Summary
- Seamus Rocca, CEO of Xapo Bank, stated that the 4-year Bitcoin cycle remains valid.
- He mentioned that a long-term downturn may follow after a new all-time high.
- He said that Bitcoin is still difficult to view as an inflation hedge and has a high correlation with risky assets.
There has been an argument that, according to Bitcoin’s (BTC) 4-year cycle, a market downturn is likely to occur.
On the 13th (local time), Seamus Rocca, CEO of Xapo Bank, said in an interview with Cointelegraph, "The 4-year cycle of Bitcoin is still valid," and added, "(After reaching a new all-time high) a prolonged bear market may follow."
He particularly noted, "A Bitcoin downturn may not be caused by any special issue, but may start due to simple factors such as a decrease in positive catalysts or development delays."
He also shared his stance on Bitcoin as a hedge against inflation. He said, "It is still difficult to view Bitcoin as a hedge against inflation," adding, "It remains a risk asset and is still highly correlated with equities." However, he further stated, "I believe that someday it will become a hedge against inflation."
Son Min
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