Bitcoin has been sliding down, and with the lack of capital, there are many questions which are being raised for the future of bitcoin. There are many analysts which argue the legitimacy of the markets. There has been some volatility and liquidity, which are some of the most critical factors. There is scarcity in its algorithm can be the main factors which can allow the value to change even in the future.
Alex Kruger, a macro cryptocurrency analyst, conducted a poll where the majority of the crypto participants taught that bitcoin is going to mature itself which will settle into the wide price range resembling the traditional commodities in real terms. There is something to settle into the range which allows one to trends in nominal terms which can be due to inflammations as well as other commodities. But, when bitcoin matures and settles, there is a budding market which can capture the potential and allow it to grow furthermore.
Another crypto on-chain analyst by the name Willy Woo said the BTC is one the verge of discovering their price ceiling. It is estimated that anywhere between 10 trillion and 100 trillion is a fair game. Also, with the added effects of BTC market capitalisation, it was a measurement in the total coins which can be circulated to help bring the right price back. Today, it is $233 billion and can be very volatile as well. With the lack in the capital space right now, it has a cap increases and can easily impact the space. The Market cap increases and can impact the BTC in the larger market space where it can be less impactful even for the shifting price.
There are also other factors which play with the volatility that can be very attractive to the cryptocurrency trading. As Nic Carter, who is a partner at Castle Island Ventures into the capital firm, there is a public blockchain which is also a commodity. The lack of supplies can easily demand shock and ensure that there is not volatility remaining in the future. There are also other rewards which can allow one to get the coin for half its transaction value. The scarcity tends to be a very fundamental driving force which can easily increase the value of the asset. This is working the same as oil, gold, or diamonds.
This is with great confidence that global adoption can be established and can allow one to grow steadily and bring the right purpose to the markets which can match which can have a growth consistently, which is purposeful. As the BTC market cycle is yet to be determined, it can be proven to have a higher value in the near future.
