Bitcoin’s Skyrocketing Bullish Run May Just Be A Pipe Dream, Data Suggests

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.

Bitcoin has made a big comeback this year and is looking stronger than ever, but will this translate to an ultimate bull run everyone is hoping for? Bitcoin enthusiasts sure are hyping this event up to bring it to a full-blown FOMO, but some investors are still hesitant to put all of their chips in one slot. Will Bitcoin be a massive hit or a shocking failure?

Bitcoin’s Impressive Growth Giving The Bull Indication

Bitcoin has clawed its way out of the bear’s teeth this year and has made a solid comeback in the market. In doing so, the fluctuations and spikes and dips it took to get here have been somewhat similar to 2017 and now people cannot hold their excitement. Data analysts, Experts, Researchers and all people alike are saying that bitcoin will reach a new height this year. It has more than doubled its price this year and has just taken a slight dip right now.

This has been a comeback year of Bitcoin and people have been speculating about Bitcoin again becoming mainstream due to this. But, still, there is uncertainty regarding this.

Data Suggests Success, But Also Failure

Bitcoin charts have been somewhat of a mixed bag right now. At the time of writing this, bitcoin had a 112% growth year to date, a 35% rise in a month but a 5.5% drop in the last week. This drop can be the inconvenient obstacle stopping the growth of Bitcoin. The GTI Indicator used by Bloomberg to write a report of the growth of Bitcoin in the future, suggests both positive and negative growth ahead.

While it had a good run in May, the price stability hasn’t been there and it has actually gone down a bit. The market volatility has been picked by the GTI Indicator and it doesn’t mean good for Bitcoin. While it is a gamble to put all your money in right now, it is best suggested to wait for a little. The FOMO people will bloat it automatically and then will be the best time to invest, hopefully.

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