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The Bitcoin Bubble” Hasn’t Even Started Yet, Says Analyst
Bitcoin's price has risen a remarkable 100% since lows below $30,000 a few months ago, but one analyst believes the true "bubble" hasn't even begun yet. According to CryptoQuant analyst using the Twitter handle VenturefoundEr, we have yet to see the real BTC bubble. He argues that “bubbles form when the dynamics of short-term returns attract enough money that the composition of investors shifts from predominantly long-term to predominantly short-term investors.” As of this writing, short-term hodlers account for 17% of the supply distribution – a number that is at an all-time low. In addition, the…
The Bitcoin Bubble” Hasn’t Even Started Yet, Says Analyst
Bitcoin's price has risen a remarkable 100% since lows below $30,000 a few months ago, but one analyst believes the true "bubble" hasn't even begun yet.
After to the CryptoQuant analyst using the Twitter handleventure founder,We have yet to see the real BTC bubble. He argues that “bubbles form when the dynamics of short-term returns attract enough money that the composition of investors shifts from predominantly long-term to predominantly short-term investors.” As of this writing, short-term hodlers account for 17% of the supply distribution – a number that is at an all-time low. Furthermore, the narrative further delves into the reasons behind the bubble formation and says the following:
Bubble formation isn't so much about people irrationally engaging in long-term investing. It's about people moving somewhat rationally toward short-term trading to capture the momentum that has fed on themselves.
Twitter Another common way to measure where we are in the current market cycle is retail interest in BTC. HowCryptoPotato reported There are still no signs of FOMO (fear of missing out) in the market as retail investors are nowhere near as numerous as they were in May this year, let alone in 2017.
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