Bitcoin may be about to reward the HODLers with a nice present
As we march through the holidays this year, bitcoin may end up paying a nice long term gift for those that were willing to hang on over the past 2 years.
If that's you, go ahead and pat yourself on the back.
Ever since bitcoin peaked in late 2017, it has been mostly downhill.
There was a nice rally to break the downtrend earlier this year, but apart from that it's been tough sledding for the bulls.
That may be about to change...
Yearly candles possibly indicating good things to come for the bulls
Looking at the yearly candle stick chart, we can see that bitcoin is very close to repeating a similar pattern during the last bear/bull cycle.
We had 3 years of up, followed by one year of pullback, followed by up...
Check it out:
(Source: ~~~ embed:1201527346995630080) twitter metadata:Q2hhcnRzQnRjfHxodHRwczovL3R3aXR0ZXIuY29tL0NoYXJ0c0J0Yy9zdGF0dXMvMTIwMTUyNzM0Njk5NTYzMDA4MCl8 ~~~
With only 4 weeks left in the year, it looks very much like we are likely to close this year right where we should be.
With a solid gain.
To continue repeating this pattern, we would expect to see the next two years show very explosive gains.
Before finally being followed by a significant bear market after the peak two years from now.
(Source: ~~~ embed:1201122852004605952) twitter metadata:MTAwdHJpbGxpb25VU0R8fGh0dHBzOi8vdHdpdHRlci5jb20vMTAwdHJpbGxpb25VU0Qvc3RhdHVzLzEyMDExMjI4NTIwMDQ2MDU5NTIpfA== ~~~
Halving now 5 months away
A lot of this price action seems to be based around the halving events.
Roughly every 4 years the block rewards are cut in half, meaning the emission rate of new bitcoin created is cut in half.
That slows down the inflation rate every 4 years.
This latest halving will drop the inflation rate under 2% for the first time ever, below the FED's target inflation rate for the USD.
Stay informed my friends.
-Doc
I think btc going down $4600
Did you sell or short it?
Sell
Is this the same person?
!BEER
and, i think i'll resteem this. ;)
Thanks for the resteem, as well as the beer. :)
View or trade
BEER.BEERHey @jrcornel, here is a little bit of from @jaydih for you. Enjoy it!Thanks.
Great data, thanks for the share! Crypto's price and momentum from end-2019 until early-2020 will be just as crucial as halving itself I believe, so let's hope for the best :-)
I am not sure we will see much end of this year, but hopefully.
What's your take on the cycle time. Do you think it's stretching out?
I for one think we will, in the coming cycles, find an average much closer to the last cycle. Which is a 4 year cycle.
Others think it's stretching. What's your take?
It's tough to say. We only have 2 previous cycles to go off of. So far, each one being slightly longer than the last. It might be slightly longer this time around, but I think we are talking months, not years. Close enough to where I think we can still call them 4 year cycles. Again, which is mostly related to the halving events. :)
Agreed
2 years of rise would be just a beautiful thing
If history repeats, we are currently within that time frame.