According to Kris Marszalek, CEO of Crypto.com, Bitcoin (BTC) is currently in a bullish phase similar to December 2020.
Comparing to 2021 Rally
Marszalek analyzed data from retail investors and concluded that the current market conditions resemble those of December 2020, when BTC began a surge from $20,000 to over $60,000.
Recent Pullback
Despite Bitcoin’s recent dip below $67,000, Marszalek believes the fluctuations are relatively minor compared to previous cycles. He attributes the correction to activity in the options market.
Long-Term Optimism
Marszalek remains bullish on Bitcoin’s long-term prospects, predicting a gradual increase in price due to growing market size and liquidity. He encourages investors to hold BTC for the long haul, not for short-term gains.
Current Market Value
At the time of writing, Bitcoin is trading at $66,163, down over 4% in the past 24 hours.
