Bitcoin is up 71% over the past year, but investors still feel frustrated with the recent performance of the world’s largest cryptocurrency.
Overall, Bitcoin remains one of the best-performing assets in history. However, lately, it seems to be stuck in a slump.
Is this a bug in Bitcoin’s code? At least one analyst, Jordi Visser, believes the pullbacks are actually part of steady growth and warns that more pullbacks could become common even as Bitcoin continues to rise.
Visser compares Nvidia, the semiconductor giant whose stock skyrocketed during the AI boom. Less than three years after ChatGPT’s rise, Nvidia’s stock surged by over 1,000%.
The comparison makes sense, according to Visser, because Bitcoin isn’t just a digital currency or a speculative investment – it’s becoming part of the larger AI and tech conversation.
As AI transforms traditional industries and replaces old business models, investors may start to view $BTC as both a hedge against disruption and the native digital store of value for the next wave of innovation.
In that telling, capital might flow into Bitcoin alongside AI-favored equities, tying its trajectory to momentum in the tech sector.
Visser’s outlook doesn’t preclude further upside; his prediction about Bitcoin’s connection with AI actually adds weight to Bitcoin’s long-term outlook. Still, Visser warns that deep pullbacks may punctuate the rally.
On the technical side, EMAs still paint a bullish picture, despite recent narrowing.
A similar narrowing of the EMA bands occurred before the surge in $BTC’s price in July, building up to August’s ATH.
That makes projects like Bitcoin Hyper, with a problem-solving Bitcoin Layer 2, even more critical.
Bitcoin suffers from congestion and low throughput, but Hyper relies on Solana’s greater scalability. With the SVM and a Bitcoin Canonical Bridge, all the tools and features that investors typically find on Solana are now open to Bitcoin. That means meme coins, DeFi, native staking – the whole works.
