Macro is BTC
Supply decreasing (ordered decreasing importance)
Exponentially decreasing block rewards (driving 4 year cycle)
Fixed supply forces > 7 Billion people to own < 0.03 BTC each
Demand increasing (ordered decreasing importance)
HODL waves https://www.lookintobitcoin.com/charts/1-year-hodl-wave/
$300Bn crypto – if anything moves from FOREX derivatives equities bonds commodities
Closer to having crypto products & services with utility (DeFi in particular)
32 million BTC wallets (we’re in early adopters phase)
Next generation of buyers (i.e. generation = 4 years, increasingly tech orientated)
Never-ending money printing by central banks
Starbucks coffees via bakkt (if paying and backed with BTC, free marketing)
Economic uncertainty / shift focus to commodities
If you look at Bitcoin history particularly with reference to halving dates (log scale and colour for time to halving) - then contrast this with the older alt coins (ripple, stellar in particular) you can see clear patterns. This cycle is different this far - no mini alt szn unlike last time.
If alts moon it will be most likely in 2021 - BTC dominance is showing a lot of resilience at the moment and alts have little in the way of utility yet to drive usage/demand meanwhile supply is on the up for most of them.
6 figure peak BTC is my bet - It is a balance between working out the new crowds perception of worth for BTC and the old crowd and which ones get attracted first to buy and sell respectively.