According to the expert, the optimistic expectations of a rapid growth of bitcoin this year have no reason, since the volume of coin purchases do not grow sufficiently:
“How the hell can grow a coin if there is no appropriate amount of purchases. $ 200,000 by the end of the year? Can this happen? Of course, but very unlikely. However, after five years, the price will probably exceed $ 200,000. ”
According to the representative of Glassnode, many investors do not understand that the rapid growth of bitcoin without fundamental support can be replaced by the same rapid drop in the quotations, which they, investors, are not ready for.
The analyst believes that it is impossible to discount historically the cycles of the first cryptocurrency. The asset remains only a few months of growth in quotations, and then a long -term consolidation phase will come – only the presence of powerful fundamental reasons will help Bitcoin demonstrate a stable rally, the check said.
Earlier, Glassnode experts have reported that over the past few weeks, new investors have been invested in bitcoins over $ 16.75 billion, which indicates the growing optimism of the cryptorrhist.
Source: Bits

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