Is This A Different Bull Market For Bitcoin?

This question has been in my mind. Perhaps it was in your as well. When Bitcoin lead the crypto market at the end of 2020 and the beginning of this year, it did seem like a repeat of 2017. If you remember the summer of 2017 was amazing for all of crypto. If we would to judge the same is going to repeat this summer Hive will easily be trading at $2 and above.

However, some of the indicator have been signaling end of bull run and start of the bear market. I have actually shared these thoughts in chats as bear market started when bitcoin was at around $57k. I don't know anything. There were just thoughts going through my mind.

The Daily Hodl just released an article on the topic - Bitcoin’s Bull Market Different From Previous Cycles, Says Analyst Benjamin Cowen – Here’s Why

The article starts with an interesting quote - "Each cycle, it’s going to get harder and harder to push it up the curve, and the reason, again, is because the market capitalization is growing, [and] it takes exponentially more volume to grow the price.”

It does make sense, by mind takes me to other places as this market is different because of interest in Bitcoin by entities with access to larger funds. While retail has proven to move markets when united, retail doesn't have the same funds available as the companies and countries. The narrative has changed from retail to save their properties to companies and countries.

I agree that interest in Bitcoin as store of value can be of great benefit to any entity regardless of how large their wallets are. Perhaps this is the difference in a current bull run. Perhaps what we have seen last couple of weeks is just a correction in the middle of the bull run. I would like to believe that. I hope it is so. But at the same time I am cautiously optimistic. I can't ignore the technical analysis that scream the opposite.

In any case, one strategy that has proven right for many for a long time is - HODL. One thing has been true about Bitcoin that it always goes back to its all time high price. Time is the only thing required. Given enough time, Bitcoin climbs back to its previous all time high and then some.

This bull cycle is same as the previous or not, we know in the end Bitcoin will outperform all other assets. Keep calm, hold away. It would be great to see another great run for Hive. Summers usually capable of a lot of surprises. Let's hope it a good one.

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