In the ongoing discussion of the market behavior of Bitcoin, an exclusive perspective is getting significant traction. Prominent crypto influencers such as PlanB and drMurlly have debated over the sheer price surges of Bitcoin in the years 2013, 2017, and 2020/21 while debunking the theories labeling those spikes as speculative bubbles.
Crypto Influencers Challenge the Concept of Bitcoin Bubbles
PlanB suggests that the respective periods did not occur as anomalies. On the other hand, they reportedly played the role of key moments in the adoption cycle of Bitcoin. PlanB is famous for his Stock-to-Flow model which has been widely followed. He argues that those considering the respective periods as just bubbles misinterpret the structural nature of the growth of Bitcoin. The respective peaks may seem statistical outliers while looking at the graph. Nevertheless, they denote the chief periods of adoption and development of the Bitcoin market. Hence, they are essential for the long-term success of the top crypto token.
2013, 2017, 2020/21 Denote Key Periods for Bitcoin’s Adoption and Growth, Say the Influencers
PlanB added that an attractive thing is to fit an unbroken curved or straight line through the data. Nonetheless, that disguises in the step-wise adoption track of Bitcoin. The respective jumps reportedly contribute to understanding Bitcoin’s overall nature.
DrMurlly echoed the same idea, saying that the growth of Bitcoin is not linear. Instead, it takes place in step-wise, resilient jumps. According to DrMurlly, these sudden rises, rather than being random, represent the crucial adoption phases of Bitcoin. Mainstream analysts often dismiss the sharp surges in the former Bitcoin cycles as speculative periods. But, PlanB and DrMurlly assert that such cycles mirror the maturing infrastructure and user base of Bitcoin. Thus, each of these spikes adds innovations and new participants, broadening the ecosystem.
