Bitcoin: Arrival On Major Exchanges Forges Ties With Traditional Markets<\/strong><\/h2>\nThe traditional markets hold a staggering $100 trillion, Woo stated on X (formerly Twitter), and with Bitcoin now listed on some of the world’s biggest exchanges, we’re witnessing a bridge being built between these two financial giants.<\/p>\n
\nJul 2010, BTC was 0.7 cents, it popped 10x in 5 days, then another 1000x 2 years following.<\/p>\n
Why?<\/p>\n
BTC was introduced to global liquidity with the advent of MtGox.#Bitcoin<\/a> just got listed on the worlds stock markets which holds ~$100T of capital, and they are piling in. pic.twitter.com\/m7yxyUudK7<\/a><\/p>\n\u2014 Willy Woo (@woonomic) March 7, 2024<\/a><\/p><\/blockquote>\nRelated Reading: Ethereum Aims For $10,000, Driven By 2 Key Factors, According To Experts<\/a><\/div>\nAt the time of writing, Bitcoin was trading at $67,182,<\/a> up 0.5% and 8.4% in the daily and weekly charts, data from Coingecko shows.<\/p>\n![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/a_6d50d0.png?resize=633%2C384\")
<\/p>\n
Bitcoin price action in the weekly timeframe. Source: Coingecko<\/a><\/pre>\nHe draws parallels between the current scenario and the pivotal moment in 2010 when Bitcoin found its footing on the Mt. Gox exchange platform.<\/p>\n
This initial exposure to global liquidity propelled the fledgling digital asset to a tenfold increase within five days, followed by a staggering 1,000x growth over the next two years.<\/p>\n
Echoes Of The Past: Will History Repeat Itself?<\/strong><\/h2>\nWoo argues that the current situation presents a similar opportunity, albeit on a much grander scale. He highlights the recent all-time high of $69,000 for Bitcoin, followed by a period of stability that suggests resilience in the face of market corrections.<\/p>\n
This, coupled with the positive sentiment in the crypto community, paints a picture ripe for a potential boom.<\/p>\n
![](\"https:\/\/www.tradingview.com\/x\/zTfbdCuF\/\")
<\/p>\n
BTC market cap currently at $1.3 trillion. Chart: TradingView.com<\/a><\/pre>\nHowever, while the prospect of replicating Bitcoin’s astronomical rise in 2010 is undeniably alluring, it’s crucial to remember that past performance is not a guarantee of future results.<\/p>\n
Technical analysis charts, currently indicating an overbought market, could be overwhelmed by the sheer volume of capital inflow predicted by Woo.<\/p>\n
Yet, this scenario is not without its skeptics. Some analysts caution against overenthusiasm, pointing out that the technical indicators might still play a role in determining the price trajectory.<\/p>\n
Jul 2010, BTC was 0.7 cents, it popped 10x in 5 days, then another 1000x 2 years following.<\/p>\n
Why?<\/p>\n
BTC was introduced to global liquidity with the advent of MtGox.#Bitcoin<\/a> just got listed on the worlds stock markets which holds ~$100T of capital, and they are piling in. pic.twitter.com\/m7yxyUudK7<\/a><\/p>\n \u2014 Willy Woo (@woonomic) March 7, 2024<\/a><\/p><\/blockquote>\n At the time of writing, Bitcoin was trading at $67,182,<\/a> up 0.5% and 8.4% in the daily and weekly charts, data from Coingecko shows.<\/p>\n He draws parallels between the current scenario and the pivotal moment in 2010 when Bitcoin found its footing on the Mt. Gox exchange platform.<\/p>\n This initial exposure to global liquidity propelled the fledgling digital asset to a tenfold increase within five days, followed by a staggering 1,000x growth over the next two years.<\/p>\n Woo argues that the current situation presents a similar opportunity, albeit on a much grander scale. He highlights the recent all-time high of $69,000 for Bitcoin, followed by a period of stability that suggests resilience in the face of market corrections.<\/p>\n This, coupled with the positive sentiment in the crypto community, paints a picture ripe for a potential boom.<\/p>\n However, while the prospect of replicating Bitcoin’s astronomical rise in 2010 is undeniably alluring, it’s crucial to remember that past performance is not a guarantee of future results.<\/p>\n Technical analysis charts, currently indicating an overbought market, could be overwhelmed by the sheer volume of capital inflow predicted by Woo.<\/p>\n Yet, this scenario is not without its skeptics. Some analysts caution against overenthusiasm, pointing out that the technical indicators might still play a role in determining the price trajectory.<\/p>\n<\/p>\nBitcoin price action in the weekly timeframe. Source: Coingecko<\/a><\/pre>\n
Echoes Of The Past: Will History Repeat Itself?<\/strong><\/h2>\n
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BTC market cap currently at $1.3 trillion. Chart: TradingView.com<\/a><\/pre>\n