We’ve Been There Before with Crypto, History Tells us the Future Looks Good - This Isn’t TA, This is Better
Almost a year-to-date after Bitcoin experienced a blip in its 2017 bull run, Weiss Ratings team analyst Juan M. Villaverde analyses the previous bull runs of Bitcoin and concludes that the future looks bright, even that this is the perfect time to invest, in an article published on Cryptonews.
In the long term, there’s only one way to go from here: onward and upward.
As it seems that Bitcoin has developed a new resistance level $6,400 in last months - rather than the commonly focused on $6,000 - Villaverde’s analysis comes as a timely reminder that cryptocurrencies have their own cycle and an extended bear run is common after each bull run.
Most importantly, this isn’t the first time that the market has suffered sideways operations, yet year over year growth for BTC is still significant at +80% YOY at the time of writing. A situation, while perceptually lower than before in absolute monetary value more significant, which we have been through for four times already.
Villaverde has a brief analysis of each bull run and notes that each bull run starts slowly and only the last two months of each run consists of stratospheric, parabolic growth.
He predicts that the next bull-run is still in the making as well as highlights that each bull-run has led to further maturing of the cryptoscene as it lauded more advanced technologies as well as a larger market, thanks to ever more new valuable tokens.
Looking ahead, Villaverde specifically highlights three following factors as causes or further optimism.
- Bitcoin is no longer alone.
- Trading volume and liquidity have improved.
- Adoption and infrastructure have steadily grown.
For anyone worried about the current market, take five minutes and head over to Cryptonews to read Villaverde’s interesting analyses: 4 Bitcoin Bull Markets: Big Lessons to Learn.
And to pacify your worries, if that’s what this markets causes for you.
Check our charts also ;) http://coinpaprika.com you will like it :)
It keeps going up and down, until it doesn't go up again :O
But these are fairly interesting properties of the previous cycles, and to me it makes sense. Really inefficient pricing mechanisms is what we have, and I guess over time we should expect the swings to stop being so dramatic right? (Either that or death.)
Actually there will be always more #stablecoins.
The Winklevii recently received approval for theirs. And it will be pegged to the USD, which may or may not be a good thing considering Trump and that much of what he’s doing now may be reverted by the next one.
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