In a conversation with Bloomberg, an analyst at the eToro platform, Mati Greenspan, expressed the opinion that Bitcoin is on the verge of a new wave of parabolic growth.
He noted that price jumps and corrections above 80% of the maximum are an integral characteristic of cryptocurrencies. Also, according to Greenspan, the recent rapid growth in the price of the first cryptocurrency marks the beginning of a new growth phase.
“It's just part of one big cycle. Prior to this, Bitcoin went through several such cycles. However, now we are talking about growth from 10,000% to 50,000% in a short period of time, after which deep corrections occur, which can be 80% or even 90% , ”said the analyst.
As an example of such a correction, Greenspan called the price reduction by 85% after Bitcoin reached a historic high near the $ 20,000 mark in December 2017. Also, according to the expert, the recent sharp correction should not surprise anyone.
In addition, Greenspan stressed that in recent times a lot of positive news has been published, contributing to the massive adoption of the blockchain and cryptocurrencies. In particular, an important initiative, in his opinion, is the development of Microsoft's system of decentralized identification on the bitcoin blockchain. He also mentioned the HTC smartphone with the support of the full node and large American retailers who started accepting cryptocurrency for payment thanks to the partnership of Gemini and Flexa.
Recall that in April, eToro launched an adjustable bitcoin exchange with support for various stebblocoins.
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