Additionally, TradingShot’s projection aligns with the outlook provided by another crypto analyst, Michaël van de Poppe, who believes Bitcoin is primed for a record high in the third quarter. In an X post on July 16, Poppe noted that as long as Bitcoin sustains its price above $60,000, it should maintain positive gains. But it is exactly the self-reinforcing dynamic, and the lessening of regulations, that has Kelleher worried. Every time crypto has risen, it has fallen back down. Kelleher points out that during the last crypto crash, there was almost no contagion with the rest of the financial system, because regulators had kept the crypto industry at an arm’s length.  “What we’re going to be seeing over the next months and years is increasing interconnections with the core of the financial system,” he says. “So the question is, how broad will the connections be? And will the crypto crash bring down the financial system, just like derivatives brought down the financial system in 2008?”
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