{"id":5148,"date":"2025-11-25T12:16:00","date_gmt":"2025-11-25T12:16:00","guid":{"rendered":"https:\/\/cryptonews.com\/cz\/?p=5148"},"modified":"2025-11-24T11:49:21","modified_gmt":"2025-11-24T11:49:21","slug":"bitcoin-se-riti-dolu-presto-neni-duvod-cekat-apokalypsu-tvrdi-predni-expert","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cz\/news\/bitcoin-se-riti-dolu-presto-neni-duvod-cekat-apokalypsu-tvrdi-predni-expert\/","title":{"rendered":"Bitcoin se \u0159\u00edt\u00ed dol\u016f, ale p\u0159esto nen\u00ed d\u016fvod \u010dekat apokalypsu!"},"content":{"rendered":"

Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> se v posledn\u00edch dnech propadl pod n\u011bkolik z\u00e1sadn\u00edch \u00farovn\u00ed<\/strong> a atmosf\u00e9ra mezi investory houstne. Likvidace rostou a volatilita se prudce zvy\u0161uje. Trh te\u010f t\u00e1pe, zda jde o za\u010d\u00e1tek hlub\u0161\u00edho poklesu, nebo jen zdravou korekci po p\u0159ep\u00e1len\u00e9 letn\u00ed rally.<\/strong><\/p>

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\"btc
Bitcoin (BTC)<\/div>
<\/span><\/span><\/div><\/div><\/div>
24h<\/span>7d<\/span>30d<\/span>1y<\/span>All time<\/span><\/div><\/div><\/canvas><\/div>

A\u010dkoliv sentiment sklouz\u00e1v\u00e1 do temn\u011b medv\u011bd\u00edho teritoria, n\u011bkte\u0159\u00ed analytici tvrd\u00ed, \u017ee sou\u010dasn\u00e1 situace nen\u00ed katastrofa, ale p\u0159irozen\u00e9 ochlazen\u00ed p\u0159eh\u0159\u00e1t\u00e9ho trhu<\/strong>. Cais Manai<\/strong>, spoluzakladatel a produktov\u00fd \u0159editel v TEN Protocol, situaci popisuje jako logickou f\u00e1zi po obdob\u00ed euforie:<\/strong><\/p>

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\u201eL\u00e9to bylo extr\u00e9mn\u011b p\u0159eh\u0159\u00e1t\u00e9. B\u011bhem jedin\u00e9ho odpoledne zmizelo 19 miliard dolar\u016f v p\u00e1kov\u00fdch pozic\u00edch a t\u00edm euforie skon\u010dila. Tohle nen\u00ed apokalypsa. Je to norm\u00e1ln\u00ed f\u00e1ze, kdy si trh vydechne a vr\u00e1t\u00ed se do reality.\u201c<\/p>\n<\/blockquote>

Bitcoin: Medv\u011bd\u00ed sc\u00e9n\u00e1\u0159, nebo jen posun cyklu?<\/h2><\/span>

Mnoho pesimist\u016f tvrd\u00ed, \u017ee tradi\u010dn\u00ed \u010dty\u0159let\u00fd cyklus p\u0159estal fungovat<\/strong>. N\u011bkte\u0159\u00ed investo\u0159i o\u010dek\u00e1vali klasickou \u201eQ4 pumpu\u201c v \u0159\u00edjnu a listopadu<\/strong>. Realita v\u0161ak byla jin\u00e1. Ti, kte\u0159\u00ed nakupovali bitcoin nad 100 000 USD<\/strong>, te\u010f rad\u011bji omezuj\u00ed expozici, ne\u017e aby riskovali dal\u0161\u00ed pokles<\/strong>.<\/p>

Na druh\u00e9 stran\u011b stoj\u00ed n\u00e1zor, \u017ee cyklus nezmizel, ale<\/strong> posunul se<\/strong>. Halving bitcoinu<\/a> u\u017e nem\u00e1 tak dominantn\u00ed vliv jako d\u0159\u00edv, proto\u017ee trh dnes formuje institucion\u00e1ln\u00ed kapit\u00e1l<\/strong>, nikoli jen rytmus halvingov\u00fdch ud\u00e1lost\u00ed. Instituce m\u011bn\u00ed rychlost i charakter cel\u00e9ho trhu \u2014 a cyklus se tak protahuje, nikoli ru\u0161\u00ed<\/strong>.<\/p>

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\"V\u00fdvoj
V\u00fdvoj ceny bitcoinu po jednotliv\u00fdch halvingov\u00fdch cyklech. Zdroj: Caleb & Brown<\/figcaption><\/figure>\n<\/div>

Manai upozor\u0148uje, \u017ee podobn\u00e9 korekce tu byly v\u017edy:<\/strong><\/p>

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\u201eKa\u017ed\u00fd cyklus m\u00e1 moment, kdy se lid\u00e9 za\u010dnou pt\u00e1t, jestli tohle nen\u00ed konec. A ka\u017ed\u00fd cyklus bitcoin uk\u00e1\u017ee, \u017ee nen\u00ed. To, co nyn\u00ed vid\u00edme, je standardn\u00ed reset. Slab\u00e9 ruce odch\u00e1zej\u00ed, trh se zbavil nadm\u011brn\u00e9 p\u00e1ky, dlouhodob\u00ed dr\u017eitel\u00e9 z\u016fst\u00e1vaj\u00ed a instituce ti\u0161e nakupuj\u00ed.\u201c<\/p>\n<\/blockquote>

Makro nejistota brzd\u00ed r\u016fst<\/h2><\/span>

Dal\u0161\u00edm negativn\u00edm faktorem je sou\u010dasn\u00fd makroekonomick\u00fd v\u00fdvoj. Slab\u00e1 ekonomick\u00e1 data, zmatek kolem vl\u00e1dn\u00edho \u201eshutdownu\u201c v USA a nedostatek relevantn\u00edch dat p\u0159id\u00e1vaj\u00ed na nervozit\u011b<\/strong>. <\/p>

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