Michael Saylor Says #Bitcoin Bear Market Is Not Coming Back.
Strategy’s executive chairman, Michael Saylor, has issued a crucial warning to those expecting the Bitcoin bear market soon.
Speaking to Bloomberg, Saylor stated that the Bitcoin bear market is unlikely to return, at least in the near term. According to him, the asset is not going to $0 but is headed towards $1 million per coin.
Responding to Matt Miller’s question on when Bitcoin’s historically recurring period of massive downside will kick in again, Saylor insisted that the asset has moved beyond that adolescent market phase.
Crypto winter, as it is widely known, is a period typically characterized by a significant drop in Bitcoin prices. As seen historically, it comes on the heels of the bull market, which has correlated with the automated, four-year halving event.
Historically, the Bitcoin bullish cycle could end this year, followed by a correctional bearish phase. Several analysts, including veteran trader Peter Brandt, have already speculated on an incoming dump. However, Saylor suggests that Bitcoin is moving past that phase, arguing that the asset has grown past its “riskiest period.”
