History of Bitcoin’s Five Bull Runs

According to historical data of Bitcoin, in each bull run cycle, the surge that exceeds Bitcoin, even reaching 100 times, all started from public chains. Because public chains are based on the technical upgrades of Bitcoin to meet the needs of blockchain applications. Without public chains, applications cannot be perfected. Therefore, the surge in public chains marks the beginning of a bull market.

Except for the first and second waves of the surge, which belong to the early days of blockchain with very few adopters, subsequent surges started with the rise of public chains, followed by related applications, and finally ending with meme tokens as the bull market concludes.

In the third wave of Bitcoin’s surge, Ethereum showed a very strong surge. Ethereum introduced smart contracts based on Bitcoin, and the technology of smart contracts enabled the application of DeFi. Ethereum achieved an astonishing 1000x surge in this cycle.

In the fourth wave of Bitcoin’s surge, ADA and Link showed strong surges. These two tokens were the first to adopt Proof of Stake (POS) validation, significantly increasing the transmission efficiency of the blockchain. These two tokens also drove the subsequent upgrades of Ethereum.

This current surge is Bitcoin’s fifth round, and data shows that with each successive round, the multiple of price increase compared to the previous one tends to decrease. In the 1st wave, Bitcoin went from zero to having a price. In the 2nd wave, Bitcoin surged 318 times. In the 3rd wave, Bitcoin surged 61 times. In the 4th wave, Bitcoin surged 19 times. In the 5th wave, Bitcoin is expected to reach its historical peak. Therefore, studying the public chains of this 5th wave and positioning oneself at the beginning of the bull market is the purpose of this report.

Any content below does not constitute investment advice. Purchasing cryptocurrencies involves high risks, and users are advised to do their own research (DYOR).

Kaspa $KAS

The blockchain faces the impossible triangle: decentralization, scalability, and security. Bitcoin’s scalability is very poor, so projects that attempt to increase Bitcoin’s scalability have centralization issues. Security is something no blockchain can afford to lose.

Ethereum 2.0 upgraded scalability, but due to the limited number of POS nodes, Ethereum’s centralization increased.

Kaspa’s technology balances the impossible triangle of blockchain. Therefore, Kaspa’s technology incorporates both proof of work and consensus algorithms. Kaspa does not use the traditional POS consensus algorithm but adopts a new DAG consensus algorithm. Therefore, KAS belongs to the third generation of blockchain technology and has great potential.

KAS was issued during the bear market and initially did not receive much investment. As Bitcoin mining became increasingly difficult, individuals could no longer participate in the mining industry. Those idle computers seized the opportunity to join the KAS mining camp. Subsequently, KAS tokens gained more and more attention. In the early stages of the current bull market, KAS tokens have already surged 100 times. With a market capitalization exceeding 1.8 billion USD, there is a 20% probability of further 100x growth.

Click “KAS Price” to view detailed fundamental and price estimation of the token.

ARC-20 $ATOM

ARC-20 is not a public chain. The primary role of BNT is to generate stablecoins for Web 3. The stablecoins on the market are pegged to fiat currencies by purchasing a large amount of fiat assets to establish an anchoring relationship. Fiat currencies are centralized, and blockchains are decentralized, making it difficult to anchor cryptocurrencies as stablecoins for Web 3.

With the Bancor protocol, it is possible to anchor specific tokens, thus generating new tokens based on the proportional relationship with the anchored tokens. Unlike stablecoins pegged to fiat currencies, the reserved tokens are in smart contracts with transparent, immutable, and publicly available data. Therefore, there is no risk of losing the anchor. Bancor also has a significant use case in real life, such as shopping points that users want to convert into USDT/USDC. Therefore, Bancor is used.

BNT reserves are in Ethereum with a CPR of 20%. So, BNT has a high possibility of becoming a token with a 100x potential.

Click “BNT Price” for more information on BNT price estimation.

Cosmos Hub $ATOM

ATOM (Cosmos Hub) is one of the first public chains to adopt POS verification. When the price of Bitcoin fell to the bottom, the price of ATOM tokens also fell to the bottom.

The greatest value of ATOM is its ability to solve the problem of transferring assets across different chains while maintaining high scalability. Until the upgrade of Ethereum 2.0, the use of layer 2 was required to solve the scalability problem.

ATOM has a very high market value. Although the price has recently risen due to the bull market, the estimated increase is at most 10x.

Click “ATOM Price” to view detailed fundamental and price estimation of the token.

Trading Strategy (November 2023)

The price of Bitcoin is very high and will oscillate within the range of 35K – 38K, with an oscillation amplitude of 8%. Altcoins will experience an oscillation of 20-30%. Additionally, there’s a 90% probability that the Bitcoin ETF will be approved on the 17th, this Friday, causing the price of Bitcoin to rise to 40K. In the case of a lack of market liquidity, if the SEC delays the listing of the Bitcoin ETF, the price will be affected, with an estimated 80% chance of falling to 35K and a 65% chance of dropping to 32K.

Altcoin prices may experience a drop of over 50%. However, there’s also a high probability that the drop might only be around 20%-30%.

In such a market, two strategies can be adopted:

1. Low-risk traders: Wait for Bitcoin retracement to enter. Issue: There’s a possibility of missing the entry point.
2. High-risk traders: Enter now, buy when altcoins retrace by 50%, purchasing the same amount of tokens as before, lowering their entry price by 25%. This is because fundamentally strong altcoins won’t reach zero. Issue: Requires enduring significant psychological pressure, such as BNT suddenly dropping by 60% on the 13th.

Summary

Bitcoin’s 5th wave of increase has a very high possibility of being Bitcoin’s final surge. In Bitcoin price analysis, it is estimated that the highest possible price of Bitcoin in this surge is $500,000, but the subsequent decline will also be severe. It may drop to $320,000. The reason for the increase exceeding the theoretical 7x is the approval of the Bitcoin ETF, the historic high of M2 money supply, and people’s greed for the cryptocurrency market. No one can accurately predict where the highest price of Bitcoin will be in this surge. There are many predictions, with the highest expected at $150,000. The key point is that the increase in altcoins is always greater than the increase in Bitcoin. If Bitcoin increases by 10x, altcoins will have at least a 20x increase. Finding potential value altcoins is BingX QA’s most important task, helping users earn money through BingX trading and reducing the risks of trading to a certain extent, which is the most important mission of BingX price analysis work.

Trading altcoins involves high risks and may result in the loss of the entire capital. The above content does not constitute any investment advice. Users are advised to do their own research (DYOR).