Ad Code

Responsive Advertisement

Submitted articles


Buckle Up: Are We in for another Crypto Roller Coaster Ride?

Buckle Up: Are We in for another Crypto Roller Coaster Ride?

Coinbase released a report predicting a repeat of the 2018-2022 bull market cycle for Bitcoin and the crypto market. The report considers various indicators and suggests that Bitcoin and Ethereum may experience significant price increases. However, it emphasizes the speculative nature of these predictions, given the potential for deviation from previous market trends.

Our analysis of the situation

Bitcoin and the crypto market have been the talk of the town lately, and for good reason. Coinbase, the heavyweight crypto exchange, has recently dropped a bombshell report forecasting a déjà vu moment. The report, co-crafted with Glassnode, predicts that we might just be gearing up to relive the roaring glory days of the 2018-2022 market cycle.

Evidently, the analysts over at Coinbase and Glassnode have been busy crunching numbers and scrutinizing all the telltale signs in the crypto cosmos. They’ve had their eyes on total supply in profit and other such wizardry to give us a juicy hint on where the next bull market might be headed.

If history is anything to go by, the signs seem to be pointing towards a recreation of that epic 2018-2022 cycle. If Bitcoin and Ethereum’s current correlation with the early stages of the previous cycle is anything to go by, we might be in for a wild ride.

But hold on to your hats, folks, because it’s not going to be an exact copy-and-paste job. There are already wily chart deviations throwing us off course, especially as the bull market seems to be revving its engines earlier than in 2020.

Now, about the risk factor – that’s where things get extra spicy. Crypto has once again given the traditional finance markets a cheeky little nudge, dancing to the beat of its own drum. After a flirtation with traditional asset correlation, the report notes that 2023 saw a return to the good ol’ days of crypto's idiosyncratic risk.

A sprinkle of excitement is thrown into the mix with the impending Bitcoin halving event and the feverish anticipation of a Spot Bitcoin ETF. All this jazz, coupled with increased institutional participation, has apparently tamed the crypto volatility beast, with Coinbase noting a steady downward trend in volatility.

So, what if we really are in for a 2018-2022 redux? Brace yourselves for the BTC price to potentially soar to at least triple its previous all-time high, setting its sights on the gilded $200,000 mark. Ethereum, not one to be left out, could follow suit and breach the $15,000 milestone. And the entire crypto market? Well, let's just say it could very well hit the $10 trillion jackpot.

Of course, this is all speculation. Crypto and its whims are notorious for defying expectations, and with the big league institutional players now in the game, who knows what surprises await. The wild cards that institutional investors bring to the table could send the prices soaring beyond the wildest dreams.

So, fasten your seatbelts, dear readers. Whether we're in for a bumpy roller coaster ride or a smooth ascent to the stars, one thing’s for sure – the next act in the crypto saga is going to be one heck of a show!

Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Image(s) are provided by Unsplash or other free sources. They are illustrative and may not represent the content truly.

Post a Comment


Ad Code

Responsive Advertisement