A crypto analyst expressed optimism about the current crypto market while also urging investors not to get carried away.
In a recent video published on the Jungle Inc Crypto YouTube channel, the analyst expressed the belief that we could be at the start of a new bull run, but cautioned that there are no guarantees.
This looks bullish. This is exciting this very well may be our moment, but you just don’t know that so don’t do stupid stuff like leverage to the hilt because some youtuber told you it’s a guaranteed bull run.
Jungle Inc Crypto
The analyst pointed to advancements in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP as reasons to be excited. For example, he believes Bitcoin is progressing towards integration with traditional finance, Ethereum recently successfully switched to a proof-of-stake model, and the regulatory clarity around XRP in the U.S. is a positive development.
Additionally, the analyst sees other layer one blockchain networks like Cardano (ADA) and Polkadot (DOT) as far more ready for adoption than last cycle. He thinks frustration with high fees and congestion on Ethereum could drive users to alternatives.
While being upbeat about crypto’s potential, the analyst discouraged investors from taking excessive risks based on YouTube hype. He warned that while settlement in the Ripple SEC case would benefit XRP, an appeal could prolong uncertainty for Ripple. He also expressed concerns about increasing censorship risks on the Ethereum blockchain.
The analyst also covered JPMorgan CEO Jamie Dimon’s criticism of crypto and Coinbase share sales by ARK Invest’s Cathie Wood. He speculated Wood may be taking profits amid crypto’s big run this year.