A conversation concerning the long-term outlook for cryptocurrency volatility and market cycles in digital assets was sparked by a comment made by the vice chairman of the first Bitcoin Foundation. What makes this fresh bullish cycle potentially unique?
“Epic and last”: Charlie Shrem on starting bull market
For Bitcoin (BTC) and other cryptocurrencies, the upcoming bull market period will be historic, but it may also be the last. Yesterday, February 2, 2024, Bitcoin (BTC) pioneer Charlie Shrem posted an extraordinary forecast with his 255,000 followers on X (previously Twitter).
https://x.com/CharlieShrem/status/1753481330401448358?s=20
He believes that the “last” Bitcoin (BTC) bull market will be caused by the sector becoming more mature.
Analysts and traders often espouse the “maturation” theory about Bitcoin (BTC) and cryptocurrency markets. The cryptocurrency market experiences decreasing volatility as more and more liquidity is added.
Because of this, the performance of Bitcoin (BTC) is beginning to resemble that of the S&P 500 or even gold. This approach is replicated by major cryptocurrencies, including as Cardano (ADA), Polygon (MATIC), and Ethereum (ETH).
As previously reported by U.Today, the annualised volatility of Bitcoin (BTC) has decreased to 45%, more than four times lower than its 2012 peak.
Ups and downs until 2140?
Most of Shrem’s supporters disputed his claims. Some of them concurred that while new asset classes would continue to be deemed long-lasting, Bitcoin (BTC) and cryptocurrency volatility will likely decrease.
Some analysts predict that the last cycle of Bitcoin (BTC) will occur in the early 2030s, although ardent supporters believe it will remain important until 2140, when the last Bitcoin (BTC) is mined.
One of the most well-known early leaders of the Bitcoin (BTC) movement was Charlie Shrem IV. He established BitInstant in 2011, a platform for easy Bitcoin (BTC) purchases that handled thirty percent of all BTC trades.
He was also regarded as one of the first Bitcoin (BTC) millionaires, as U.Today reported in 2018.
