The Surge is not a Bubble – Crypto Analysts

There have been various speculations about the Bitcoin price surge in recent days which ha liken it to the previous surge of 2017 which saw the price rise to an all time high and with the enthusiasm about cryptocurrency on the rise.

Cointick consulted some analyst about the current price and a question put to Micheal Novogratz about how to motivate investors and convince them its not like the previous run.

It was a general view for many of them, they all pointed out that the current surge may not be a bubble and that this run may take the price to a new all time high.

Some reasons for these they say is that the price has once been here before so the economics view of this current surge is a price recovery and not really a surge. They pointed out that a price recovery comes to enforce the solidity of an asset.

An analyst said “when an asset crashes then come back to recover from that crash even if after some time, then it usually points to a good quality about the asset, it means the asset is really valuable”

They also pointed out the enthusiasm around crypto this time which seems different from that of the last time which include Social media adoption and new wave of mass adoption. They said this is the sign that many of those new entrance has been motivated by the fact that they can see thst Bitcoin and cryptocurrency in general really has a value.

Author: CoinTick Editorial

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