Mati Greenspan: Bitcoin’s flight to the top „is just getting started“
The analyst believes that price jumps of more than 250% could become the norm in the future.
In his new newsletters, the founder of Quantum Economics reiterates that Bitcoin’s recent jump above the $23,000 mark, which saw a gain of almost 29% within the last week, is not necessarily a sign that the market is „overheating“ and will soon crash as it did during the record run in December 2017.
„In our opinion, it’s just getting started,“ as Mati Greenspan writes accordingly. „We probably shouldn’t use old benchmarks to evaluate the current gains.“
Accordingly, a sharp rise does not necessarily indicate an all the more severe downturn; rather, a new normal of large price jumps may be establishing itself.
To that effect, he explains:
„If demand continues to increase and supply continues to decrease, then it’s very conceivable that we’ll see price jumps of 250% or even more on some days.“