Repeated twice? Since the creation of Bitcoin in 2009 by Satoshi Nakamoto, the price of BTC has evolved through regular cycles. Punctuated by the famous halvingsevents that halve the miners’ reward every four years, these cycles are the source of much speculation. Since 2024, several experts agree that we could witness a supercycle unpublished, we have also explained this thesis in this article. This cycle which would be a real break with what we have known. But, this potential rise of Bitcoin is also accompanied by the rise of memecoins. And that’s not to everyone’s taste, and even less so to the queen of cryptocurrencies. Explanations.
What is a Supercycle for Bitcoin and why is it different?
The concept de supercycle refers to an exponential and lasting rise in the price of Bitcoin, without the usual corrections observed after the bull runs past. This time, indicators likeinstitutional adoption and the arrival of ETF Bitcoin on major stock exchanges could create this new momentum.
But in the middle of this possible rise, Murad Mahmudov, a former bitcoiner converted to memecoins accused of some insider trading, but still an influential analyst, predicts a phase of chaos where memecoins will experience a spectacular rise before Bitcoin becomes the dominant asset. He therefore expects a proliferation of memecoins followed by the final rise of Bitcoin.
So, this is not a question of taking Mahmudov’s words as gospel. However, the idea of a supercylce for memecoins before Bitcoin is not illogical.
Memecoins: The threat before the Supercycle?
Indeed, in 2024, memecoins stole the spotlight from Bitcoin. WIF, BONK, MAGA… whether political or animal, on Solana or on Ethereum, memecoins have been rain and shine on the crypto market this year.
And, according to Google Trends searches for “Bitcoin” (image below), these have reached an annual low. On the contrary, searches for “memecoins” (image above) jumped. In September, more than 491,000 new tokensmostly memecoins, were created on the Solana network. These cryptos attract investors with their quick gains, but also present enormous risks, making them more like speculative games than solid investments.
Why would this Supercycle be unique?
Note also that in addition to memecoins, several elements indicate a single cycle for Bitcoin in 2024 :
- Institutional adoption : Companies like MicroStrategy have integrated Bitcoin into their financial strategy, others are following suit and institutional investors are increasingly numerous in the ranking of the largest BTC holders.
- Bitcoin ETFs : Their arrival on traditional stock markets makes Bitcoin accessible to new investors, particularly in the USA.
- Increased correlation with gold : Increasingly considered a store of value, Bitcoin follows the same trends as gold.
So, are we in a supercycle for memecoins? Warning sign of a bull run for Bitcoin? This question remains open. And, there is no definitive answer yet. The indicators are divided between the spectacular rise of memecoins and the more stable progression of Bitcoin.
Indeed, some memecoins as Shiba Inu (SHIB) et Pepe Coin (PEPE) appear in the top 20 cryptocurrencies on CoinMarketCap. Their rise in popularity, often linked to unbridled speculation, contrasts sharply with Bitcoin’s long-term vision. The queen of cryptos remains a solid store of value.
While the memecoins are experiencing rapid gains, driven by viral trends, the real rise of Bitcoin, if it occurs, could mark a decisive turning point. If Bitcoin manages to get through this chaotic phase and maintain its dominance despite the frenzy of memecoinsthis could mark the beginning of this famous supercycle. A cycle where Bitcoin establishes itself as the dominant asset, beyond the usual cyclical fluctuations.
For the moment, everything suggests that we are going through a phase of mutation of the crypto market. The real answer to our question could therefore be on the horizon. So, prepare your wallets… wait…. but make sure you don’t throw your private keys into the landfill!
From a simple reader in 2017 to editor-in-chief since September 2023, I now combine writing with my knowledge through my articles for Le Journal du Coin. My only goal is to inform you about the universe of tomorrow: that of the blockchain, cryptocurrencies, NFTs and the metaverse. Convinced that Bitcoin is a revolution, I intend to participate in the popularization of our ecosystem.
