{"id":488570,"date":"2022-04-21T23:00:15","date_gmt":"2022-04-21T23:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=488570"},"modified":"2024-06-11T14:19:20","modified_gmt":"2024-06-11T14:19:20","slug":"why-a-boring-bitcoin-could-be-a-good-thing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-a-boring-bitcoin-could-be-a-good-thing\/","title":{"rendered":"Why A \u201cBoring\u201d Bitcoin Could Be A Good Thing"},"content":{"rendered":"

The current bitcoin trend can be described as \u201cboring\u201d by a lot of folks in the market. However, it is good to look at what this would mean in a space like the crypto industry that is used to fast-moving prices and quick-changing momentum. While the word \u201cboring\u201d may sound bad to investors who are used to these characteristics, Director of Global Macro at Fidelity, Jurrien Timmer, explains why this could inherently be a good thing for the digital asset.<\/p>\n

Draw In Institutional Investors<\/h2>\n

The need for institutional investors in bitcoin cannot be overstated. For the digital asset to get to some of the forecasted values, institutional investors moving into the market has become a necessity. But will these institutional investors want to move into a highly unpredictable asset such as bitcoin?<\/p>\n

Related Reading |\u00a0Halfway To The Halving: What This Means For Bitcoin<\/a><\/strong><\/em><\/p>\n

In his recent Twitter thread<\/a>, Timmer explained that a \u201cboring\u201d bitcoin is important if institutional adoption is to be expected. Pointing to the S2F model created by the infamous Plan B, he explains that bitcoin has closely followed this model. However, there is a deviation that is starting to take place.<\/p>\n

The Director explained that instead of continuing to track the S2F model, BTC had instead started to follow the pink line which marked demand in the chart shared. This meant that as effective as Plan B\u2019s model has been in the past, it seems bitcoin is cutting out a new trend for itself and that is now entirely driven by the demand.\u00a0<\/span><\/p>\n

\u201cSo, in a more efficient two-way market, Bitcoin should deviate around that pink line, up and to the right,\u201d Timmer explained.<\/p>\n

