{"id":564584,"date":"2023-12-08T18:00:07","date_gmt":"2023-12-08T18:00:07","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=564584"},"modified":"2024-06-11T07:40:59","modified_gmt":"2024-06-11T07:40:59","slug":"bitcoin-has-been-in-a-class-of-its-own-for-the-last-10-years-top-expert-says","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/bitcoin-has-been-in-a-class-of-its-own-for-the-last-10-years-top-expert-says\/","title":{"rendered":"Bitcoin Has Been In A Class Of Its Own For The Last 10 Years, Top Expert Says"},"content":{"rendered":"
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Bitcoin has encountered a critical resistance level going into the weekend and could move sideways following a massive rally. According to an expert, the cryptocurrency has been breaching every major obstacle, making it one of the best-performing assets. <\/strong><\/p>\n

Related Reading: Bitcoin Price Dips To $43,200: Buy Or Sell Now? Analyst Predicts Trend<\/a><\/div>\n

As of this writing, Bitcoin (BTC) trades at $43,600 with sideways movement in the last 24 hours. Over the previous seven days, BTC recorded a 14% increase, with Ethereum following its footsteps, recording a 13% rally.<\/p>\n

\"Bitcoin
BTC’s price trends to the upside on the daily chart. Source: BTCUSDT on Tradingview<\/a><\/strong><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Bitcoin vs. Gold: The Digital Currency’s Journey to $40,000<\/h2>\n
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Jurrien Timmer, Director of Macro for Fidelity, offers<\/a> insightful analysis of Bitcoin’s trajectory, likening it to “exponential gold.”<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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His thesis suggests that Bitcoin, much like its elder counterpart, gold, holds value in times of structural inflation, yet it boasts an added venture twist. In that sense, Timmer believes both assets are prime to capture attention from investors looking to protect themselves from “reckless monetary inflation.”<\/p>\n

As seen in the chart below, if Bitcoin follows a similar trajectory to the previous, its price could target $100,000 and $1,000,000 by early 2025.<\/p>\n

\"Bitcoin
BTC’s price potential to reach $100,000 and $1,000,000 if it follows previous trajectories. Source: Jurrien Timmer via X<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

2020 was pivotal for Bitcoin and gold, with fiscal and monetary stimulus bolstering their appeal. However, Bitcoin differentiates itself with its capped supply of 21 million coins, contrasting gold’s continual but modest annual supply growth.<\/p>\n

This limited supply has propelled Bitcoin’s “stock-to-flow” (S2F) ratio significantly higher than gold’s. Moreover, Bitcoin’s journey reflects the classic S-curve path of technological innovations. Its exponential growth trajectory mirrors historical trends in technology from railroads to cell phones.<\/p>\n

However, predicting Bitcoin’s future based on these S-curves is complex, as slight deviations in these growth phases can “dramatically” alter outcomes, the expert claims.<\/p>\n

SEC Deliberations And Institutional Interest Shape Bitcoin’s Future<\/h2>\n

Timmer’s observations include a potential impact of the SEC’s anticipated decisions on the Bitcoin spot Exchange Traded Fund (ETF). He theorizes that pending product applications could attract new investors, yet he remains cautious about whether this will trigger a “sell-the-news” event and a large drawdown.<\/p>\n

Interestingly, a small percentage of Bitcoin is held for under three months, suggesting that the recent price surge is not merely “speculative,” offering support for a longer bullish trend.<\/p>\n

The true believers in Bitcoin, as indicated by the growing percentage held for over five or ten years, are unlikely to be swayed by short-term news. However, there is notable activity in the Bitcoin futures market, particularly among asset managers, which could suggest anticipation of the SEC movement.<\/p>\n

\"Bitcoin
BTC investors held on to their coins despite the extended massive trend. Source: Jurrien Timmer via X<\/figcaption><\/figure>\n

Any updates from the SEC would arrive in a transformed macroeconomic environment. Unlike the liquidity-rich period of 2020-21, the US Federal Reserve’s (Fed) recent policy shifts have reversed the surge in monetary inflation.<\/p>\n

