Quote from: Smartprofit on Today at 05:47:51 PM

As far as I remember, in 2019, Bitcoin price volatility was also very low. The media and cryptocurrency exchange executives wrote that low volatility was here to stay and advised trading with leverage (if you want to make a profit).

2019 can be compared with 2023 as the intial year of the bull market, which are often a bit less volatile, that's true.

But even if you ignore the Covid pandemic crash, you had the 2019 (boreal) summer spike to $14000, coming from $3000-4000 at the start of the year.

Quote from: Smartprofit on Today at 05:47:51 PM

it is also too early to say that we are in a full-fledged bull market (after all, Bitcoin price is now even lower than the ATH of the previous bull cycle).

A bull market is any longer episode with a sustained upwards movement following a previous low. The start of this bull market was at $15,500; which means that it led already to a +300% price increase. I would not be surprised if the top of the bull market is significantly less far away than 300% from the current $65-70k. In fact, I would be surprised by more than another 100% more (e.g. more than 150k) until late 2025.

I agree however with you that there's potential for surprises ahead. I believe there could be a volatility spike when people start to talk about a gold flippening, which would cause both FOMO and panic due to the (predictable) backlash, for example the first influencers talking about that phenomenon could be harshly criticized and gold bugs could start to finance anti-Bitcoin campaigns.

As gold however has a market cap that would be equivalent of a Bitcoin price of more than $500,000 I expect this debate however only to happen if Bitcoin manages to grow over $200k.