The potential short-term and long-term growth prospects of bitcoin can be gauged from the ongoing price activity. BTC price is facing increasing resistance on its way up. Volatility is decreasing with time. What does this mean for bitcoin’s overall outlook?
In his latest article, entrepreneur, engineer, and bitcoin optimist Harold Christopher Burger deeply analyzed the supposed reason behind BTC’s stunted market growth. As per his inference, two things become clear regarding bitcoin’s recent price evolution:
The case for bitcoin’s diminishing yearly returns is growing stronger
Bitcoin price fluctuations are becoming less extreme in the short term
A plausible explanation for the observations is investment capital. It takes more and more fiat currency to move BTC’s price higher. Apparently, it is becoming increasingly difficult to find the requisite capital to do so.
In HC Burger’s words:
Moving the price of bitcoin from $0.1 to $1 was possible with relatively few dollars. Moving the price of bitcoin from $1000 to $10000 required…