Bitcoin (BTC) has remained strong in recent days, and analysts are painting an optimistic picture for the future.
At this point, Michael Saylor, founder of Strategy, the largest publicly traded Bitcoin company, was the first to adopt an optimistic tone regarding Bitcoin, writing that the Bitcoin winter was over. However, some analysts said that Saylor’s statements might be premature.
Saylor X, in a post on her social media account, said “The Bitcoin winter is over,” reigniting the debate on the subject.
Speaking to Coindesk, AdLunam co-founder Jason Fernandes countered Saylor’s view, saying that even if the Bitcoin winter is over, altcoins are still in a deep downturn. However, Fernandes stated that he doesn’t believe the crypto winter is over.
“Even if the Bitcoin winter is over – a view I disagree with – altcoins are still in deep cold.”
Mati Greenspan, founder of Quantum Economics and former senior market analyst at eToro, believes that there has never been a crypto winter.
Mati Greenspan argues that the movements in Bitcoin and the crypto market since the massive crash on October 10th (which wiped out approximately $19 billion in liquidations within 24 hours) cannot even be described as a crypto winter.
At this point, Greenspan stated that the correction since October was a temporary dip within a long-term bull market, and that Bitcoin had likely already formed a bottom.
According to him, the next surge will depend on Bitcoin’s adoption by institutions and nation-states.
“Increased corporate adoption will kickstart the next phase, but Saylor is missing the sovereign state adoption phase – which is definitely coming soon.”
*This is not investment advice.