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Home Technical analysis DeFi

Analyst: Post Bitcoin, Traditional Finance Will Flock To DeFi, Not Ethereum

Tony Spilotro by Tony Spilotro
3 months ago
in DeFi
Reading Time: 3min read
bitcoin defi ethereum
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Bitcoin is in price discovery and each day sets a new all-time high. But despite the soaring prices well above the previous record, altcoins have barely moved in comparison. 

However, traditional finance will soon move profits and diversify, and when they do, one chartered financial analyst claims it’ll be into DeFi tokens, and not Ethereum or other altcoins. 

Analyst: Traditional Bitcoin Investors To Diversify Into DeFi

Bitcoin price tapped over $28,000 over the holiday weekend, and the crypto market is feverish with FOMO. 

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Most of the capital and interest has surrounded Bitcoin thus far, but all eyes are on altcoins for the eventual “alt season” and the “life-changing wealth” they’re said to bring. 

Related Reading | Prelude To Altcoin Season: Ethereum Active Addresses Revisit ‘DeFi Summer’ Highs

And while Ethereum popped over the weekend as Bitcoin cooled off, chartered financial analyst and CIO at Arca Jeff Dorman says it’s going to be DeFi tokens where traditional finance turns to next, and not the top-ranked altcoin. 

In fact, many altcoins might be left out of this bull run. Here’s why. 

bitcoin ethereum defi

Will Bitcoin profits flow into DeFi tokens? | Source: BTCUSD on TradingView.com

Why Altcoin Season Could Be Very Different This Market Cycle

Dorman says that traditional finance investors got over the “impossible to value hump” with Bitcoin but will ultimately “gravitate toward cash flow valuation when given the choice.”

Essentially, because these assets also come with added yields similar to stock dividends that traditional finance investors will prefer the untraditional new form of decentralized finance. 

Beyond this, several altcoins — even those in the “nonsense” top 25 crypto assets by market cap, have had three years to build a project into a product and give investors a reason to come back. 

Related Reading | Ethereum Transaction Fees Rising Hints At DeFi Season Round Two

Ethereum might be the foundation of DeFi dapps, but rising network fees each time the technology is put to use highlights its failure to scale. This is less important for Bitcoin, but because Ethereum is about utility, fees matter.

Other altcoins are still buried in negative sentiment, have an army of sellers waiting to dump once they’re in profit again, and even major assets like XRP are now out of the way. Bitcoin forks have also proven to be useless compared to the real deal by a vote of investor capital. 

For all these reasons and plenty more, DeFi will shine during the coming bull market, and will be especially attractive for traditional finance. 

Featured image from Deposit Photos, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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