Nuclear Physicist Declares Bitcoin Bull Run Far From Over

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Last Updated on 7 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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In the excellent finance movie Margin Call (which gives an overview of the 2007-2008 financial crisis start), there is a scene in which the analyst who discovers the Lehman Brothers losses needs to explain his background.

The young man, played by Zachary Quinto, declares that he is a rocket scientist who has switched to investing as:

It’s all just numbers really, just changing what you’re adding up, and to speak freely, the money here is considerable more attractive.

YouTube video

In this manner, you could also define Dr Chris Kacher, a nuclear physicist with a PhD who bought his first Bitcoin at just over $10 in January 2013. He has since developed a metrics model that, according to him, has called every top and bottom of Bitcoin.

The man authored four books and is well respected by PriceWaterHouseCoopers who hired him for his crypto analysis. He tweets under the moniker Selfish Investing.

According to Dr Kacher, the current bull run is far from over. In an interview for City AM, the journal for London’s traders, he declared this week that:

My metrics suggest we are not even half way through this bull cycle.

To keep things in perspective, the market cap of cryptocurrencies in the last bull run achieved an aggregate value of just under $1 trillion. It currently stands at around $1.5 trillion. This crypto bull market is still in the early stages, if the market value of the whole cryptospace is any guide.

Advertentie.

Media dogpiles FUD

Furthermore, the man is quite bullish in the short term as well, foreseeing further investment by mayor institutions. Dr. Kacher stated:

In addition, record levels of Bitcoin have been moving off exchanges as many are becoming long term ‘HODLers’ of Bitcoin as major institutions, banks, corporations, HNWIs, and even governments are waking up to the massive utility and onboarding of blockchain technologies including Bitcoin and Ethereum. This crypto bull market is far from topping out.

Retail and institutional FOMO combined with a serious supply shortage due to companies such as Grayscale and PayPal buying up Bitcoin should propel crypto valuations beyond $10 trillion. Corporations are using BTC to reduce the impact of falling fiat from seemingly limitless quantitative easing.

Lastly, the physicist turned analyst seems to agree with legendary trader Peter Brandt that the correction phases of Bitcoin, where the most famous crypto loses 25%, are nothing to worry about:

Each time Bitcoin undergoes a correction of typically -25% to -40%, investors often give up as mainstream media dogpiles onto the FUD, marking a significant floor in Bitcoin each time.

They also contributed to the selling in January when Bitcoin had a steep correction. Bitcoin currently has decent technical support between the 40k and 42.5k price levels.