Weiss Group: Parabolic Rise In Cryptocurrency
The Weiss Group is becoming known for their analysis and rating of different cryptocurrencies.
For crypto holders, it would be best if the past did, indeed, equal the future.
In a couple weeks, we are going to see the halving of Bitcoin. This has put people all over the board in terms of the opinions of what will happen after it takes place. Some believe this will set off a major run while others seeing the price of BTC actually declining due to the halving.
Obviously, there is no way to tell until it happens. What we do know is that, in the past, the halving eventually led to an explosion in BTC and, ultimately, in the crypto space.
Will it happen again?
The Weiss Group seems to think so. In an interview, Dr. Martin Weiss explained how they see things happening after the halving takes place. Their analysis is based upon the past halvings which led to some out-sized returns.
Weiss says historically, the BTC halving has “unleashed a historic bull market in cryptocurrencies, creating massive wealth for investors.”
The challenge is that it is always easy to catch things in hindsight. It is being ahead of the curve that is a bit more difficult.
It is also worthy to note that Weiss is promoting a new service they are offering, thus he might be sugarcoating things a bit to lure in customers.
That said, he is not the only one to take this position and does use past events in the analysis. He also goes on to state how it is written in the code, meaning that it is ready to be unleashed again.
A rare event will soon trigger a massive cryptocurrency superboom, sending Bitcoin and other select coins to new, all-time highs.Because this trigger event is built right into the code. No government, no organization, and no group of individuals, no matter how rich or powerful can prevent this trigger from being pulled. And every time this event has occurred in the past, it has always unleashed a historic bull market in cryptocurrencies, creating massive wealth for investors.
Indeed, as the following chart shows, the last two halvings of Bitcoin did unleash bull markets that saw enormous rises in value for many tokens.
Does this mean it will happen again?
Obviously, the cryptocurrency space is much different than it was 4 years ago. A lot of development took place which saw the industry mature a great deal. While much bigger than it was during the last halving, it is still a relatively small market overall. Parabolic runs are not inconceivable for a market that is worth roughly $225 billion.
We also have another question: which tokens will benefit?
There is an adage that "rising waters lift all ships". Could we see this in effect this time? I am not sure that everything will benefit but projects with a bit of name recognition and something behind them should do well if this run does take place.
Depending upon how things go over the next couple months, cryptocurrency could benefit from the events in other markets. Thus far, after a big drop, the stock market held up well. Bonds are taking it on the lip and real estate is likely headed for a downturn. If the stock market turns south, especially violently, investors might look for returns elsewhere. A bit of a run in crypto could kickstart something much bigger.
Would that be due to the halving? Not really. In this instance, it would be just a timing issue. However, it is a scenario that could play out.
The flip side is this might be much about nothing. Bitcoin might keep going along in a similar fashion even after the halving takes place. It is highly possible that it does not impact the Alt-Coin market and, after some adjustment by the miners, things maintain their present course.
Outside of Bitcoin, the rest of the cryptocurrency world suffered through a bear market that is more than two years old. Even Bitcoin is down significantly from its high. At some point, markets turn around. With all the growth in activity the last couple years, the industry is much stronger than it was during the bull run of late 2017.
How will all of this affect HIVE?
If things do take off in a big way, the fact that Hive got a great deal of attention the last couple months is only going to help. It is a token that, for now, is on the minds of many in the crypto world. Thus far, there are few negatives that can be pointed to it if the bull were to hit in a month or two.
That said, it is the new kid on the block so it is easy for it to be overlooked. There are still few exchanges that listed HIVE although they are growing.
In the end, the success of HIVE will come down to the utility behind it. I believe that about all crypto tokens (Bitcoin might be the exception). Therefore, the more activity that is taking place, the greater the value it carries. Eventually, the price will reflect tha.
What are your thoughts on the halving of Bitcoin and how it affects other tokens?
Images and the information about Weiss's comments can be found in this article.
https://news.bitcoin.com/bitcoin-halving-theories-whale-says-price-rise-is-a-nonsensical-narrative-weiss-ratings-expects-massive-crypto-superboom/
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