Dan is currently Growth lead at Kraken.
Dan Held, is working on key theories about the Bitcoin "supercycle." According to his estimates, the price of BTC could rise to $ 1 million. However, what will happen to BTC after it reaches the peak is a completely different matter.
Dan Held expressed his opinion in the latest podcast "What Bitcoin Did". He said that the correction seen by the market will probably ease after the rally. He said:
"Certainly, BTC will not only increase from $ 20,000 to $ 100,000. It can increase from $ 20,000 to $ 1 million and then just smaller cycles. This could be one of the last big cycles. "
In the interview, Held explained exactly what this super cycle is. According to him, the current flow of Bitcoin at this time will not be stopped by an upward correction, in other words, nothing to stop the Bitcoin bulls.
👉 Here is the interview and let's see more in this article right here.
Held gave the $ 300,000 mark as a benchmark to describe the story of the price increase. He asked the following questions ---> what if Bitcoin exceeds the $ 300,000 mark? Do you think anyone will sell? He said this might happen, but all of a sudden, there will be wild talk about super-race stories, just like when people want stories to appear that match the prices displayed.
He added:
"We see this happening the other way around, like when Bitcoin fell a few days ago. The pessimists come out and say, "Oh, it's the end of Bitcoin, sell all your Bitcoin, I was right," but then the market recovered, and people continued to grow. ”
According to him, unlike the previous bull cycles, when the largest cryptocurrency in the world fell by 80% after hitting ATH, the current bull race would not follow such an old pattern. Instead, at the end of the current race, according to his forecast, "Bitcoin is likely to correct only for a short time."
▶️And how about this last November Tweet of this other guy? 👇👇👇
Going back to Dan Held, he went on to explain:
"Everyone thinks the same thing: "Oh, it's sure to be a cryptic winter, BTC will drop 80% after the peak." Maybe this will happen, but there are a lot of other things to do with this cycle. What if it was just a very mild winter and not as bloody as everyone thinks? "
Bitcoin is in an unusual cycle due to the mass adoption of financial institutions. The growing participation of institutional investors, the economic slowdown has been exacerbated by COVID-19 on a large scale, and the optimistic thinking of the public towards Bitcoin ... all will affect the consolidation period.
A recent survey published by Deutsche Bank stated that this generation of the Millennium (people born in the years 1980 - 2000) will use more and more cryptocurrencies instead of cash and bank cards.
I think we're ready for whatever changes will happen to BTC.
We're here now. We are informed. We stick together and we are helping each other. This is the power of the Hive ecosystem that I have noticed.
I feel that Hive gives a sense of community and I feel much comfortable talking about crypto in here than in any other place.
Thank you for reading!
