• Erik Voorhees, CEO of ShapeShaft and an outspoken proponent of bitcoin, believes it could take between six months and three years before the next crypto bull run occurs.
• Voorhees predicted that the primary cryptocurrency could surge to $40,000 by the summer, representing a 140% increase compared to current valuations.
• He argued that the reigning crypto winter will not last for another decade, and that the crypto industry could enter into a bull run as early as this summer if macroeconomic conditions improve.
Erik Voorhees, CEO of ShapeShaft and an outspoken proponent of bitcoin, recently made a bold prediction during an interview with Bankless Shows. Voorhees believes that the crypto industry could enter into a bull run as early as this summer if macroeconomic conditions improve, and that it could take between six months and three years for the next crypto bull run to occur.
Voorhees also predicted that the primary cryptocurrency, bitcoin, could surge to $40,000 by the summer, representing a 140% increase compared to current valuations. He argued that the reigning crypto winter will not last for another decade, and that the industry could enter into a bull run as early as this summer if macroeconomic conditions improve.
When asked to explain his position, Voorhees argued that the recent surge of institutional interest in the crypto space could be the tipping point for the next crypto bull run. He cited the launch of Bakkt, Fidelity’s cryptocurrency trading platform, as well as the entrance of major payment processors into the crypto space as evidence that the industry is maturing and attracting more institutional investors.
Voorhees also pointed to the increasing number of countries that have begun to recognize cryptocurrencies as legitimate assets. “It’s become an asset class that governments and financial institutions can’t ignore,” he said. “The more countries that acknowledge and support it, the more mainstream it becomes.”
Despite his bullish outlook, Voorhees also noted that there was a possibility that the crypto industry could remain in a bear market for a longer period of time. He believes that the market is still in the early stages of development and is still subject to extreme price volatility.
“It could be a longer crypto winter than some people think,” he said. “But I believe that ultimately, we’re going to see a rise.”
Overall, Voorhees’ prediction that the crypto industry could enter into a bull run as early as this summer is encouraging news for crypto enthusiasts. If institutional investors continue to enter the space and governments continue to recognize cryptocurrencies as legitimate assets, then the industry could be poised for a major surge in the near future. Only time will tell if Voorhees’ prediction comes true.