The bitcoin bull market is here. It’s happening again and it’s happening faster than we think. And so, as we anticipate Bitcoin’s next big move, some, like MicroStrategy Chairman Michael Saylor reminisce about the good old days.
Bitcoin seemed to be taking a nostalgic pause, hovering in the sweet spot between $26,500 and $28,000 before Monday, October 23rd.
And then – just like that – bitcoin’s trading at 35,000.
“I Wish it didn’t happen so fast. You don’t want it to happen that fast. These are the days where you can work at a job at McDonald’s and buy Bitcoin. In ten years, you’re gonna realize it was the most lucrative thing you’ve ever done in your life,” says Saylor, emphasizing the golden opportunity presented in this bear market.
Meanwhile, Nicholas Merten, crypto influencer and founder of DataDash, waves a caution flag. His prognosis is a potential dip for Bitcoin, contingent on a looming recession.
Merten’s theory stands on the shoulders of fluctuating commodities, suggesting that a stabilization in oil, natural gas, and uranium prices might foreshadow economic headwinds. He recalls the 33% equity correction in October 2022 and warns of Bitcoin potentially revisiting the $15,000-$17,000 range.
For now, in the serene phase of Bitcoin’s seemingly early stage of a new bull market, the crypto community basks in the glow of what might be remembered as ‘the calm before the storm’.
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