Perspective: Long-Term Bitcoin Chart Shows How Far Away The Top Could Be

Et0qflEUYAEXJjJ 980x524

Bitcoin price charts are an amazing sight to behold. Past market cycles that used to look like bubbles that popped and fizzled out, eventually are eclipsed by the next major crypto uptrend. Another such instance is well underway, but when zooming out, the perspective shows just how distant the peak of this current cycle very well could be from here. Bullish Bitcoin Bubble Is Nowhere Near Popping, Past Cycles Show Bitcoin derives its value from a variety of factors, notably its hard-coded digital scarcity, and its underlying decentralized network. The two facets of the cryptocurrency work in tandem in such a way that creates boom and bust cycles, drawing more and more users into that network. The cryptocurrency was designed to every four years reduce its newly minted supply by half, prompting an exponential price increase as demand rises beyond BTC reserves on exchanges. Awareness of this cycle has made…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE