Analysis: Parabolic Bull Markets and Devastating Bear Markets Will Disappear, Bitcoin Will Continue to Consolidate and Trend Upward in the Future

BlockBeats News, July 27 — Blockware BTC analyst Mitchell Askew stated that Bitcoin will no longer experience “parabolic” price surges or “devastating” bear markets, as the existence of spot ETFs has permanently reduced volatility and changed market dynamics. Bitcoin before and after the launch of ETFs appears to be two entirely different assets, and over the next decade, it will reach $1 million through a prolonged cycle of “rallies” and “consolidations.” This journey will bore everyone and squeeze short-term speculators out of the market. The chart shared by Mitchell Askew shows that since the launch of the US Bitcoin ETF in January 2024, Bitcoin’s price volatility has significantly decreased.

Bloomberg Senior ETF Analyst Eric Balchunas previously noted that reduced volatility helps Bitcoin attract larger investors and gives it a chance to be adopted as a currency, but the trade-off may be the end of “legendary candlestick charts.” Spot ETFs further intertwine traditional finance, institutional investors, and the crypto asset market.