In the ongoing dialogue surrounding Bitcoin’s market dynamics, a unique perspective is gaining considerable attention. Influential figures in the cryptocurrency space, such as PlanB and drMurlly, have engaged in discussions about the dramatic price increases of Bitcoin observed in 2013, 2017, and 2020/21, challenging the notion that these surges were merely speculative bubbles.
**IMPORTANT**
Some individuals perceive the years 2013, 2017, and 2020/21 as bubble periods… this viewpoint is misguided.
Indeed, when analyzed purely from a data or statistical standpoint, these years may appear as outliers; however, they represent structural and fundamental phases that account for all Bitcoin’s growth!
#FractalDistribution
#S2F
pic.twitter.com/yfADct2Xok
— PlanB (@100trillionUSD)
September 22, 2024
**Crypto Influencers Contest the Bubble Theory of Bitcoin**
PlanB posits that these periods shouldn’t be viewed as anomalies. Instead, they serve as pivotal moments in Bitcoin’s adoption journey. Renowned for his Stock-to-Flow model, PlanB contends that labeling these timeframes as mere bubbles misrepresents the fundamental nature of Bitcoin’s expansion. While the peaks may appear as statistical anomalies on a graph, they signify crucial phases of adoption and market evolution for Bitcoin, contributing to its long-term viability as a leading cryptocurrency.
**2013, 2017, and 2020/21 Mark Significant Milestones in Bitcoin’s Growth, According to Influencers**
PlanB further explained that while it’s tempting to draw a continuous line through the data, doing so obscures the stepwise nature of Bitcoin’s adoption. The notable jumps within this data, he argues, are essential to comprehending the overall essence of Bitcoin’s trajectory.
DrMurlly echoed these sentiments, asserting that Bitcoin’s growth is not a linear process but unfolds in significant, resilient leaps. He believes these abrupt rises are not random occurrences but rather represent critical phases of Bitcoin’s adoption. While mainstream analysts often view these sharp price spikes in previous Bitcoin cycles as speculative fluctuations, PlanB and DrMurlly maintain that they reflect the maturation of Bitcoin’s infrastructure and its expanding user base. Each spike serves to introduce innovations and new participants, enriching the ecosystem as a whole.
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