Bitcoin (BTC) has been performing well in recent days, with analysts painting an optimistic outlook for the future.
At this point, Michael Saylor, founder of Bitcoin’s largest publicly traded company, Strategy, for the first time sounded optimistic about Bitcoin, writing that the Bitcoin winter was over. However, some analysts believe that Saylor’s comments may be premature.
“Bitcoin winter is over,” Saylor
In an interview with CoinDesk, AdLunam co-founder Jason Fernandez disputed Saylor’s view, saying that even if Bitcoin winter is over, altcoins are still in a deep downturn. However, Fernandez said he does not believe the crypto winter is over.
“Even if Bitcoin winter is over, which I disagree with, altcoins are still in deep freeze.”
Matty Greenspan, founder of Quantum Economics and former senior market analyst at eToro, believes the crypto winter has been unprecedented.
Matty Greenspan argues that the movements in Bitcoin and the crypto market since the October 10 crash, when around $19 billion in liquidated funds disappeared within 24 hours, cannot even be called a crypto winter.
At this point, Greenspan said that the correction since October was a temporary decline in a secular bull market, and that Bitcoin has likely already formed a bottom.
He said the next surge will depend on the adoption of Bitcoin by institutions and nation-states.
“Increased adoption by businesses will begin the next phase, but Saylor is missing the phase of adoption by sovereign nations, which is definitely coming soon.”
*This is not investment advice.
