Analysts believe there is no Big Bitcoin Bull Market.

On December 14, Bitcoin pioneer Nick Carter asked the burning question. “Almost everyone thinks we have a bullpen for 2017/18 or 2021/22,” he said.

I'll be the person to ask why. Do you have any basis for this or did you train a model on 2 data points?” he asked.

The question is valid as the state of the global economy is very different from previous cyclical peaks.

Almost everyone here is speculating that we are in for a 2017/18 or 2021/22-esque bull run. Why am I the one asking? Do you have a basis for this or did you train a model on 2 data points?

— nic 🌠 Carter (@nic__carter) December 14, 2023

Mostly positive responses

The first responses Reduction of insertion and extraction It was encouraging for a bull market.

However, Carter has an alternative theory in the efficient market hypothesis (EMH), which suggests that asset prices reflect all available information about the asset.

When applied to Bitcoin, the EMH argues that Bitcoin's price already reflects all relevant information about supply and demand, making it difficult to predict whether the asset will be overvalued or undervalued at any given time.

BitMEX research reveals four major cycle peaks, not two;

But these bull runs inevitably end at some point or the length of the cycle increases significantly.

Bitcoin educator Dan Held commented, “Humanity continues to speculate/gamble. That's the assumption.”

Investment analyst Lynn Alden said she expects the space to generally continue to meet various measures of global liquidity.

There is no firm view on 2024, but I would be a little surprised if the liquidity is not higher by the end of the 2024/2025 period than it is now.

Meanwhile, according to CoinRoutes CEO Dave Weisberger, the Bitcoin network is twice as large as it was at its peak. he said. Bitcoin ETFs unlock the asset. For anyone with a brokerage account or pension fund.

Moreover, many high-profile investors have changed their faith in Bitcoin, increasing the likelihood of its adoption as “digital gold”, he concluded.

A precursor to the bull market

In a separate post, trader Bob Lucas commented on the indicators, which suggests that there will be a big bull run.

Interest rates are at record highs, ETFs are just around the corner, and Bitcoin's four-year cycle has completed its first quarter. “Acceptance in the property segment is accelerating,” he concluded.

Rates are at an all-time high. The first 1/4 of the #bitcoin 4 year cycle is complete. ETFs are coming. Accelerating property class acceptance.

The fit is almost perfect.

The market often checks. Expand the time to weather variability. Time and discipline is key

— Bob Loukas 🗽 (@BobLoukas) December 14, 2023

Earlier this week, Bitwise reported CryptoPotato's prediction BTC reaches $80,000 In the year By 2024, and most of them agree. Speed ​​is back With the digital asset class.