发布: 2024/08/06 02:04 阅读: 531
Is the Crypto Market Cycle a Thing of the Past?
加密货币市场周期已成为过去吗?
Top analyst Jordan Fish, known as Cobie, challenges the long-held belief of a predictable four-year crypto market cycle. He argues that the traditional view may no longer be valid.
顶级分析师 Jordan Fish(又名 Cobie)挑战了人们长期以来对可预测的四年加密货币市场周期的信念。他认为传统观点可能不再有效。
Unwinding the Traditional Cycle
打破传统周期
Cobie ignited a debate on Twitter with his assertion that the current bull run has yet to begin. This sparked skepticism from some, but Cobie elaborated on his stance: "I am serious! Increasingly, I like the argument that this is not even a 'cycle', really, but it's more like 2019 with leverage and ETFs."
科比断言当前的牛市尚未开始,在推特上引发了一场争论。这引发了一些人的怀疑,但科比阐述了自己的立场:“我是认真的!我越来越喜欢这样的论点:这甚至不是一个‘周期’,真的,但它更像是 2019 年的杠杆和 ETF。”
A New Market Landscape
新的市场格局
According to Cobie, the introduction of spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) and the proliferation of leverage have fundamentally altered the market's dynamics. These instruments have changed capital flows, creating a less predictable and more fragmented landscape.
Cobie 表示,现货比特币和以太坊交易所交易基金(ETF)的引入以及杠杆的激增从根本上改变了市场的动态。这些工具改变了资本流动,造成了更难以预测和更加分散的格局。
Dispersion and Divergence
色散与发散
Cobie emphasizes the high degree of dispersion in the current market, where individual assets behave differently rather than moving in unison as in previous cycles. This makes it difficult to identify a single driving force or pattern.
Cobie 强调当前市场的高度分散性,各个资产的表现各不相同,而不是像之前的周期那样一致变化。这使得识别单一驱动力或模式变得困难。
Echo Bubble Phenomenon
回声气泡现象
Cobie references the concept of the "echo bubble," where a smaller bubble follows the burst of a larger one. He expresses surprise at the behavior of renowned trader GCR, who predicted an echo bubble but later became bullish and acquired NFTs.
科比引用了“回声气泡”的概念,即较大气泡破裂后会出现较小的气泡。他对著名交易员 GCR 的行为表示惊讶,GCR 预测会出现回声泡沫,但后来变得看涨并收购了 NFT。
Market Outlook
市场展望
Cobie suggests that the market is currently in a "multi-month/quarter cool-off reaccumulation period" for Bitcoin. He expects Bitcoin to trade within a range of $45,000 to $70,000, with a possibility of a brief breakout. However, he is pessimistic about the future of many altcoins, particularly those that have survived multiple cycles.
科比表示,比特币市场目前正处于“数月/季度的冷静再积累期”。他预计比特币交易价格将在 45,000 美元至 70,000 美元之间,并有可能出现短暂突破。然而,他对许多山寨币的未来感到悲观,尤其是那些经历了多个周期的山寨币。
Shifting Risk Appetite
风险偏好的转变
Cobie believes that the recent surge in memecoin investments has signaled a potential top for overall risk appetite. He anticipates that many older altcoins will lose relevance over time.
科比认为,最近模因币投资的激增预示着整体风险偏好可能达到顶峰。他预计许多较旧的山寨币将随着时间的推移而失去相关性。
Conclusion
结论
Cobie's analysis suggests a departure from the traditional crypto market cycle. He predicts continued market volatility and potential downside before a sustained bull run can resume.
科比的分析表明,这背离了传统的加密货币市场周期。他预测,在持续的牛市恢复之前,市场将持续波动,并可能出现下行趋势。