{"id":176734,"date":"2021-02-12T15:30:00","date_gmt":"2021-02-12T12:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high\/"},"modified":"2021-02-12T15:30:00","modified_gmt":"2021-02-12T12:30:00","slug":"bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high\/","title":{"rendered":"# Bitcoin &#8216;supercycle&#8217; may emerge in 2021 as Fed balance sheet hits new record high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a417471424d9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a417471424d9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high\/#Woo_Retail_has_arrived\" >Woo: Retail has arrived<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high\/#Thermocap_produces_110K_BTC_price_target\" >Thermocap produces $110K BTC price target<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin &#8216;supercycle&#8217; may emerge in 2021 as Fed balance sheet hits new record high <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is looking increasingly like it is in a \u201csupercycle,\u201d not just a bull cycle, statistician Willy Woo suggests.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1360114016123645952\">Twitter exchange<\/a> on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken, calling the current BTC market a bull run like no other.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Woo_Retail_has_arrived\"><\/span>Woo: Retail has arrived<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Held had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/danheld\/status\/1342878164926799873\">previously explained<\/a> his theory about the state of Bitcoin in 2021 \u2014 that price gains cannot be compared to past bull phases, and do not even match the end of 2017 when BTC\/USD neared $20,000.<\/p>\n<p>Instead, this year is looking like a bull run on a wholly different magnitude \u2014 a \u201csupercycle\u201d in the making for Bitcoin.<\/p>\n<p>In his own observations, Woo confirmed that data pointed to retail investors returning to Bitcoin in January.<\/p>\n<p>\u201cRetail has arrived. The last 4 weeks. Welcome to the middle phase of the bull market. This one is like no other,\u201d he wrote. <\/p>\n<p>When Held suggested that the supercycle had arrived with them, he responded that 2021 would provide confirmation.<\/p>\n<p>\u201cCan answer that with more confidence in Q4. Right now it\u2019s only fundamental narrative, need to see if the capital flows validate it,\u201d he continued. <\/p>\n<blockquote><p>\u201cThe setup has me leaning towards it.\u201d<\/p><\/blockquote>\n<p>Search interest in &#8220;Bitcoin&#8221; spiked in the first portion of 2021, but still has noticeably more ground to cover in order to match the peak of 2017.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/ce3d5950-6c68-4188-8f31-03eae3cc12a4.jpg\"><figcaption style=\"text-align: center;\"><em>Google Trends data for &#8220;Bitcoin.&#8221; Source: Google Trends<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Thermocap_produces_110K_BTC_price_target\"><\/span>Thermocap produces $110K BTC price target<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With Bitcoin poised to tackle $50,000 resistance next, longer-term price indicators continue to point upwards even after the heavy upside of the past few months.<\/p>\n<p>As Cointelegraph reported, Bitcoin so-called \u201cthermocap\u201d is one such metric suggesting that the gains are only getting started and a top is still far off.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/8adaac1a-c3fc-47d0-a647-db26c7ad04ac.jpeg\"><figcaption style=\"text-align: center;\"><em>Bitcoin market cap to thermocap ratio chart with comparisons. Source: Rafael Schultze-Kraft\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>In an update this week, Rafael Schultze-Kraft, CTO of on-chain analytics resource Glassnode, estimated that should Thermocap repeat its 2017 performance, BTC\/USD could hit $110,000.<\/p>\n<p>\u201cLast bull market, $BTC was at ~$8,500 when Marketcap to Thermocap was at the current levels \u2013 and surged another 135% to the top in just a month. Things can go fast,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/n3ocortex\/status\/1359982874242514946\">tweeted<\/a>. <\/p>\n<blockquote><p>\u201cYea this time&#8217;s different, but just in case: 135% from here is ~$110k.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/ed99c021-bf0b-40ca-a03d-6e399395cf9b.png\"><figcaption style=\"text-align: center;\"><em>Fed balance sheet chart. Source: Holger Zschaepitz\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Macro pointers likewise continue to provide the perfect backdrop for increased interest in Bitcoin across the board. Last week, the U.S. Federal Reserve added to its balance sheet to the extent that it broke all-time highs once again.<\/p>\n<p>\u201c#Fed balance sheet has hit a fresh ATH of $7.44tn last week, equivalent to 34.7% of US GDP,\u201d Holger Zschaepitz, market commentator at German <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> outlet Die Welt <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1360152484686217220\">noted<\/a>. <\/p>\n<blockquote><p>\u201cFed\u2019s balance sheet is smaller than #ECB\u2019s, at 70.7% of GDP, and much smaller than those of SNB or BoJ where total assets are &gt;100% of GDP.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-supercycle-may-emerge-in-2021-as-fed-balance-sheet-hits-new-record-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin &#8216;supercycle&#8217; may emerge in 2021 as Fed balance sheet hits new record high &#8221; Bitcoin (BTC) is looking increasingly like it is in a \u201csupercycle,\u201d not just a bull cycle, statistician Willy Woo suggests. In a Twitter exchange on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":176735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNmZmNGMyYjQtMTI0My00MzU3LWJiOGMtZmRlYjMzOTNhNjU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-176734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/176734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=176734"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/176734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/176735"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=176734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=176734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=176734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}