Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: MrSpasybo on February 18, 2021, 12:41:58 PM
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In a Twitter exchange on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken, calling the current BTC market a bull run like no other.
Held had previously explained his theory about the state of Bitcoin in 2021 — that price gains cannot be compared to past bull phases, and do not even match the end of 2017 when BTC/USD neared $20,000.
Article: Bitcoin 'supercycle' may emerge in 2021 as Fed balance sheet hits new record high (https://cointelegraph.com/news/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high)
I reread the article on February 12, 2021 after Bitcoin's price surpassed $50K. And I think we have grounds to believe in the Bitcoin supercycle, for a larger period of time, with BTC price consistently being maintained at a high level:
+ Halving 2020 reduces the block reward of BTC to 6.25 BTC/block, that is, compared to before, 6.25 * 24 * 6 = 900 BTC less per day. The scarcity has really become apparent after 6 months. The 2024 Halving will cause the new number of BTC to drop by 450 BTC/day, the change in scarcity is likely to be no longer large. So the 2020 Halving could be the last Halving to cause a massive bullrun;
+ The mature of crypto market: the driving force for the market comes from major financial institutions in the traditional economy with long-term investment objectives;
+ The concept of Bitcoin is simplified: "Bitcoin - Digital Gold", helping people to access Bitcoin more;
+ After many years, the governments did not ban Bitcoin, they just planned to enact the legal framework for Bitcoin.
I really expect this bullrun to last until the end of 2021, and then just a minor correction instead of the crypto winter. Do you think my expectations are too optimistic? And do you think crypto winter is essential for the crypto market?
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One thing you say that I'm interested in, is that the main driver of this bullrun comes from the big financial institutions, not the ICOs like 2017. According to what happened at the MicroStrategy meeting, The investment strategy of these big companies is long term rather than becoming new whales in the market. This should stabilize the value of BTC after a post-ATH correction (~100K USD) instead of falling into the 3-year crypto winter.
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The last thing you said about government is actually a fair play between the government and us. They really have to do it because they can do nothing about making moves against Bitcoin. They earn taxes we earn profits that is the best thing there.
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As time goes on, the popularity of Bitcoin and its value is increasing. Bitcoin is currently in a very strong position in the market. Because I've been here for a few days I am regularly monitoring the price of bitcoin. The price of bitcoin has increased so much in the last few days that it is beyond our imagination. So it would not be wrong to say that Bitcoin changes with time The market will be more powerful.
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Bitcoin prices are rising faster than the speed of the super cyclone. Others say that the price of bitcoin fluctuates occasionally. But the speed of the super cycle continues to increase. From this point of view, if the price of bitcoin continues to rise like a super cycle, then the time of bitcoin will skyrocket.
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One should remain optimistic like you and should not doubt the bull cycle of 2021 that is altogether different from the previous bull runs of bitcoin. This year bitcoin sets many new records and we are watching it and we don't know how many new ATH will be set by BTC this year. We know both popularity and demand for BTC is increasing and thus adoption of Btc is also increasing and that is a good sign for the crypto space.
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Bitcoin has exceeded all expectations. And now, in fact, a super-cycle of growth has begun, when ATN is overcome one by one and the capitalization of bitcoin has exceeded $ 1 trillion. Institutional investors have pushed the price of bitcoin very high and I think we will see further price updates soon.
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Bitcoin has exceeded all expectations. And now, in fact, a super-cycle of growth has begun, when ATN is overcome one by one and the capitalization of bitcoin has exceeded $ 1 trillion. Institutional investors have pushed the price of bitcoin very high and I think we will see further price updates soon.
Thanks to the timely correction of the BTC price, we will continue to live in the bull-run. I think the bull-run is going to be longer, with the BTC price possibly reaching 90K USD, at the same time since companies have entered the BTC market they will not let the BTC price fall to 30K-40K USD, so crypto winter will be either very short or just for altcoins.
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Bitcoin cycle is very good and best becasue if the Bitcoin will comes down then it go high same as it is and the investor always make money in this coin not get the loss if they hold this coin.
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Bitcoin has exceeded all expectations. And now, in fact, a super-cycle of growth has begun, when ATN is overcome one by one and the capitalization of bitcoin has exceeded $ 1 trillion. Institutional investors have pushed the price of bitcoin very high and I think we will see further price updates soon.
Bitcoin has beat all odds and expectations. We all saw the impact of institutionsal investors influenced and their inflow of money from traditional markets to tether printing.
I just hope the bull run doesn't end like the previous time because its going to be messy if it goes the other way this period.
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I think if there are real strong technologies on the crypto market, and they are, and bitcoin is used by many companies as a safe asset, there will be no crypto winter, there will be ordinary corrections and
this is the right way, but I'm not sure if it will come in 2021! A couple of years more and we will come to this, perhaps during the next bitcoin halving!
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2021 is a bright year for the cryptocurrency world. The price of all coins have been increasing comparatively this year. You are right that in 2021 bitcoin could rise to the supersycle. But that has already happened. Bitcoin has now been legalized in many countries. Countries that have been legalized have come a long way economically.
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The price of Bitcoin can be compared to the current super cycle. The main reason is that the price of Bitcoin is lower now so it is not seen that it just keeps on rising. If this continues, the price of Bitcoin will skyrocket at some point.
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This is true bitcoin supercycle longer and stronger because since they made it into the list of stock exchange the bounty and investors will be effort bitcoin become a good image of coin which will be used in any transactions in terms of buying in the market especially in crypto projects.
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I think you might be right about the bitcoin supercycle. I don't know if it could last until the end of the year, but it is definitely something that is here to stay. As for most governments not banning crypto, that's definitely good but I'm still somewhat wary about how they will approach bitcoin in the future, strict regulation is still a possibility.
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I suppose we have great prerequisites to expect quite large results of the bitcoin rate during this year, compared to what we see today. many analysts are discussing from $ 150,000 to $ 300,000 per bitcoin, and within 10 years it is quite possible a million dollars.
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Many major investors have sold large amounts of Bitcoin in the last few days and that did not do that much damage to the price.
Because new big investors are still buying bitcoin dips.
There have been great movements by the holders since 2010-2013, but there is still no crash.
Data from CryptoQuant illustrates this and suggests that the sell-off was very likely to have been triggered by large investors who took profits.
(https://www.btc-echo.de/wp-content/uploads/2021/02/newplot-12.webp)
In addition, stablecoin inflows into crypto exchanges have slowed. Since Bitcoin hit its all-time high of $ 58,641, the stablecoin available on crypto exchanges has fallen significantly.
(https://www.btc-echo.de/wp-content/uploads/2021/02/newplot-11.webp)
However, it can already be seen that the two on-chain indicators have moved in bullish or at least more neutral directions again. Because of this, it is unlikely to see another big BTC sell-off in the next few days. Nevertheless, one should keep an eye on the two indicators.