I believe the next encryption skyrocketing
To da moon is the limit of Bitcoin, which is what Bitcoin (BTC) enthusiasts believe in anyway. As the cryptocurrency market emerged from the bear market, it has risen more than 100% since the beginning of 2018. Many people are convinced that the "encrypted winter" has ended and the next round of gains is continuing. Although the expectations for the next bull market are different, most people agree that the next round of market cycles will be more intense than any previous round.
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According to Diehard, a fund manager at Goldman Sachs, who is a cryptocurrency fund, he pointed out that Square's cash application has become the first financial app for the Apple AppStore. Although this seems to be unrelated to cryptocurrencies, in fact, according to data released at the end of April, Square received $65.5 million in bitcoin revenue, which means it bought $60.5 million worth of bitcoin. Assuming the average price of Bitcoin in the first quarter was about $3,790, Square sold about 17,300 BTC during this time—the cost and spread of the cash application were not taken into account. During the same time period, if the Bitcoin network maintains its standard release of 1800 BTC per day, 162000 BTC is mined. This means that Square users get 11% of BTCs through their purchases.
Misir pointed out that this is relevant because the upcoming rally will be "the first bull market, during which an established financial company allows you to buy bitcoin", adding a playful "fastening" to emphasize this The importance of a point.
In addition, blockchain.com, Coinbase, and other encryption-related applications have become popular in app stores around the world, which means retail interest is growing. However, the reason why the square is so important is because it is trustworthy and also a huge entrance.
This is not the only reason that bitcoin fanatics believe that the next round of rally will be ridiculous. Marty Bent, co-host of Underground Story, recently explained that as infrastructure is stronger than ever, block returns and geopolitical tensions, the US-China trade war, have reached This will be "awesome" for heights that have not been reached for many years.
Where is the next peak of Bitcoin?
This raises a question, where will the next peak of Bitcoin be?
Level's Josh Lager believes that in the three complete cycles of Bitcoin, the gain from the trough to the peak is about 80% each time, which is a concept defined by the law of diminishing returns. As Rager pointed out, the rebound rate in 2011 was 320,000%; in 2014 it was 5,850%; in 2017 it was 12,000%. Therefore, if history continues to the kick-off point, the BTC will rebound 2400%, making it possible to be as high as $80,000 or $78,500.
However, some people are more optimistic. Analyst Galaxy said Bitcoin's last monthly chart structure looks the same as it is now, followed by a price surge of 6500% in two years. Therefore, Galaxy pointed out that according to historical precedents, by the end of 2021, the previous bullish market will bring BTC to more than $333,000 per unit.
Regardless of which analysis is correct, the consensus is that in the next few years, BTC will be more valuable than it is now. (chain to finance)