A
A

Bitcoin at $500,000? The “New Monetary Order” Is Underway!

Wed 06 Dec 2023 ▪ 4 min of reading ▪ by Mikaia A.
Getting informed Invest

Like a rocket, bitcoin is gradually approaching its All Time High from November 2021: 69,000 dollars. Currently, the flagship crypto oscillates between 41,000 and 42,000 euros. But this allows some analysts to predict a frenzied race towards other summits.

Rocket icon, bitcoin logo and “$500,000” mention

“Crypto supercycle”: bitcoin at 500 billion dollars

Since October 23rd, when bitcoin once again crossed the 32,000-dollar mark, bitcoiners have had eyes only for their favorite cryptocurrency and do not hesitate to spread rumors of a “bull run.” The icing on the cake, this digital asset has been flirting above 41,000 dollars since yesterday. Enough to confirm without a shred of hesitation the official launch of the bitcoin bull run.

In a recent publication, Bloomberg analyzed this remarkable evolution of BTC’s price. This American news agency first focused on the recent surge in the price of the queen of cryptocurrencies. Then, it reported on the different expressions of joy from bitcoiners on social network X.

But in this article, this bit caught our attention:

The crossing of the 42,000-dollar mark by bitcoin is just the beginning of a new cryptographic supercycle that will push the world’s largest token past 500,000 dollars in what its proponents consider the new monetary order taking Wall Street by storm.

The crypto community has no choice but to rejoice, knowing that bitcoin has shown nothing but strong performances for three months. The bear market that negatively impacted the mindset of BTC investors is over. We are now back to the levels before April 2022.

Canadians who regret having bet on cryptos will have to revise their position on the occasion.

A New Chapter Begins

2022 was a horrible year for cryptocurrencies. At the time, it was questionable whether 2023 would also end in such a way. But certain financial advisers, celebrities, and analysts such as Robert Kiyosaki and CZ remained confident.

The former CEO of Binance, for example, described the crisis at the time as logical and “healthy.” According to him, the cryptocurrency market evolves in cycles: every 4 years, this cycle renews itself.

Therefore, one should not base their judgment on the temporary low prices of bitcoin and other cryptocurrencies, in other words the bear market, before completely disqualifying these assets. Note that several factors can influence the bull run (as well as the bear market): the number of users buying and using cryptos, the emergence of new Web3 projects…

Our fellow writer specified in an article published in 2022 that BTC’s price could be influenced by inflation, the abundance of liquidity, growth, bitcoin halving, geopolitical issues, the decisions of the FED, etc.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.


A
A
Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.