This shift aligns the current situation more with the post-World War II era than the inflationary 1970s, impacting the urgency of the value proposition for gold and Bitcoin.<\/p>\n

Related Reading: Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K<\/a><\/div>\n

As BTC matures, its relationship with traditional financial markets and global economic trends becomes increasingly intricate. With the SEC’s decision and a shift in the macro-arena, the coming months are poised to exercise influence over the premier cryptocurrency and the nascent sector.<\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has encountered a critical resistance level going into the weekend and could move sideways following a massive rally. According to an expert, the cryptocurrency has been breaching every major obstacle, making it one of the best-performing assets. Related Reading: Bitcoin Price Dips To $43,200: Buy Or Sell Now? Analyst Predicts Trend As of this writing, Bitcoin (BTC) trades at $43,600 with sideways movement in the last 24 hours. Over the previous seven days, BTC recorded a 14% increase, with Ethereum following its footsteps, recording a 13% rally. Bitcoin vs. Gold: The Digital Currency’s Journey to $40,000 Jurrien Timmer, Director of Macro for Fidelity, offers insightful analysis of Bitcoin’s trajectory, likening it to “exponential gold.” His thesis suggests that Bitcoin, much like its elder counterpart, gold, holds value in times of structural inflation, yet it boasts an added venture twist. In that sense, Timmer believes both assets are prime to capture attention from investors looking to protect themselves from “reckless monetary inflation.” As seen in the chart below, if Bitcoin follows a similar trajectory to the previous, its price could target $100,000 and $1,000,000 by early 2025. 2020 was pivotal for Bitcoin and gold, with fiscal and monetary stimulus bolstering their appeal. However, Bitcoin differentiates itself with its capped supply of 21 million coins, contrasting gold’s continual but modest annual supply growth. This limited supply has propelled Bitcoin’s “stock-to-flow” (S2F) ratio significantly higher than gold’s. Moreover, Bitcoin’s journey reflects the classic S-curve path of technological innovations. Its exponential growth trajectory mirrors historical trends in technology from railroads to cell phones. However, predicting Bitcoin’s future based on these S-curves is complex, as slight deviations in these growth phases can “dramatically” alter outcomes, the expert claims. SEC Deliberations And Institutional Interest Shape Bitcoin’s Future Timmer’s observations include a potential impact of the SEC’s anticipated decisions on the Bitcoin spot Exchange Traded Fund (ETF). He theorizes that pending product applications could attract new investors, yet he remains cautious about whether this will trigger a “sell-the-news” event and a large drawdown. Interestingly, a small percentage of Bitcoin is held for under three months, suggesting that the recent price surge is not merely “speculative,” offering support for a longer bullish trend. The true believers in Bitcoin, as indicated by the growing percentage held for over five or ten years, are unlikely to be swayed by short-term news. However, there is notable activity in the Bitcoin futures market, particularly among asset managers, which could suggest anticipation of the SEC movement. Any updates from the SEC would arrive in a transformed macroeconomic environment. Unlike the liquidity-rich period of 2020-21, the US Federal Reserve’s (Fed) recent policy shifts have reversed the surge in monetary inflation. This shift aligns the current situation more with the post-World War II era than the inflationary 1970s, impacting the urgency of the value proposition for gold and Bitcoin. Related Reading: Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K As BTC matures, its relationship with traditional financial markets and global economic trends becomes increasingly intricate. With the SEC’s decision and a shift in the macro-arena, the coming months are poised to exercise influence over the premier cryptocurrency and the nascent sector. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":535,"featured_media":564585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,682,1119,1122,89713,90821,78790,2209],"class_list":["post-564584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price-chart","tag-btc","tag-btc-price","tag-btc-price-chart","tag-btc-price-history","tag-btcusdt","tag-gold"],"acf":[],"yoast_head":"\nBitcoin Has Been In A Class Of Its Own For The Last 10 Years, Expert Says<\/title>\n<meta name=\"description\" content=\"Jurrien Timmer, Director of Macro for Fidelity, offers insightful analysis of the Bitcoin trajectory, likening it to "exponential gold."\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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