CoinDesk Podcast Network MARKETS DAILY: Crypto Update | When's the Best Time to Buy Bitcoin?
Nov 27, 2024
Michael Terpin, CEO of Transform Ventures and a pioneering crypto entrepreneur, shares riveting insights on Bitcoin's price struggles as it attempts to break the $100,000 barrier. He discusses Bitcoin's cyclical market trends and the psychological factors influencing investor behavior. Additionally, Terpin reflects on the impact of political events and macroeconomic factors on price dynamics. He also notes potential price corrections and offers a contrarian view that pullbacks could present lucrative buying opportunities for savvy investors.
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Bitcoin Seasons
- Bitcoin's price movement follows a four-phase cycle: spring, summer, fall, and winter.
- Bitcoin summer begins after the halving and passing the previous cycle's all-time high.
Diminishing Returns in Bitcoin Cycles
- Historical Bitcoin cycles show diminishing returns, with the first cycle returning 100x and the third 9x.
- This cycle, with favorable macroeconomic conditions, is projected to return 3x, reaching $193,000 by the end of next year.
Bitcoin Investment Strategy
- Buy Bitcoin low, during the "Bitcoin winter", and sell high.
- Avoid buying when hype is highest and consider taking profits, contrary to "HODL" strategies.
