Worst performing Bitcoin cycle?
Hello!
I was reading twitter and I found an interesting piece from Pierre Rochard that shows the performance of Bitcoin after each halving. It also allows to compare the performace of each epoch.
And if you zoom in...
As you can see in the Zoomed IN image we are currently in the position of being the worst performing Halving price-wise. But is this true?
Another interesting piece into the discussion is pointed out by Adam Back, the founder of Blockstream, creator of Hash Cash and a Bitcoin OG. He says the following:
sort-of. but there was a not before seen pre-halving new ATH at $73.5k march 2024, 1month before the halving, where bitcoin had basically tripled in the 6months before.
If we just look at this chart, we are not able to see that Bitcoin reached ATH prior to the halving. Something that never happened before!
For that reason, stating that this Bitcoin halving is the worst it's not 100% accurate. A lot of bullish price action happened prior to the halving and we are not able to see that.
Meanwhile...
The German government keeps making the biggest mistake after WW2 and keeps selling Bitcoin. Their address now sits below the 40,000 Bitcoin mark. They had 50,000 just few days ago. At some point they will be forced to stop selling.
I'm waiting for that to happen in 1 month or less.
I hope you had a great weekend!
Stay safe out there!
Posted Using InLeo Alpha
I believe the data suggests there's more to the story than just current performance metrics.
Everyone waiting for Bitcoin to hit price discovery mode and or supply shock! Still 1.5 Years left of the bull run...
We've been waiting for this for a long time.
Time to enjoy the rewards, just a little bit more patience.
Hope you are fine buddy!
Yeah man. I'm good thanks. I hope you are too.
Instant gratification chasers are going to get either rekt or left sidelined.
The majority is missing on the fact that we are just two-three months after halving and that is usually chop time. Wait until miners capitulate and the supply shock kicks in, then we will see what the bull market is capable of. Altcoins have not even been awoken...