Bitcoins/Litecoins/Virtual Currencies

Flobee

Flobee

Vyemm Raider
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Just a reminder that we're right in the cyclical window for BTC price to run hard. I wouldn't get too attached to any narrative as to why this is happening outside of that personally. Sell if you want, but I definitely wouldn't short it. Go reference charts from 2020 and 2016 in this same time period for reference.

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Tmac

Tmac

Adventurer
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Flobee said:
Just a reminder that we're right in the cyclical window for BTC price to run hard. I wouldn't get too attached to any narrative as to why this is happening outside of that personally. Sell if you want, but I definitely wouldn't short it. Go reference charts from 2020 and 2016 in this same time period for reference.

View attachment 555406

View attachment 555407
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I see no obvious correlation in your charts. You might as well have chosen May of 2020 in the top chart and Sept of 2016 in the bottom chart.
 
Flobee

Flobee

Vyemm Raider
2,670
3,065
Tmac said:
I see no obvious correlation in your charts. You might as well have chosen May of 2020 in the top chart and Sept of 2016 in the bottom chart.
Click to expand...
  • The second halving took place on July 9, 2016, reducing the block reward from 25 BTC to 12.5 BTC.
  • The third halving occurred on May 11, 2020, reducing the block reward from 12.5 BTC to 6.25 BTC.
  • Fourth Halving: April 19, 2024 (block height: 840,000, block reward: 3.125 BTC)
I chose today's date in the halving years of the prior two cycles. My point being that historically price starts to move 6-18 months after the halving. If you believe the halving is the cause of cyclical price expansion then this makes sense. Until proven wrong I tend to believe that BTC runs in 4-year cycles and thus this is a poor time to sell. My 2c
 
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