Bitcoin reaches 250,000$ in june 2022 (Extended halving cycle)
Bitcoin economics is very different from other cryptocurrencies. As the leader of the crypto world, Bitcoin has 4-year cycles embedded in its nature, called halvings. Halvings are recurring phenomena that happen every four years or 210,000 blocks of bitcoin mined. But nothing is fixed in nature and every cycle is bound to move a little bit every now and then. As a result of mass adoption of bitcoin and big money pouring into it, we are witnessing a very interesting delay in bitcoin cycles effects.
Don't get me wrong, Halvings don't change! but their effects on markets are, and that is essentially the reason for bitcoin's ATH delay this year. Let me explain what's written on the chart:
It took 367 days for BTC to reach it's ATH after the first halving cycle. You can easily spot that we had a significant Swing High and Swing Low from the first halving until the second one.
Fast forward to second halving and BAM! it took 526 days for the price to reach it's next ATH...
One other thing, each time the price of Bitcoin on halving day was almost 97-98% less than the price of it's preceding ATH...
We at TraderNova.com hypothesize that Bitcoin will take 754 days to reach it's new All-Time-High price of 250,000$ on or around June 6th, 2022!
Don't get me wrong, Halvings don't change! but their effects on markets are, and that is essentially the reason for bitcoin's ATH delay this year. Let me explain what's written on the chart:
It took 367 days for BTC to reach it's ATH after the first halving cycle. You can easily spot that we had a significant Swing High and Swing Low from the first halving until the second one.
Fast forward to second halving and BAM! it took 526 days for the price to reach it's next ATH...
One other thing, each time the price of Bitcoin on halving day was almost 97-98% less than the price of it's preceding ATH...
We at TraderNova.com hypothesize that Bitcoin will take 754 days to reach it's new All-Time-High price of 250,000$ on or around June 6th, 2022!