Does the BTC Bull Market Come or Not?
According to Huobi Global’s data, Bitcoin prices have risen markedly since May, although there have been several declines in the middle, but overall it is still a good trend. The price of Bitcoin is $7891.37 (the price at the time of writing).
Bitcoin broke through $8,000 in the early hours of May 14th, then briefly fell back below $7,700 and then began to pick up again, breaking the $8,300. The high position of Bitcoin has also made many people think that it is a sign of the arrival of the bull market. However, the current market is not stable, as Bitcoin prices are still changing. Therefore, the conclusion about the arrival of the bull market is inevitably controversial.
Regarding the topic of “whether the bull market is coming”, people in the industry express different views.
Tom Lee: the crypto winter is over
One of the strong advocates of the Bitcoin bull market is Tom Lee, Fundstrat Global Advisors co-founder. He has claimed that the crypto winter is over in a tweet on May 19.The most disturbing fall in Bitcoin was the rapid fall to $6,200, which then surged above $8,200. It is now possible to confirm that the crypto winter has passed.
Arthur Hayes：the bull market is real
Another analyst who believes the bull market is already real is Arthur Hayes, the CEO of BitMEX. On Twitter, Arthur Hayes shows his positive sentiment around virtual currencies. He writes,
“The bull market is real. A momentary dip below 7k, and a few days later we are back above 8k and the Jun and Sep contracts are in contango. Booyah!”
John Crudele: Bitcoin will soon be worth zero
For Bitcoin, the debate has always existed for the current market situation. Among them, the characters against Bitcoin also include New York Post reporter John Crudele. Crudele recently issues a statement saying that Bitcoin will soon return to zero. Crudele states in his other article that Bitcoin is indeed a scam. At the same time, Bitcoin had plunged about $1,000 last Thursday and then fell back to around $7,000. Crudele adds that Bitcoin will soon return to zero.
Tuur Demeester: the market is in a state of fight between the bear market and the bull market
Compared to John Crudele’s absolute attitude, digital currency economist Tuur Demeester appears to be relatively modest. Recently, Tuur Demeester also published a prediction about whether the bull market has arrived. He states that the market is currently in a state of fight between the bear market and the bull market. He says, “I am not going to say that we are in a new bull market, but I do believe that we are in the final stages of the current bear market.”
The original nature of Bitcoin determines that it is impossible to maintain a certain stable market state, which means that as long as there is a price change, it will cause controversy. In fact, Bitcoin itself is a controversial existence.
In fact, compared to the $3,000 a few months ago, it is indeed a Bitcoin bull market. But Bitcoin is changing, and the answer is changing. Who can say it right?
This article is originally created by UU.Block. If reproduced, please indicate the source.