Whoever Satoshi Nakamoto is/are, when Bitcoin’s whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System’’ was published on 31 October 2008 he/she/they probably did not envisage the sheer scale of the financial and technological revolution that is set to be unleashed by Bitcoin. As the title of Bitcoin’s whitepaper suggests, the conceptual idea of Bitcoin is to establish “an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” Fast forward to October 2021, Bitcoin has amassed a market capitalization in excess of USD1 trillionand serves as the backbone of a cryptocurrency market which is worth more than USD2 trillion.
In general, Bitcoin has a four year cycle due to the fact that it takes roughly four years for 210,000 blocks on Bitcoin’s network to be mined after which the block reward for Bitcoin mining will be cut in half under what is colloquially referred to as Bitcoin halving. Although the jury is still out on the question as to the effects of Bitcoin halving events on the price of Bitcoin, the general consensus is that a Bitcoin halving event forms the middle of the market cycle as illustrated by previous Bitcoin halving events which took place in 2012, 2016 and 2020. What is clear however is that through its four year cycles of bear and bull markets, Bitcoin has always emerged with stronger support lines and higher resistance lines which illustrates both the resilient tenacity and growth prospects of the Bitcoin market.
Bitcoin: The Star Crypto Rodeo
It is trite knowledge that the crypto market is known for its volatility as aptly illustrated by its intermittent and somewhat periodical fractal bearish and bullish markets. In many ways, this is largely due to the relative youth of the crypto market which results in the market being somewhat immature and there being consequently large amounts of leverage in the market. As we progress along, the crypto market would grow in maturity and its degree of volatility would presumably be decreasing in a proportionate manner as the market passes through its discovery phase and enters into a state of relative stability. For now though, we would have to make do with the volatility of the crypto market and endeavor to read the indications of the market using Bitcoin as the yardstick.
This is because with Bitcoin being the pioneering cryptocurrency which is leading the way in terms of market dominance, the rest of the crypto market i.e. the Altcoin market tends to sway to the ebbs and flows of Bitcoin so much so that there is a saying which goes “when Bitcoin sneezes, the rest of the crypto market catches a cold.” Throughout the course of the last thirteen years since its inception, Bitcoin has gone through at least three major bear markets with the latest one being the crypto winter which lasted 415 days during which the price of Bitcoin declined by a worrying 83%. Each time the price of Bitcoin crashes, the Altcoin market tends to fall in unison so when it comes to reading the indications of the crypto market, it may be best to play Follow the Leader.
If historical data is anything to go by, September is not a good month for Bitcoin with the monthly performance of the flagship cryptocurrency’s price going on a losing streak for four straight years since 2017 prior to September 2021. With September 2021 now behind us, it seems that Bitcoin’s September Curse remains unbroken with the price of Bitcoin having fallen by 7.34% during the course of the month. Given Bitcoin’s strong correlations with stocks, it is not too surprising to find that the stock market too has a historical tendency to perform the poorest during the month of September so much so that this has prompted this phenomenon to be dubbed as the September Effect.
Nonetheless, in the same way that what goes up must come down, what went down would sooner or later bounce back up. In the context of the price of Bitcoin, it has closed the month of October in the black seven out of nine times since 2013. When this is taken into consideration in tandem with the recent appearance of the proverbial Bitcoin Golden Cross and the fact that October tends to be a month for dip-buying (which is only natural given Bitcoin’s September Curse), the omens are looking good for Bitcoin to lead the crypto market on another bull run in the coming days.
Photo: Bitcoin Price Chart for September 2021 / CoinMarketCap
Hitting the Crypto Bullseye With TKO
Any investor worth their salt would know that the bull and bear cycles are transient in nature as they are passing phases which come and go in a way not unlike the four seasons of the year. Accordingly, investors would want to look for a cryptocurrency which would not only allow them to capitalize on the crypto bull market but which also has a sufficiently strong foundation to weather any market conditions once the bull market ends including the possibility of an ensuing bear market. For any investor looking to join the crypto bull ride, TKO stands out as a golden ticket which offers the best bet to capitalize on the bullish crypto market as well as the market conditions following thereafter once the good times have come to an end.
From the outset, in one way or another TKO as one of the most promising Altcoins in the crypto market is set to gain from the bullish sentiments of the crypto market. On top of that, TKO has a rock solid foundation as it is the first entity in Indonesia to be registered with the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI) in November 2019. The strength of TKO’s foundation is further boosted by its host of functional use cases in the form of Binance Pay and TokoMall with more to come in the form T-Hub (which will be a ground-breaking crypto community center in the picturesque island of Bali in Indonesia) as well as TokoSwap (which together with Toko Incubator and Tokocrypto Sembrani Blockchain Accelerator (TSBA) would form part of Tokocrypto’s upcoming Toko Launchpad).
The sheer strength of TKO’s foundation translates into its potential growth prospects as the trading price of TKO is projected to rise up to USD3.37 by 2022, USD3.94 by 2023 and USD5.22 by 2024¹. In this way, TKO offers crypto investors the platform to kill two birds with one stone by capitalizing the bull market for short-term profit maximization while leveraging the fundamentals of TKO for mid to long-term capital growth. Fair to say, TKO offers investors a surefire chance to hit the crypto bullseye thereby serving as a golden ticket to the crypto bull ride.
¹ As of 8 October 2021. No part of the foregoing constitutes, or shall be deemed as constituting, financial advice whereby you are strongly advised to always do your own research (DYOR) prior to making any investment (whether in cryptocurrency or otherwise) and to obtain independent and professional advice if necessary.
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