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In my time in crypto, I’ve lived through several boom and bust cycles...

The last bear market is by far the most active downcycle I’ve ever seen. And that’s setting up what I believe will be an epic bull cycle beginning in late 2023, early 2024.

My research showed me that it’d change the way we exchanged value for the better. That helped me make it through my first boom-bust cycle.

Things didn’t start getting interesting again until Ethereum launched in 2015. I was an early adopter and began bagging it aggressively that year.

The launch of Ethereum sparked a resurgence in crypto, leading to the second bull cycle of my career. Since its launch, Ethereum is up over 516,029% at the time of this message.

Meanwhile, bitcoin ran from $254 to $20,000 in 2017 – a 7,774% gain. Euphoria was high again. Many lucky people became millionaires.  That 2016–17 crypto bull market was one for the ages.

But as you know, crypto is highly volatile. And we entered another Crypto Winter in 2018.  Bitcoin and Ethereum collapsed 84% and 94%, respectively, from their cyclical highs. The overall crypto market plunged 88%.

Despair was everywhere. I’d be laughed out of the room at the mention of a token project.  But I am used to doing the opposite of the general public, being a Wall Street Trader for over twenty years.  

During bear markets, money simply changes hands instead of disappearing into thin air, it goes into stronger hands, professional traders and investors because they are not scared, they do not panic and instead they load up.

Again, I relied on my past experience,  research and conviction in this new asset class and held long positions  and added to it over time.  Then we entered our third cycle.

That came during the pandemic-fueled bull market of 2020–2021. Flush with trillions of dollars in stimulus money, investors piled into crypto along with professional investors.

Wall Street firms like Goldman Sachs, JPMorgan Chase, and Morgan Stanley pumped hundreds of millions into new crypto projects. Tokens exploded in price.

Bitcoin and Ethereum reached new highs above $69,000 and $4,850, respectively. At the peak of the frenzy, the crypto market cap hit a record $3 trillion.

NFTs were selling for millions of dollars. When I went out in public, I’d hear 20-year-olds tell me, “I’m making more money from crypto than my parents made this year.” Everyone and their Mom was high on cryptocurrency.

That brings us to the last downcycle…

Since reaching an all-time high in 2021, bitcoin and Ethereum were down 62% and 67%, respectively. And as I’ve seen in the past, the thaw once again happened and a new spring is upon us, the beginning of a new bull cycle.

But I’m seeing a major difference between the past three cycles I’ve experienced.

The 2016–17 bull run was a hype cycle full of meme coins and crap projects like Jesus Coin, Dentacoin, and CryptoKitties. It was a pure speculative rush.

During the 2018 downcycle, many of the promising Layer-1 protocols we use today had yet to go live – let alone support other builders on top of their technology.

As we enter a new cycle, we’re seeing something much different. The industry has matured.

Major Wall Street firms like BlackRock, Fidelity, and WisdomTree have filed applications for spot bitcoin exchange-traded funds (ETFs). (UPDATE: Bitcoin ETF's are now approved by the SEC)

Combined, these three firms alone manage over $13 trillion in assets.

Corporations like Tesla and MicroStrategy are holding BTC on their balance sheets.

And a slew of new applications have use cases other than speculation. Even in the depths of a shattered NFT market, Nike continues to launch digital collectibles.

At the same time, the industry has been fighting off the regulatory might of the U.S. government.

In July the Securities and Exchange Commission (SEC) lost a lawsuit against Ripple (XRP) in which it claimed the founders were selling unregistered securities with the sale of their XRP token.

And last month a federal appeals court sided with Grayscale Investments in its ongoing battle with the SEC over a spot bitcoin ETF.  And now Bitcoin ETF's are LEGAL!

This is no small feat!

The examples I cited portend a new age in the crypto industry.

No longer will Wall Street and the mainstream media relegate this asset class to the fringes… or write it off as a passing fad.

Crypto has grown too big… and too real to ignore.

Instead of meme coins, we’re seeing Web3 apps that provide utility come to market.

Examples include decentralized streaming platform Audius and graphics rendering platform Render (both Pioneer portfolio picks).

And despite the collapse of centralized exchanges, DeFi protocols like our portfolio pick continue to work as intended – providing investors with alternative ways to generate income.

But of all the exciting developments happening in crypto right now, there’s one that has me really bullish as we head into the next 2024 and beyond bull cycle.

I’m talking about the launch of Coinbase’s new platform called Base.

In this month’s issue, I’ll tell you why Base will be a launching pad for the entire Web3 industry… plus, go over two tokens we already hold that’ll benefit from it.

They’re trading at huge discounts now – but I’ve learned over my career in this industry that this is the absolute best time to buy projects like these.

These are projects in areas that are accessible to retail investors or are foundational to other developers. And they’re building products that will be so valuable and so heavily used that they’ll help lift up the entire crypto market.

Based on our updated figures, they could see gains of 3,012% and 9,469%, respectively.  Set yourself and your children up a portfolio that will benefit from the new asset class as a whole over the next 10-20 years.  

Even small $200 position sizes can turn into thousands.  Every person in the world should invest into cryptocurrency now as it is not too late.  Grow your portfolio with us over time.

Warmest regards,

JR Glick, Publisher

CryptpoBlock Research, LLC