The cryptanalyst Murad Makhmudov noted that currently the number of posts on Twitter about bitcoin is at the level of 2014.

1/ This screams bearish.
Tweets about Bitcoin at the same level as 2014 and lower than at any point in 2016, like nothing has changed.

That is an absolute disaster for the price in the medium-term in my opinion. pic.twitter.com/DTdsUepx1t

— Murad Mahmudov 🚀 (@MustStopMurad) 3 fierce 2019 R.

The analyst also stressed that the bitcoin remember even less than in 2016. This, in his opinion, a clearly bearish signal for the medium term.

He believes the market is still “rule” greed and speculation. Decentralization, very few people care about.

3/ There are far fewer people who care about decentralized sovereign uninflatable currency for its own sake than you’d like to think.

Cryptocurrency”s biggest use case is speculation. That is a fact.
For better or worse, Speculation and human greed are your biggest hope.

— Murad Mahmudov 🚀 (@MustStopMurad) 3 fierce 2019 R.

Makhmudov is also confident that the market will again become attractive to “value investors” when the price drops below the current level.

8/ At some lower level, the space becomes once again attractive for speculative “value investors” but I think that level is lower than here.

— Murad Mahmudov 🚀 (@MustStopMurad) 3 fierce 2019 R.

He is convinced that the duration of the bear market prolonged global economic instability and the perception of bitcoin as a risky asset.

9/ Add to all this the overall weakness in the global macroeconomy & bitcoin still being perceived as a risk asset.

This bear market will last for much longer. Those that are building, learning, studying right now of course will be handsomely rewarded in 2023/24.

— Murad Mahmudov 🚀 (@MustStopMurad) 3 fierce 2019 R.

“This bear market will last much longer. Those who now create and learn, of course, will be richly rewarded in 2023-2024 gg”

Earlier Murad Makhmudov noted that the bitcoin will become more liquid and reliable store of value, a generally accepted medium of exchange, a convenient monetary unit, and then and world money.

This requires greater decentralization, custody decisions and legal certainty. Also important is the development of network effects, price stabilization, better awareness and mass adoption.

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