Bitcoin's Bull Run Predictions and Market Trends

Riding the Bitcoin Rollercoaster

Bitcoin, the digital currency that has captured the attention (and wallets) of investors around the globe, is reportedly on a potentially thrilling ride to new all-time highs by Christmas. If you’re a crypto enthusiast, you must be wondering how high it can go this time, or just sweating as you hit refresh on your trading app.

Forecasting Fabulous Gains

Back in August, Preston Pysh, co-founder of The Investor’s Podcast Network, made a bold light-hearted proclamation while Bitcoin was sitting at $11,400. He envisioned that by Christmas, gains of up to 90% could be in the cards for BTC/USD. That prediction now sounds like pure genius as Bitcoin previously soared to highs of $18,400 and shows no signs of stopping.

Challenging Conventional Wisdom

In a podcast episode for Swan Bitcoin, he confidently declared, “You should be making a new all-time high by Christmas 2020.” Now, if you squint, it almost sounds like a Christmas miracle. However, he backed it up with some brutal logic, noting, “That much of a jump could occur between now and then is going to be a dramatic narrative that I think very few are ready for.” Who would be ready for 80%-90% gains within a few months except for die-hard Bitcoin believers?

The Gold vs. Bitcoin Debate

Pysh didn’t just stop at Bitcoin. He took a jab at gold, stating it wouldn’t even come close to matching Bitcoin’s upward trajectory. And according to the current market sentiments, he might be onto something—after all, gold seems to be losing its shine lately. He suggested that the perception of digital gold is something to keep an eye on.

All Hail the Stock-to-Flow Model

As if that wasn’t enough, Pysh was inclined to endorse the stock-to-flow price forecasting model by quantitative analyst PlanB, which operates on a premise that Bitcoin’s scarcity (thanks to its halving cycles) drives its price. According to him, Bitcoin is sticking to the playbook as expected post its third halving in May.

Traditional Financiers Take Note

Meanwhile, Ray Dalio, a name synonymous with traditional investment wisdom, recently had to backpedal on his Bitcoin opinions, admitting on social media that he might not fully grasp the digital currency. Seems like the crypto side is winning a few skeptics over, one Bitcoin tweet at a time.

Final Thoughts

So, whether the crypto-naysayers want to accept it or not, Bitcoin is making moves that have everyone watching with bated breath. As we head toward the holidays, let’s see if we can stock our wallets full of Bitcoin merriment (or chaos). Merry Bitcoin-mas, everyone!