Swyftx Analysts Discuss Bitcoin’s Surge and Web3 Trends in Latest Podcast

The crypto market has endured a quiet couple of months – but once again it’s on the tip of everyone’s tongue. The past week has seen Bitcoin skyrocket 11%, with several other top market cap coins following suit. 

In their most recent podcast episode, Tapping into Crypto hosts Ted Coaldrake and Pav Hundal dive into what’s behind the latest bull run, whether it’s sustainable and some exciting GameFi news.

Related: Tesla Stirs Crypto Market by Relocating Nearly All Its Bitcoin After Two-Year Hibernation

Bitcoin All-Time High? Historic Market Cycles Say Yes

Over the last seven days, Bitcoin raced toward its highest price since July 2024, keeping the community hopeful of reaching a new all-time high before the year is out.

According to the Tapping into Crypto hosts, the current bullish sentiment isn’t all that unexpected based on previous market cycles. As the crypto scene has matured, the length of each cycle has progressively increased, suggesting a potentially protracted period of growth on the horizon.

Since 2015 we…tend to see that this [market cycle] is where we enter…a bit of price appreciation…if we are going to see the markets do what they [typically] do from a seasonality perspective, really the next 2 to 3 months is when we start to see that…take shape…

Pav Hundal, Lead Analyst Swyftx

If things play out like it has historically I think we’re due for a big Q4.

Ted Coaldrake, Content and SEO Lead Swyftx

The hosts both believe that US $70k (AU $105k) is Bitcoin’s next milestone. If the current trend can burst through that ceiling, then a new all-time high could truly be on the cards.

Memecoins Back on the Victory March

The market resurgence has many excited about Bitcoin, but the biggest winners of the past week have been meme coins. Ted and Pav note that new meme coins are being minted extremely frequently, and that the success of this asset class demonstrates retail interest is returning to crypto.

The biggest winner of the meme coin renaissance has been Brett (BASED), which has soared 24% over the past seven days.

Off the Grid to Bring Accessibility and Deep Mechanics to GameFi

Meanwhile, Tapping into Crypto dives into the latest Web3 gaming sensation – Off the Grid. This title is one of the most-anticipated blockchain-based games ever released, with the gameplay a mesh of popular battle royale titles like PUBG and Fortnite.

Unlike most other popular GameFi entries in 2024 (think Catizen and Hamster Kombat), Off the Grid boasts powerful graphics, a multiplayer community and deep gameplay mechanics that can theoretically keep a userbase invested. 

Of particular significance is that the game isn’t just available on desktop – PS5 and Xbox gamers can also access the title through their consoles, pushing GameFi to a wider audience than was previously available.

Crypto Adoption “Faster than Mobile Phones”, BlackRock Says

Finally, the podcast hosts interrogate the current state of institutions entering the crypto scene – a major reason for the sector’s comeback in 2024. 

BlackRock, the world’s biggest asset manager by some margin, has been a strong supporter of blockchain technology, pushing forward spot crypto ETFs and introducing asset tokenisation to their clients.

Related: Dogecoin Litigation Continues: Musk and Investors Clash Over Sanctions After Dismissal

The hosts discuss a recent talk from BlackRock CEO Larry Fink, where the powerful executive compared “how Bitcoin and crypto adoption is going faster than mobile phones.”

If you think about it, this isn’t an outlandish statement – it took quite a while for smartphones to become the societal norm that they are today, following years of people owning literal bricks. 

But in general, the support from huge financial institutions like BlackRock demonstrates the maturity of the crypto industry and just how far it has come over the last 24 months.