Bitcoin is pumping. And comments from the world of social media, which confirm the bullish price outlook, follow immediately. But there is still a long way to go before the high of the current cycle.
Leisurely and then all of a sudden. This is roughly how the FOMO-induced price behavior of crypto currency No. 1 can be summarized. In bull markets, price jumps of 10-15 percent in a very short time are nothing new, but the last Bitcoin Bull Run was now more than three years ago. And so these days Bitcoiners are celebrating their devotion to feeding through the bear market. Always with you: a little pinch of “I told you so”.
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Preston Pysh has done a lot in life. As an aerospace engineer, he served in the US Army for years. With The Investors‘ Podcasttogether with his co-host Stig Broderson, he reaches an investment-enthusiastic audience of millions. Recently, however, the investor has emerged as one of the most bullish advocates of the No. 1 cryptocurrency. In his most recent appearance on the Stephan Livera Podcast , Pysh put forward the thesis that Bitcoin could break the threshold to become a world reserve currency in this bull market.
If that doesn’t work, then it should be ready by the peak of the following halving cycle at the latest
I think hyperbitcoinization can happen as early as this cycle. At the latest, however, it should happen after the next cycle. It will take a maximum of 7.5 years.
Such statements astonish even bullish Bitcoiners. But the idea is not unfounded. After all, the central banks contribute to a self-reinforcing spiral with their monetary policy. Bitcoin as a verifiably limited asset could soak up all this excess liquidity as an investment.
We have been able to observe over the past few days how fast BTC can soar.