypto space in a legitimate way.
Please note that the views expressed in the tweet represent the opinion of the individual and should not be taken as financial advice. Investors are encouraged to conduct their own research and consult with professionals before making investment decisions.
It has been reported that DeFiance Capital, previously referred to as a subsidiary fund and asset class of Three Arrow Capital, focused on investing in GameFi projects. Following the closure of Three Arrow Capital, DeFiance Capital released a statement clarifying that it has no affiliation with Three Arrow Capital and the funds it manages were not raised from Three Arrow Capital, its founder, or any associated companies. DeFiance Capital's founder, Arthur Cheong, has never served as a director of Three Arrow Capital or any related companies.