Bitcoin this cycle may only rise x3–x5, hard to reach x10 like before?
CryptoQuant CEO predicts this bullish cycle may be less dramatic than prior ones. In return, the next downtrend season is also expected to be less brutal than the previous 80% crash.
• Bitcoin’s market capitalization is getting larger, so it needs an even larger influx of capital before price can reach x10 like in earlier cycles.
• Institutions holding a lot of BTC mean the market is less easily swept up by waves of FOMO from small retail investors. In exchange, price may also rise more slowly.
Besides, he says the market outlook looks very favorable: long-term whales have stopped selling, many big players are opening long positions near the bottom, and ETFs are continuously attracting capital.
CryptoQuant CEO predicts this bullish cycle may be less dramatic than prior ones. In return, the next downtrend season is also expected to be less brutal than the previous 80% crash.
• Bitcoin’s market capitalization is getting larger, so it needs an even larger influx of capital before price can reach x10 like in earlier cycles.
• Institutions holding a lot of BTC mean the market is less easily swept up by waves of FOMO from small retail investors. In exchange, price may also rise more slowly.
Besides, he says the market outlook looks very favorable: long-term whales have stopped selling, many big players are opening long positions near the bottom, and ETFs are continuously attracting capital.