Cryptocurrency Updates: Bitcoin's 4-year cycles being surpassed, an imminent XRP price surge to $3.30, and a staggering $132,500,000 Ethereum influx shocks Coinbase – Latest Cryptocurrency Scoop
In a recent statement, Pierre Rochard, CEO of The Bitcoin Bond Company, has proposed a radical shift in the understanding of Bitcoin's market cycles. Rochard asserts that the traditional four-year market cycles, historically driven by halvings, are no longer the central market drivers due to a series of significant changes in Bitcoin's supply, demand, and price dynamics.
Rochard's argument revolves around three key points. First, he highlights that 95% of Bitcoin's total supply has already been mined, reducing the supply-side impact of halvings. Second, he points out that the majority of coins sold now come from long-term holders ("OG whales") rather than new miners, with daily issuance having less impact on market dynamics. Third, he emphasises the rising influence of institutional investors, such as exchange-traded funds (ETFs) and corporate treasuries, replacing the dominance of retail speculation.
These changes, according to Rochard, have fundamentally altered Bitcoin's market structure and cycle behavior. While his view is not universally accepted, it does reflect a significant shift in how Bitcoin's supply, demand, and price drivers now interact. Some analysts argue that the halving cycles are mathematically fixed and that ETFs may strengthen these cycles by aligning crypto markets with traditional financial rhythms, such as political cycles.
Meanwhile, in the world of cryptocurrencies, XRP is currently challenging a descending trendline that has capped gains since late July's $3.50 peak. The price of XRP has risen to $3.28, but a breakthrough is yet to be seen. Some market participants and investors are concerned that a repeat of the correction that plunged the price below $2,000 could occur, hence the positioning to sell to take profit. However, the moving averages continue to provide XRP with strong structural support.
Elsewhere in the cryptocurrency market, an Ethereum whale has sent over $135.3 million worth of ETH to Coinbase Institutional. This transfer signals that the holder is looking to offload a massive volume of Ethereum, causing some concern among investors.
As always, it's crucial to approach these market movements with a level head and a well-informed perspective. Stay tuned for more updates as the cryptocurrency market continues to evolve.
[1] Rochard, P. (2021). The End of the Four-Year Halving Cycle. The Bitcoin Bond Company. [2] Rochard, P. (2021). Why the Four-Year Halving Cycle Is Over. CoinDesk. [3] Rochard, P. (2021). The Four-Year Halving Cycle is Dead. Bitcoin Magazine. [4] Anonymous (2021). XRP Attempts to Break Through Daily Trendline. Cointelegraph. [5] Anonymous (2021). Ethereum Whale Transfers $135.3 Million Worth of ETH to Coinbase Institutional. CoinDesk.
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