Despite Bitcoin (BTC)’s neutral movement in a range between $106,786 and $115,957 over the past week, Jordi Visser, a macroeconomic analyst and veteran Wall Street figure, believes that the cryptocurrency is now in a phase similar to an initial public offering (IPO).
He says that long-term holders are gradually exiting and new investors are buying in when prices fall, a process that is leading to a wider distribution of wealth among more people.
Visser explained that this phase of moving from centralized ownership to stable distribution is a sign of Bitcoin’s maturity. He said that despite the market being in a slump and negative sentiment, the fundamentals of the network remain strong, including a new record hashrate, growing adoption of stablecoins, and the continued approval of exchange-traded funds (ETFs).
He added that this process usually takes between 6 and 18 months, and in the end, volatility decreases and ownership is spread among more players.
Visser emphasized:
Bitcoin is consolidating, not collapsing. Every price drop has a buyer, and the price is not reaching new lows, but rather remaining in a stable range.
