2024 was always going to be another key year in the quadrennial presidential election cycle of the United States. By 2012 it was destined to become one of Bitcoin’s super-cycle halving years with a 50% cut going forward in daily new supplies of BTC tokens produced by the network’s blockchain program.
But does the timing of GameStop’s rally signal meme coin investors are way late to the game?
What if cryptocurrency meme altcoin investors are far behind the super-cycle curve on getting into this market at value— a broader, more educated market than ever, through which information disseminates faster than ever and markets get ever weirdly better at baking an accurate map of the future into the current price of anything?
Why New Meme Coins Go To The Moon
In case any reader is wondering why new meme coins continue to become overnight successes despite the risks of hacks, rugpulls, pump-and-dumps, and duds– and regardless of the fact that even the most successful projects post their most dramatic gains during brief windows (so they require daily attention to maximize profits from 40% to 4,000% e.g.)— here’s why.
At least it’s one major reason why new meme coin projects with adorable furry cartoon animals like Kai Cat Coin, that you and no one, not even Satoshi Nakamoto himself heard of until literally only yesterday, becomes a $20 billion dollar Internet economy and a concern for Treasury Secretary Janet Yellen to crunch a Tums over with titans of industry at multi-billion dollar banks:
Because the Bitcoin economy— and the Ethereum and Solana economy— have already become so massive, so diffuse across the global network, that there is no naturally-occuring pressure point to inject liquidity with incentives to pull that financing in and capitalize the network with it. So new currencies create those waves of new capitalization for these economies.
So cryptocurrency capitalists are creating these new currencies on smart contract decentralized finance (DeFi) networks all the time now. Some of them are duds. Some are rugpulls. Others are pumps–and-dumps. There are hacks in the field. Everything happens. Also some of them fly to the moon with their principal backers’ sums appreciated drastically in market value.
GameStop A Bellwether Altcoin Season Is Early This Cycle?
How does the GameStop rally influenced by WallStreetBets commentator Roaring Kitty signal that altcoin investors may be late to invest in altcoin season for the incumbent secular currencies in the Web3 blockchain ecosystem? Coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL)?
Because it’s so early in this 4-year super cycle. Back in the last cycle, the Wall Street Memes rally happened after the presidential election, not in a sneak attack six months ahead of the election, and eight months early in the macro cycle. Markets are too prescient now and too anticipating of anniversaries and repeating patterns not to race to price them in for profit.
Bitcoin hitting its all time high price before the halving date this year, with Wall Street investors piling in through an SEC-approved exchange– instead of months after the halving is another similar and ominous sign that it’s late for altcoin investors to get into these coins and earn the kind of returns that have attracted so many participants to cryptocurrency exchange markets.
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