Fast forward one year post-halving, and Bitcoin’s up more than 30%. Not bad, eh? Especially considering the global headwinds. Something feels different this time around. Forget the textbook four-year cycle. We're witnessing a sprint. A Singapore Sprint, if you will. It’s about time we, here in Asia, begin to shape this narrative through our own perspective.

Is the West Missing the Point?

The usual suspects are trotted out to explain the surge: halving-induced scarcity, ETF demand, and whispers of a Fed rate cut. USI Zade Vugar, Bitget COO about ETF finish – There’s no denying the demand. I think there's more to it, a distinctly Asian flavor to this crypto bull run that's often overlooked in Western analyses.

Think about it. The number of cryptocurrency trades that occur on Asian exchanges is staggering compared to the West. Have we missed a trick here by not truly appreciating and factoring in the impact of our Asian retail investors, family offices and more recently institutional units? Are we still clinging to models created in the US and Europe? These models can’t really capture the complexity of our markets.

Take, for example, the kiasu (fear of losing out) mentality, so endemic here in Singapore. Once Bitcoin began its ascent, the fear of missing out (FOMO) probably caused FOMO in even more demand. And this isn’t just limited to ETFs—this pining for the revolution is a part of a deeply ingrained cultural drive to not be left behind.

The velocity of Bitcoin’s rise is bringing back memories of Singapore’s astonishing growth. From a remote island outpost to a global capital of commerce and finance in just decades. It’s a tale of hardscrabble ambition, invention, and a state’s unflagging belief in its own potential. Could Bitcoin be, in some sense, replicating that path, but on an international, digital front?

Singapore's Regulatory Tightrope Walk

Singapore, as always, is walking a tightrope. The Monetary Authority of Singapore (MAS) has been impressively progressive, attempting to walk the tightrope between fostering innovation while protecting investors. They’re letting regulated entities provide some crypto services while punishing scams, junk food-style advertising launched by splashy start-ups for still protecting consumers from the wild west. It's a delicate dance.

The big question now is, how will MAS respond to this new fast-paced cycle? Or will they view it as an opportunity to double down on their efforts to cement Singapore’s place as the world’s leading crypto hub? Or will they be more timid, worried about the risk of a bubble? The answer, I would guess, is largely going to rest on the degree to which this nascent industry can prove its responsible growth and risk mitigation.

Here’s where some righteous anger should set in. I believe that some of the crypto exchanges continue to treat compliance as a nice-to-have at best. With good regulations, comes good opportunities.

  • Opportunity: Solidify crypto hub position.
  • Risk: Potential bubble, and scams.

What Happens After $90,000?

Trader Jelle's data is compelling. Bitcoin reaching new all time highs at a pace unprecedented compared to prior cycles. If it ever breaks through that barrier and goes above $90,000, the floodgates might open. The diminished supply of coins after the upcoming halving—coupled with continued demand from institutional players—may send it to new heights.

The question no longer is whether it will occur, but rather how long this period will endure. I’m not here to provide you with any bullish or bear pricing forecasts. Anyone who does is probably selling something. I will say this: be prepared for volatility. This new fast-twitch cycle may be causing bigger corrections and shorter bursts of turmoil.

And that's where anxiety creeps in. What if the Fed doesn't cut rates? What if U.S.-China trade tensions escalate further? What if a major regulatory crackdown occurs? All valid concerns that can end a bull run.

Never disregard your own research in favor of ours. Keep risk under control and avoid allowing FOMO to override your decision-making. And keep in mind, it’s not all about the profit. It’s a chance to be part of a technological revolution that could go on to remake the whole world. Let’s make sure we’re doing it with a Singaporean level of sense, duty and realism. So rather than just follow the hype, let’s create something meaningful and enduring. That’s the Singapore Sprint I’d like to see.