{"id":161019,"date":"2021-05-30T18:30:03","date_gmt":"2021-05-30T13:00:03","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=161019"},"modified":"2021-05-30T11:19:44","modified_gmt":"2021-05-30T05:49:44","slug":"but-how-do-you-know-bitcoins-run-isnt-over","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/but-how-do-you-know-bitcoins-run-isnt-over\/","title":{"rendered":"&#8216;But how do you know Bitcoin&#8217;s run isn&#8217;t over?&#8217;"},"content":{"rendered":"<p>The month of May has indeed been a period of consolidation and recovery for bitcoin. Obviously, Bitcoin is bleeding at the moment, it witnessed a fresh set of correction and saw 5% drop and was trading at the $34 price level. No doubt, it has seen better days in the past.<\/p>\n<figure id=\"attachment_161038\" aria-describedby=\"caption-attachment-161038\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM.png\"><img decoding=\"async\" class=\"size-large wp-image-161038\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM-1024x535.png\" alt=\"\" width=\"740\" height=\"387\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM-1024x535.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM-300x157.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM-768x401.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM-1536x803.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.23.58-PM.png 1881w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-161038\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p>CEO of Euro Pacific Capital and major gold bug, Peter Schiff, took this opportunity to further add salt to the wounds. He took this opportune moment to highlight the qualities of gold, which allegedly make it a better store of value.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Gold?src=hash&amp;ref_src=twsrc%5Etfw\">#Gold<\/a> rose 7.5% in May, closing above $1,900. Meanwhile <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> had its worst month since 2011. It couldn&#39;t sustain $40K with $42K acting as powerful resistance. $30K support is back in play, and if it fails $20K is the next target. Memorial Day may have added meaning in crypto.<\/p>\n<p>&mdash; Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1398404793241120771?ref_src=twsrc%5Etfw\">May 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Also, Schiff hinted at further correction, all the way till $30k and eventually $20k.<\/p>\n<p>However, prominent Bitcoin investor of Morgan creek capital, Anthony Pompliano was quick to respond to such speculative tweets by Schiff.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">That&#39;s true. But how do you know <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#39;s run isn&#39;t over? Bitcoin could easily finish 2021 with a loss, and head into an even longer and colder winter than the one it experienced in 2018.<\/p>\n<p>&mdash; Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1398405686346854402?ref_src=twsrc%5Etfw\">May 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p>Commenting further in the same thread, another crypto enthusiast highlighted that:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24GOLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GOLD<\/a> is up a whopping 0.000% in 10 years. <a href=\"https:\/\/t.co\/chTVhmGQbT\">pic.twitter.com\/chTVhmGQbT<\/a><\/p>\n<p>&mdash; Sprack Burger (@dj_sergiov) <a href=\"https:\/\/twitter.com\/dj_sergiov\/status\/1398463685249564673?ref_src=twsrc%5Etfw\">May 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another recent study from <a href=\"https:\/\/ecoinometrics.substack.com\/p\/ecoinometrics-keeping-up-with-inflation\">Ecoinometrics<\/a>, stated that<\/p>\n<blockquote><p>&#8220;Performance since the Halving May 21, 2021: Since the halving a little over a year ago:<\/p>\n<p>BTC +306%<\/p>\n<p>SP500 +42.4%<\/p>\n<p>Gold +10.7%<\/p>\n<p>&#8230; and this despite Bitcoin&#8217;s major correction.&#8221;<\/p><\/blockquote>\n<div class=\"mceTemp\"><\/div>\n<figure id=\"attachment_161041\" aria-describedby=\"caption-attachment-161041\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM.png\"><img decoding=\"async\" class=\"wp-image-161041 size-large\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-1024x618.png\" alt=\"\" width=\"740\" height=\"447\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-1024x618.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-300x181.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-768x463.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-1536x926.