The CEO of technological solutions provider Bitwise, Hunter Horsley, thinks bear markets are an excellent time for investors to increase their bitcoin investment. He predicted that the subsequent bull run would start in the following year and noted that the clients of his firm have already raised their ownership stake in the asset and also now agrees with those who believe that the current crypto winter is the ideal opportunity to buy bitcoin.
In a Bear Market, One Can Make Fortunes
Horsley described the historical trend of bitcoin’s price volatility in an interview with Bloomberg. The main cryptocurrency has had recurring four-year cycles throughout its existence, with bull runs that gain momentum always following bear markets. He predicted that the assets will start a new price campaign in 2023 based on such data:
“As a result, the market fell by approximately 60% in 2014. Market decline of around 70% in 2018. Naturally, the market has declined almost 60% this year (2022). If the market maintains its historical trend, it is anticipated that a new cycle would start next year”
The CEO claimed that despite the recent market collapse, a growing number of Bitwise clients had rekindled their desire in the cryptocurrency sector. He believes that people who join the trend now, while prices are far lower than they were a year ago, will have a higher chance of making substantial returns later on:
“A bear market is thus unquestionably the tale of this year. But our client has shown more interest lately. And I believe that this historical pattern of four-year cycles serves as a backdrop for many cryptocurrency investors. While there are alternatives to profit in several crypto market situations, bear markets are when profits are made.”
Many financial professionals have adopted the idea of investing amid a crisis. The story is based on the fact that when there is fear in the market, prices drop, but when things calm down, they surpass earlier levels. When the COVID-19 outbreak was at its worst, for instance, bitcoin fell below $5,000. But a year later, it made up for its losses, rising to a record-breaking high of about $70K.
Author of “Rich Dad Poor Dad” and Saylor renders advice to Bitcoin investors
In a severe financial crisis, according to Robert Kiyosaki (author of “Rich Dad, Poor Dad”), people should invest some of their fortune in bitcoin. Recently, he asserted that among other reasons, shareholders should raise their BTC exposure due to the escalating inflation, the weakening US dollar, and the impending recession.
Michael Saylor, the executive chairman of MicroStrategy, is naturally a member of that group as well. When bitcoin fell to $20K in June of this year, he called it a “fantastic purchasing opportunity.”
In addition, he counselled citizens of economically troubled nations (including Turks) to use BTC to protect their wealth amid the unrest.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.