\"Bitcoin<\/p>\n

BTC sticking close to pink demand line | Source: Twitter<\/a><\/pre>\n
Bitcoin Behaving Like A Traditional Asset<\/h2>\n
Now, one of the great gospels of bitcoin is how different the digital asset is from traditional risk assets. Nevertheless, as more time has passed and adoption is growing, it is beginning to behave more like a traditional risk asset. As more understanding comes, the investors who are purchasing the asset move from simply a price standpoint and move towards more efficient accumulation.<\/p>\n
Timmer notes in his Twitter thread that institutional investors have likely come up with their own models which will help them know when a good time to buy bitcoin is. This could help them map out if they can get a 1.5x or 3x return from buying at a particular price.<\/p>\n
\"Bitcoin<\/p>\n
BTC trading in the mid-$42,000s | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
\u201cFor instance, If the demand model says that Bitcoin\u2019s intrinsic value is $50k today and $100k two years from now (my thesis), then at $30k Bitcoin is going to look a lot better than at $70k,\u201d he noted. Adding that \u201cPrice is what you pay but value is what you get.\u201d<\/p>\n
Related Reading |\u00a0How Bitcoin Futures Premiums Exhibit Signs Of Market Exhaustion<\/a><\/em><\/strong><\/p>\n
Timmer closes out his thread explaining that getting the demand curve right would be very important \u201c<\/b>If indeed price starts to move more closely around an upwardly sloping demand curve.\u201d<\/p>\n
Featured image from MarketWatch, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The current bitcoin trend can be described as \u201cboring\u201d by a lot of folks in the market. However, it is good to look at what this would mean in a space like the crypto industry that is used to fast-moving prices and quick-changing momentum. While the word \u201cboring\u201d may sound bad to investors who are used to these characteristics, Director of Global Macro at Fidelity, Jurrien Timmer, explains why this could inherently be a good thing for the digital asset. Draw In Institutional Investors The need for institutional investors in bitcoin cannot be overstated. For the digital asset to get to some of the forecasted values, institutional investors moving into the market has become a necessity. But will these institutional investors want to move into a highly unpredictable asset such as bitcoin? Related Reading |\u00a0Halfway To The Halving: What This Means For Bitcoin In his recent Twitter thread, Timmer explained that a \u201cboring\u201d bitcoin is important if institutional adoption is to be expected. Pointing to the S2F model created by the infamous Plan B, he explains that bitcoin has closely followed this model. However, there is a deviation that is starting to take place. The Director explained that instead of continuing to track the S2F model, BTC had instead started to follow the pink line which marked demand in the chart shared. This meant that as effective as Plan B\u2019s model has been in the past, it seems bitcoin is cutting out a new trend for itself and that is now entirely driven by the demand.\u00a0 \u201cSo, in a more efficient two-way market, Bitcoin should deviate around that pink line, up and to the right,\u201d Timmer explained. BTC sticking close to pink demand line | Source: Twitter Bitcoin Behaving Like A Traditional Asset Now, one of the great gospels of bitcoin is how different the digital asset is from traditional risk assets. Nevertheless, as more time has passed and adoption is growing, it is beginning to behave more like a traditional risk asset. As more understanding comes, the investors who are purchasing the asset move from simply a price standpoint and move towards more efficient accumulation. Timmer notes in his Twitter thread that institutional investors have likely come up with their own models which will help them know when a good time to buy bitcoin is. This could help them map out if they can get a 1.5x or 3x return from buying at a particular price. BTC trading in the mid-$42,000s | Source: BTCUSD on TradingView.com \u201cFor instance, If the demand model says that Bitcoin\u2019s intrinsic value is $50k today and $100k two years from now (my thesis), then at $30k Bitcoin is going to look a lot better than at $70k,\u201d he noted. Adding that \u201cPrice is what you pay but value is what you get.\u201d Related Reading |\u00a0How Bitcoin Futures Premiums Exhibit Signs Of Market Exhaustion Timmer closes out his thread explaining that getting the demand curve right would be very important \u201cIf indeed price starts to move more closely around an upwardly sloping demand curve.\u201d Featured image from MarketWatch, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":488583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,83996,1119,1144,14040],"class_list":["post-488570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-s2f","tag-btc","tag-btcusd","tag-institutional-investors"],"acf":[],"yoast_head":"\nWhy A \u201cBoring\u201d Bitcoin Could Be A Good Thing<\/title>\n<meta name=\"description\" content=\"The current bitcoin trend can be described as \u201cboring\u201d by a lot of folks in the market. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why A \u201cBoring\u201d Bitcoin Could Be A Good Thing","url":"http:\/\/wncen.com\/news\/why-a-boring-bitcoin-could-be-a-good-thing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/why-a-boring-bitcoin-could-be-a-good-thing\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/bitcoin-4.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/bitcoin-4.jpeg?fit=700%2C466"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","bitcoin s2f","btc","btcusd","institutional investors"],"dateCreated":"2022-04-21T23:00:15Z","datePublished":"2022-04-21T23:00:15Z","dateModified":"2024-06-11T14:19:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why A \\u201cBoring\\u201d Bitcoin Could Be A Good Thing\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-a-boring-bitcoin-could-be-a-good-thing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-a-boring-bitcoin-could-be-a-good-thing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/bitcoin-4.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/bitcoin-4.jpeg?fit=700%2C466\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"bitcoin s2f\",\"btc\",\"btcusd\",\"institutional investors\"],\"dateCreated\":\"2022-04-21T23:00:15Z\",\"datePublished\":\"2022-04-21T23:00:15Z\",\"dateModified\":\"2024-06-11T14:19:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/bitcoin-4.jpeg?fit=700%2C466","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=488570"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/488583"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=488570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=488570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=488570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}