Bitcoin Futures Will Prevent Another Bull Run, Founder of BlockchainBTM Says
The crypto market is going through some pretty good times. After this week’s bull run, BTC went from 3.6k to over 4k, a critical resistance that could mark the beginning of a bullish trend.
However, much time has passed since the last bull run until now, and ever since 201, the market has matured a lot, and the technology has evolved considerably, even changing the way investors and the community see things.
Bullish sentiment seems to be common among prominent analysts and personalities in the world of cryptocurrencies. As reported by Ethereum World News, the most popular analysts from Tradingview seem to agree that it is possible that a trend reversal is taking place leading to significant price increases for Bitcoin (and the rest of the cryptocurrencies).
However, before you start thinking about the color of your new Lambo, it seems that the bullish trend will not be as accelerated as in previous years. In fact, it’s possible that 2017 is considered an atypical episode in the history of Bitcoin.
In an interview for the Block Publisher, Javad Afshar, the founder of BlockchainBTM, a crypto ATM operator in the United States shared his impressions about the future of cryptocurrencies taking into account the evolution of the markets.
For the expert and successful trader, it is entirely possible that there is a bullish trend; however, the high popularity of futures markets will prevent such a pattern from having an exponential growth by allowing speculators to “bet” against it:
“This 2017 phenomena happened because there was no instrument for the speculators to short the market. Now that we have the future markets for bitcoin, speculators can short the market whenever it gets out of hand.”
2017 was a year of utmost importance for Bitcoin and the rest of the cryptocurrencies. The exponential growth of its price brought a level of interest in these technologies never seen before.
However, it could be said that such great interest came with a great immaturity. Many invested merely attracted by a price that did not seem to fall, and precisely after the inauguration of the first significant futures markets, the trend reversed, and the cryptocurrencies fell almost as hard as they rose.
Mr, Afshar believes that in case Bitcoin has a bullish trend, it is improbable to recreate the behavior of 2017:
“We do not anticipate another wild bull run on bitcoin such as the one that happened in 2017 …
If the bitcoin price has bottomed at around $3,000 and assuming it’s in the bull market, the price will only go up gradually.”