Looking at the cryptocurrency market right now, many investors are not happy with what is going on. The question now is, when is the Bitcoin bubble?
Investors are now aware that too much hope in projects that have no real product, use case or service is everywhere in the crypto industry.
There have been a lot of Bitcoin forks including Bitcoin Cash, Bitcoin SV etc, all offering no real use case. Its obvious that in the near future many project or blockchain startups offering no real service with token will go into extinction.
This is evident in the recent data analysis on Bitcoin addresses with no transaction since 2018. This is one of the top bitcoin data analysis from Rhythm. Too many investors have preferably chosen to keep their bitcoins in its wallet for over a year now. Many have chosen not to invest more.
The question now is why are they keeping the Bitcoin rather than selling the Bitcoin? Well its a reality that many investors are looking to see profits with their investments. The bear market has taken longer time than expected notwithstanding the predictions made by experts.
It looks like these investors are waiting for the next Bitcoin bubble, but its not happening. So when is the Bitcoin bubble happening? The next Bitcoin halving is coming up in 2020, so probably they are waiting to sell by this time with the hope that Bitcoin price will rise.
Though from previous Bitcoin halvings, the price does increase unlike the halving of 2016. The price was down till towards the end of the year when it picked back with gains.
Investors now wish to look for profit from their altcoin investments in a short period of time rather than waiting longer. The reason is that, looking back, there are too many hyped projects that didn’t deliver in the past. Projects like PTOY, HMQ and others.
The early days of cryptocurrency and bitcoin in general might be drawing to a close. There will be at least one but likely two more major bitcoin bubbles that will see altcoins rise to great heights before experiencing their inevitable price decline.