There are still a few who are skeptical about the growth potential of Bitcoin investment. They are of the belief that BTC no longer holds the capability to generate massive returns. A recent post by Econometrics presents a few points powerful enough to counter the negative anticipation about Bitcoin’s future. It’s high time to launch a discussion over this!
Is Bitcoin’s Growth Over: What Does Expert Think
A cryptocurrency analyst, identified as Ecoinometrics, has rejected the interpretation of the lost growth potential of Bitcoin. He has compared the growth process of Bitcoin with that of NVIDIA to highlight Bitcoin’s potential future trajectory. NVIDIA, a tech company known for its impressive growth, has maintained a strong upward trend long after its Initial Public Offering, driven by its relevance in Artificial Intelligence. This comparison is relevant for understanding Bitcoin’s growth potential and can influence Bitcoin price predictions moving forward.
Relevance of Bitcoin In the Future: What Experts Think
The said analyst has highlighted the factor of relevance, in order to justify his argument about the growth of Bitcoin. Projecting the economic scenario of struggling central banks and large amounts of government debt, he has emphasised the growing relevance of Bitcoin as a hedge against government debt.
Meanwhile, he has accepted the argument of the inability of BTC to generate massive growth. In the past, Bitcoin used to give massive returns like 500% or 1000% per year. Like many, it seems this crypto analyst is also skeptical of BTC’s potential for such a kind of growth.
Bitcoin Historical Return & Price Change Analysis
In the last five years, that is since 2020, the return of +169.7% in the fourth quarter of 2020 is the highest quarterly return. The return of +103.2% in the first quarter of 2021 is the second highest. The return of +72.3% in the first quarter of 2023 is the third highest.
The first quarter of this year showed a return of +68.7%. In the second and third quarter, it displayed -12% and -6.12% respectively.
The change of +304.1% in 2020 is the highest price change recorded in the last five years. The second highest is the annual change of +155.4% in 2023. The worst is the change of -64.3% in 2022.
The highest price change ever reported is the change of +5,435% of the year 2013. The second highest is the change of +1,435% of the year 2011.
In 2017, a massive price change of +1,369 was reported. Since then, no price change of such a massive nature has been recorded.
In conclusion, it is sensible to interpret that Bitcoin is less likely to witness a massive jump in anytime soon. At the same time, it is insensible to assume that this crypto no longer holds any growth potential. Bitcoin is still a sensible investment choice. As long as its relevance faces no threat, it remains the same.
Also Check Out: Gary Gensler to Address DeFi and SEC Oversight in September’s Congressional Hearings
Source: https://coinpedia.org/news/bitcoin-investment-in-2024-still-a-smart-move-experts-speak-out/