Bitcoin halving is finally approaching. Block halving events occur every four years or after 210,000 blocks on the Bitcoin blockchain. Initially, Bitcoin’s block reward was 50 BTC. Presently, the block reward stands at 6.25 BTC, with the next reward set to decrease to 3.125 BTC. This systematic reduction in rewards decreases the pace at which new Bitcoins are created, as the halving process is pre-programmed into Bitcoin’s underlying code. Historically, the halving has brought a big bull run in Bitcoin history. In last cycle, Bitcoin had halving on May 2020 and the price was 8602 $. It reached 56 705 $ after a year. I think this time is no different and there will be bull run around. Act accordingly.
Bitcoin has breached 70k level and inching towards 72k. Generally, after breaching previous all time high it does for price discovery. Historically, this time Bitcoin goes nuts and runs hard. Get ready for some volatility
Great talk about Bitcoin mining and future by Fred Thiel, CEO Marathon Digital
Bitcoin is in bull market. It has already made all time high. After it strongly breach last ATH level, it rallies rapidly. One thing to note is there will be pull backs in between just like previous years. Do not panic sell. Long way to go.
To me Bitcoin is rising due to supply shock. There is huge demand of Bitcoin due to spot ETF and very less Bitcoin supply.
Bitcoin has crossed 57000 USD and approaching all time high. It may seem quite bullish as it has gained more than 10% in 24h. But retailers have not arrived it. In any bitcoin cycle, it generally ends with retailers fomoing in Bitcoin. I am monitoring bitcoin interest over time on google trends. It’s good indicator of Bitcoin interest for retailers. Patience is the key here.
MicroStrategy scooped an additional 3,000 Bitcoin (BTC), spending an estimated $155 million at an average price of $51,813 for its latest BTC buy. The company founded by Saylor now holds 193,000 of crypto’s leading assets.
The real bull market is expected to start at Bitcoin surpassing $70,000, with emphasis on cautious investment strategies and the importance of personal research and skepticism in the crypto space.
– Arthur Hayes [BitMex Cofounder]
Watch the full episode https://youtu.be/cwk_l-U-0D4?si=Ki9d0M6qdh_qJsJc
Bitcoin at 50K. Long bear market is gone and we are getting ready for new bull market. 🚀
