Ki Young Ju, the co-founder of CryptoQuant, recently shared an intriguing fact about a Bitcoin miner.
A fascinating revelation came to light about an individual who mined 150 Bitcoin when its value was a mere $0.13. Holding onto this investment for 13 years, they eventually sold it for a staggering $6.5 million. This translates to a mind-boggling profit of 5,019,590,600%. Such stories are a testament to the unpredictable and lucrative nature of the crypto world.
On the trading front, there have been significant movements as well. Some Bitcoin whales have reportedly opened large long positions when the price was around $29k according to CryptoQuant data. These major players’ actions often have ripple effects across the market, influencing the decisions of other traders.
However, the future might not be as rosy as the past. There’s a growing sentiment among parts of the community that the upcoming Bitcoin halving, expected around April/May 2024, might not herald the beginning of a bull run as many anticipate. Instead, it could very well signify the peak of the current Bitcoin cycle that began in 2018 at $3k.
Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸
With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌
Simply connect your wallet to access every coin. No VPN needed.
Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.
Take your trading to the next level with:
- Instant access to banned CEXs 🚫
- No KYC required 🙅♂️
- Trade on your terms – no registration required
- Maintain full custody – tokens stay in your wallet
- Access liquidity across leading DEXs and CEXs
- Bridge assets quickly between any blockchain
Escape CEX limits today with RocketXchange!
Show more +The reasoning shared by analyst CrediBULL Crypto behind this prediction lies in the observation of Bitcoin’s consolidation phases. Some experts believe that the time spent in these consolidation or “chopping” phases will be the longest in the journey to new all-time highs. Once Bitcoin embarks on its parabolic advance, these multi-month consolidations will become a thing of the past.
Historical data supports this view. In previous cycles, the consolidation phases that came before parabolic advances were longer in duration, even though the subsequent price surge was 6-8 times greater. If this pattern holds, the next parabolic phase might conclude around May 2024. This would mean that the next halving could mark the zenith of this Bitcoin cycle.
Furthermore, this analysis suggests that by 2025, the market might be deep into a multi-year bear phase. Those hoping for new post-halving highs in that year might be in for a disappointment. The specifics of this potential “secular bear market” are yet to be fully explored, but many are keenly awaiting further insights.
In conclusion, while Bitcoin’s past has been filled with tales of unexpected riches and market-shaking moves, its future remains a complex tapestry of possibilities. As always, investors and enthusiasts are advised to stay informed and tread carefully in the volatile world of cryptocurrencies.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
