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Category: Forex News, News

Bitcoin Vet Charlie Shrem Foresees ‘Last’ Bull Run

A statement by the first Bitcoin Foundation’s vice chairman triggered […]

A statement by the first Bitcoin Foundation’s vice chairman triggered a discussion about the long-term prospects of crypto volatility and market cycles in digital assets. Why might the new bullish cycle be special?

“Epic and last”: Charlie Shrem on starting bull market

The next bull market phase for Bitcoin (BTC) and other cryptocurrencies will be epic, but it also might be the last one. Such an unusual prediction was shared by Bitcoin (BTC) pioneer Charlie Shrem with his 255,000 followers on X (formerly Twitter) yesterday, Feb. 2, 2024.

According to him, the segment getting mature will be the reason for the “last” Bitcoin (BTC) bull market.

The thesis about “maturation” of Bitcoin (BTC) and cryptocurrency markets is popular among analysts and traders. As more and more liquidity is injected into the crypto sphere, its volatility declines.

As such, Bitcoin’s (BTC) performance looks more and more like that of S&P 500 or even Gold. Major altcoins, including the likes of Ethereum (ETH), Cardano (ADA) and Polygon (MATIC), replicate this pattern.

As covered by U.Today previously, Bitcoin’s (BTC) annualized volatility dropped to 45%, which is more than 4x lower than the peak registered in 2012.

Ups and downs until 2140?

The majority of Shrem’s followers challenged his position. Some of them agreed that the volatility of Bitcoin (BTC) and crypto will decline, but the longevity of new asset classes will remain undisputed.

Other commentators foresee that Bitcoin (BTC) will see its last cycle in early 2030s, while the most passionate advocates opine it would be relevant until the last Bitcoin (BTC) is mined in 2140.

Charlie Shrem IV is one of the most prominent early figureheads of the Bitcoin (BTC) movement. Back in 2011, he founded BitInstant, a service for seamless BTC purchasing that was processing 30% of all Bitcoin (BTC) trading volume.

As U.Today reported in 2018, he was also known as one of the first Bitcoin (BTC) millionaires.

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