A statement from the first vice president of the Bitcoin Foundation sparked a discussion about the long-term outlook for cryptocurrency volatility and digital asset market cycles. Why could the new bull cycle be special?
A statement from the first vice president of the Bitcoin Foundation sparked a discussion about the long-term outlook for cryptocurrency volatility and digital asset market cycles. Why could the new bull cycle be special?
“Epic and Ultimate”: Charlie Shrem on the Start of the Bull Market
The next phase of the bull market for Bitcoin (BTC) and other cryptocurrencies will be epic, but it could also be the last. Such an unusual prediction was shared by Bitcoin (BTC) pioneer Charlie Shrem with his 255,000 followers on X (formerly Twitter) yesterday, February 2, 2024.
According to him, the maturation of the segment will be the cause of the “last” Bitcoin (BTC) bull market.
The thesis about the “maturation” of Bitcoin (BTC) and cryptocurrency markets is popular among analysts and traders. As more and more liquidity is injected into the cryptosphere, its volatility decreases.
As such, Bitcoin’s (BTC) performance is increasingly looking like that of the S&P 500 or even gold. Major altcoins, including Ethereum (ETH), Cardano (ADA), and Polygon (MATIC), replicate this pattern.
As Guru-Investingpreviously reported, Bitcoin (BTC) annualized volatility fell to 45%, which is more than 4 times lower than the peak recorded in 2012.
Ups and downs until 2140?
Most of Shrem’s followers questioned his position. Some of them agreed that the volatility of Bitcoin (BTC) and cryptocurrencies will decrease, but the longevity of the new asset classes will remain indisputable.
Other commentators predict that Bitcoin (BTC) will see its last cycle in the early 2030s, while more passionate proponents believe it would be relevant until the last Bitcoin (BTC) is mined in 2140.
Charlie Shrem IV is one of the most prominent early figures of the Bitcoin (BTC) movement. In 2011, he founded BitInstant, a service for seamless BTC purchasing that processed 30% of all Bitcoin (BTC) trading volume.
As Guru-Investingreported in 2018, he was also known as one of the first Bitcoin (BTC) millionaires.
