While bitcoin’s price has been consolidating for quite some time now, every now and then bulls have tried to press the price past the psychological all-time high captured in March. Meanwhile, a few bitcoiners have been saying that the bull market is “just getting started” even though the price has multiplied in value quite a bit. The financial entrepreneur Dave Levine has a bone to pick with these statements, after he insists the bottom was back in December 2018. Levine wholeheartedly believes, as far as the bull run is concerned, “it’s year 3 of the bull; the top of the 7th inning.”
Searching for the Elusive Bitcoin Bottom and Top
It’s only natural for a large group of investors who have been watching an asset rise relentlessly believe that the asset will continue its upward trajectory for a very long time. Of course, many crypto proponents are all about the ‘long game’ and are willing to hold their crypto assets for 5, 10, and even 20 years or longer. There’s also a great number of people who have high expectations about the current bull run and price predictions are upwards of six digits for this year’s high.
For instance, there’s the notorious bitcoin stock-to-flow (S2F) price model creator “Plan B” (@100trillionusd) who is extremely confident in his model. Then at the end of March, Plan B said that he believes “we are only ~4 months into the bull market and nowhere near the end of it” and he also added that “bitcoin is just getting started.” A number of people responding to Plan B’s tweet believed him and agreed with his assessment. However, not everyone agreed with his sentiment and opinion that the bull market is only 4 months old.
The financial entrepreneur Dave Levine responded to Plan B’s March 26 tweet and disagreed entirely with his statement. “The bottom was…