Bitcoin’s price since the beginning of October has been on a major upswing. Developments across the market, such as growing institutional adoption and the launch of a Bitcoin exchange-traded fund (ETF), are among the factors attributed to these gains.
Despite gaining by almost 100% since the lows of $30K reported in late July, one analyst still believes that Bitcoin has not yet entered into a “bubble”, predicting more gains to come.
The Real BTC Bubble is not here
According to an analyst on Twitter who goes by the handle venturefoundEr, investors are yet to see the real Bitcoin bubble.
“Bubbles form when the momentum of short-term returns attracts enough money that the makeup of investors shifts from mostly long-term to mostly short-term,” he wrote. This could add to the argument that the current bull market has been inspired by institutional investors and that retail investors have yet to join the … Read more