BKEXFutures

BKEX Institute Annual Strategy Report(2022–2023)

BINANCE:BTCUSDT   Bitcoin / TetherUS
For the relatively small volume of the crypto market, incremental volume is everything. Even if there is no quality in the project itself, total funds alone can increase more than 100 times. This is why altcoins have soared in the bull market, even though the crypto market has been mixed for many years.

What is the size of the current user base of crypto assets? How far away is it from traditional capital markets? Here, we use keyword search popularity data for analysis.
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As the chart shows, all the keywords related to the crypto market are less popular than stocks. Bitcoin, the most popular keyword, is less than half of Stock. And Crypto is even lower. For most investors new to the crypto market and on the fence about learning more, Bitcoin is the first impression and the most likely keyword to be searched first. It is only later that they will look for more in-depth concepts. Therefore, the number of users in the crypto market is still not as high as that in the traditional financial need. Still, the development in recent years has been very rapid, almost catching up with half of the stock market. And the overall level of awareness within the crypto market is low.

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Markets already relatively mature, such as iPhone, are stable in a range of search fervor. But the crypto market is still moving up. From an incremental perspective, the crypto market still has a lot of potentials, and the counterparties are relatively weak, making it difficult to make profits.

In addition, crypto assets are not precise investments. Combined with the ETH chapter and the OP on-chain interaction, we will learn that crypto assets still have value. On-chain interaction requires the consumption of crypto assets as gas, similar to the current cost of renting a server by a centralized institution, and is borne by the corresponding centralized institution. It is senseless on the user side, but the on-chain world is decentralized. This cost needs to be paid by the users themselves. The larger the on-chain ecology develops, and the more active the interaction is, the stronger the demand for crypto asset purchases. After all, without crypto assets, one can only be a spectator. It is only possible to have an intersection with the on-chain world. If Web 3.0 becomes mainstream one day, crypto assets will also become necessary.
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