Are We in a Bitcoin Supercycle?

Dan Held Thinks Bitcoin Can Hit $1 Million

Bitcoin goes through market cycles. Between 2020 and 2021, bitcoin was on a bull run. It was undeniable. Even with some market pullbacks, that bull run could have been the start of a bitcoin supercycle.

Similar to bull runs in both 2013 and 2017, bitcoin reacted in ways that some analysts predicted. The recent market cycle, however, was a bit different. Bitcoin had achieved more mainstream adoption and attention than ever before. By 2020, bitcoin was on the world stage.

Is a bitcoin supercycle developing?

The COVID Stress Test

Bitcoin, like the rest of the financial markets, was pushed to the brinks in March 2020. It plunged below $4,000 on some exchanges.

The global pandemic was a stress test unlike any other that bitcoin had experienced. Previous market cycles didn’t have comparable macro influences. COVID took both crypto and traditional markets down with it, forcing the world into a state of panic.

Bitcoin Survived COVID

The COVID stress test included an initial liquidity crisis in March 2020, forcing…