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-29-at-6.53.58-PM-2048x1235.png 2048w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-161041\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/twitter.com\/ecoinometrics\/status\/1396828340837834753\">Ecoinometrics<\/a><\/figcaption><\/figure>\n<p>Yes, it was &#8216;Bitcoin&#8217;s worst month since 2011&#8217;. But volatility in this market is inevitable. PlanB, analyst behind BTC&#8217;s S2F model <a href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1396614808334655491\" target=\"_blank\" rel=\"noopener\">stated<\/a>:<\/p>\n<blockquote><p>&#8220;For bitcoin veterans it is indeed unbelievable and embarrassing, but for noobs this volatility can be too much. we all know the kind of people that sold in May, look around you, these are always the same people.&#8221;<\/p><\/blockquote>\n<p>He had further stated in a recent interview <a href=\"http:\/\/ambcrypto.com\/this-bitcoin-aspect-is-unbelievable-for-some-while-its-too-much-for-others\/\" target=\"_blank\" rel=\"noopener\">that<\/a>:<\/p>\n<blockquote><p>&#8220;I am less interested in $100K-$288K but focused on 2024 halving and beyond. I don\u2019t care about volatility, asymmetric return is key ($0 vs. $1 million).\u201d<\/p><\/blockquote>\n<p>Willy Woo, on-chain analyst had stated:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Chart: User growth on the BTC network.<\/p>\n<p>No-coiners are taking this opportunity to buy the dip.<\/p>\n<p>In case you&#8217;re wondering, the bull market is very much intact.<\/p>\n<p>Data: <a href=\"https:\/\/twitter.com\/glassnode?ref_src=twsrc%5Etfw\">@glassnode<\/a> <a href=\"https:\/\/t.co\/4KtlscCs43\">pic.twitter.com\/4KtlscCs43<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1396716391940575232?ref_src=twsrc%5Etfw\">May 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The month of May has indeed been a period of consolidation and recovery for bitcoin. Obviously, Bitcoin is bleeding at the moment, it witnessed a fresh set of correction and saw 5% drop and was trading at the $34 price level. No doubt, it has seen better days in the past. CEO of Euro Pacific<a href=\"https:\/\/ambcrypto.com\/but-how-do-you-know-bitcoins-run-isnt-over\/\">Continue reading <span class=\"sr-only\">&#8220;&#8216;But how do you know Bitcoin&#8217;s run isn&#8217;t over?&#8217;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":68,"featured_media":48145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,35,360,66,3,4,20],"tags":[],"class_list":["post-161019","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>&#039;But how do you know Bitcoin&#039;s run isn&#039;t over?&#039; - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The month of April- May has indeed seen a major bloodbath in the cryptocurrency domain, especially pertaining to Bitcoin. Various speculations have already started to bubble up around the world&#039;s largest crypto coin. Having said that, the very old debate of Bitcoin vs Gold didn&#039;t really settle down for once. It kept rising at different intervals in order to portray the respective strengths.\u00a0Obviously, Bitcoin is bleeding at the moment, it witnessed a fresh correction of about 5% and was trading at the $34 price level. 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Obviously, Bitcoin is bleeding at the moment, it witnessed a fresh\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/but-how-do-you-know-bitcoins-run-isnt-over\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-30T13:00:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2018\/10\/sunyu-381591-unsplash-e1539867785464.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shubham Pandey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/crypto_shubham\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shubham Pandey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/\"},\"author\":{\"name\":\"Shubham Pandey\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/7710783316829dfc843195d4eafda9e4\"},\"headline\":\"&#8216;But how do you know Bitcoin&#8217;s run isn&#8217;t over?&#8217;\",\"datePublished\":\"2021-05-30T13:00:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/\"},\"wordCount\":353,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/sunyu-381591-unsplash-e1539867785464.jpg\",\"articleSection\":[\"Altcoin\",\"Bitcoin\",\"BTC Trading View\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/\",\"name\":\"'But how do you know Bitcoin's run isn't over?' - AMBCrypto\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/but-how-do-you-know-bitcoins-run-isnt-over\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2018\\\/10\\\/sunyu-381591-unsplash-e1539867785464.jpg\",\"datePublished\":\"2021-05-30T13:00:03+00:00\",\"description\":\"The month of April- May has indeed seen a major bloodbath in the cryptocurrency domain, especially pertaining to Bitcoin. 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