According to claims of Quantum Economics founder Mati Greenspan, the current Bitcoin bull run is about to begin. In his opinion, the earnings could reach, in some days, up to 250% or more.
At the same time, he assured that an increase of more than 23,000 dollars per currency would not have similar effects to those of 2017. It should be remembered that, at that time, reaching the 20K threshold, investor seizure nervousness and sales pressure were causing the value of Bitcoin to dive.
Now, says Greenspan, the situation is “completely different.” The rise in the price of the cryptocurrency does not indicate that the market is overheating. On the contrary, it enters a flood cycle driven by large investors, which means it is unlikely to stop anytime soon.
Bitcoin bull run is fueled by vicious demand
An important aspect of the current Bitcoin bull run is that corrections are considered a buying opportunity. This drives the price of the cryptocurrency to go back and in a very fast time it improves. This is behavior that could generate even more investor confidence.
In this sense, Greenspan confirms: “in our view, things are getting started.” At the same time, it highlights that in order to measure the percentage of profit that Bitcoin could achieve, old analytics criteria should not be used.
“If demand remains at these levels and supply remains limited, there is a good chance we can see returns in just 250% days and even more,” said the analyst .
In this way, Greenspan considers that the price of Bitcoin, in unknown territory after the bull, will present a different behavior.
Bitcoin bullfighting is only in its early stages, according to Mati Greenspan, founder of Quantum Economics. Source: TradingView
Can the uptrend of the leading cryptocurrency be reversed?
Another distracting aspect is that the Bitcoin uptrend could be reversed. That is, the cryptocurrency could turn bearish after a sale. However, the analyst above, while not denying that possibility, makes it clear that it is currently statistically unlikely.
In that regard, he explains that “no one on the planet can predict when and to what extent Bitcoin will turn bearish if this happens again.” The usual thing, he stresses, is that the price is now between 23,000 and 1,000,000 US dollars.
On the other hand, he did not rule out Scott Minerd’s assertion of Guggenheim Partners, that the BTC should be worth $ 400,000.
“Now that we have surpassed previous historical highs, there are no levels left on the chart that can indicate where the price will reach,” he stressed. Beyond fear of a hypothetical downturn, the bull run that has just begun with the Bitcoin price should be exploited, he said.
As long as inflation is encouraged, the bullish will be constant
Another of the personalities that made reference to the historic moment that the digital currency is going through, was Binance CEO of the United States, Catherine Coley. To her, CoinTelegraph points out, the current bull run is evidence of continued growth, driven by weak fiat money.
“As long as the Fed and other government agencies around the world agree with the effects of inflation on fiat currency, we will continue to see the diversification thesis in a Bitcoin surge. In this way, their prices will exceed key technical levels, ”he said.
Data for consideration
The bull run that Bitcoin is currently going through could be its first step. At least that’s the view of Mati Greenspan, the founder of Quantum Economics, who believes the price of the cryptocurrency is in unknown territory. For this reason, it should not be evaluated with old measurements. He explains that, in the future, the value of Bitcoin could range between 23,000 and 1,000,000 dollars. Other analysts, such as Catherine Coely of Binance United States, make Them’s inflation policies the main driver of Bitcoin’s value. At the time of writing, the price of the main digital currency, is $ 22,752. Its capitalization is $ 421.5 billion.
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