Popular macroeconomics expert Lyn Alden believes Bitcoin (BTC) will remain bullish over the coming months.
In a new interview with Natalie Brunell, Alden says that Bitcoin is likely to trend higher for another year or so.
[adinserter block="1"]However, the analyst warns that a Black Swan event, a rare and unanticipated event that catalyzes a massive market meltdown, may cause the flagship crypto asset to plummet.
“I think that a lot of the fundamentals look pretty good at the current time. So I expect pretty good performance over the next year or two, but it is subject to not having like a 30% market crash or things like that that could temporarily push us lower that we’d have to then rebuild from.”
Alden also believes that Bitcoin’s performance is now more about market liquidity than the halving events. Bitcoin’s halving cycle occurs every four years when its mining rewards are slashed in half. Bitcoin has historically rallied to fresh all-time highs after a halving event.
“Short answer is, I think longer term, yeah [Bitcoin’s bull run is still happening]. I think that Bitcoiners get very attached to cycles. And I think especially as the asset gets larger, those cycles become less clear…
I think it’s less about the halving cycle. It’s more about the liquidity cycle. But liquidity is complex in this environment.”
Bitcoin is trading for $85,002 at time of writing, flat on the day.
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