Leading cryptocurrency Bitcoin (BTC), It may have broken the record of this period by seeing the level of $ 69,000. Although there are still those who claim that the price of Bitcoin will rise above $ 100,000 before the end of 2020, the industry in general has gradually begun to believe the opposite.
Demirors Signals Cycle End For Bitcoin
Bitcoin’s previous rallies have always been bitcoin The fact that it happened at four-year intervals after the block reward halving, of course, had the effect that a similar situation would be seen on many people.
After the 2012 rally and the record breaking, the fact that no new record was seen until 2016, followed by 2021, actually justifies these “four-year cycle” ideas. CoinShares CSO Meltem Demirors also gave a signal in this direction in his last statement on the subject.
Speaking to Bloomberg, Demirörs focused on 3 factors related to the crypto money sector and underlined that they consist of 4-year cycles, Bitcoin being a highly financial asset and its association with macro markets. Demirors stated that after his explanation of the 4-year cycles and its relationship with the Bitcoin halving, it may have come to the end of a cycle.
Demirors also stated that the “super cycle” tale was actually a self-fulfilling prophecy at one point, and implied that investors acted by believing it and it came true.
the super cycle narrative is, in some ways, a self fulfilling prophecy
“crypto” is no longer a singular asset class but rather a segment w various categories that are all in their own respective cycles and no longer correlated to bitcoin and even ETH https://t.co/EGNEPVCvsW
— Meltem Demir◎rs (@Melt_Dem) December 20, 2021
Bitcoin made its rally in these months exactly in the rally of 2016-17, and the same thing happened again shows that Demirörs may be right.
However, many analysts other than Demirors state that the cycle has not been completed, on the contrary, 2022 will be the year of crypto.