• Thu. Mar 28th, 2024

We May Be Closer To The Next Big Bull Run Than Anyone Could Anticipate

Alvin Hayes

ByAlvin Hayes

Sep 5, 2022

The whole crypto community is talking about the fall of Bitcoin and how it is simultaneously a good thing and a bad thing. It is a devastating event for speculators and people who wanted to make a quick buck. However, it is a perfect opportunity to buy low for those who believe that the asset will appreciate even more in the future. The HODL strategy is embraced by about 62% of BTC users, as a recent study revealed that this exact number of wallets do not send BTC anywhere. They buy and hold.

Many people are saying that BTC may fall even further and hit a $13K mark which is not out of the realm of possibilities, but there is an even worse scenario where it falls to one of its prior support levels of $10K which was a resistance level just 2 years ago, in September of 2020. While many people are thinking that it is a bad thing, we argue that such a change in price dynamics can be interpreted as a positive event due to the historic Bull Run that occurred between September 2020 and January 2021.

During only three months, BTC grew 4x and reached an impressive price of $40K outperforming all other assets that were considered “serious” in that period. The ATH of $68K was reached just a year later. The current bear trend can be nothing but a preparation for bulls to take us to the next ATH. Note that some industry experts said that BTC may reach the $100K mark by the end of this year.

The exodus of institutionalized investors who are afraid of investing in BTC right now is a temporary thing. Hedge fund managers can see the risks associated with inflation and the potential downfall of the US dollar. They have to search for alternatives that can allow them to hedge against it. Whether they like it or not, Bitcoin and Ethereum seem to be the best candidates.

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Another important thing to remember is that the hash rate race is still at full speed. Many mining companies decided to sell some of their BTC market positions to just cover the costs of running facilities. They do not shut them down. Many anticipate that the next bull run is just over the horizon and we need to weather this winter for just a couple of months.

Alvin Hayes

Alvin Hayes

Alvin Hayes is a seasoned news writer known for his engaging storytelling and thorough research. With a commitment to accuracy and a captivating writing style, his articles provide readers with insightful and well-rounded perspectives on current events.

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