The election victory of US President Donald Trump is not the only big story that increases the value of the entire crypto market, said Jesse Myers, co-founder of Onramp Bitcoin.
Now that the markets are going through the top, all the bullish statements are over bitcoin (BTC) and other cryptocurrencies back again. But not only is the crypto market growing, all traditional markets are also showing a lot of green figures.
The second half is the main reason for the current bull
Jesse Myers says that there is more going on in the crypto market than just a push from pro-bitcoin Donald Trump. He says that the half also plays a big part in the current price increases. He said the following: ”If you are wondering what is happening with Bitcoin. Yes, the incoming one bitcoin— a friendly Trump administration has provided a catalyst recently, but that’s not the main story here. “
Myers shared his commentary on X, revealing that it is the biggest story about Bitcoin right now bitcoin more than 6 months after the discrimination. The previous times that Bitcoin went into a bull run, this also happened about 6 months after the halving. This time the bull took a little longer, because the market was waiting for the American presidential elections.
A halving is an event that takes place every four years, where the reward for mining new bitcoin blocks is cut in half. This means that fewer new bitcoins enter circulation after each halving, which limits the supply and therefore puts pressure up on the price.
The next BTC half
If we look at the history of bitcoin and the bitcoin halvings, the halving has been shown to be the main tool to increase the price. In recent bitcoin cycles, such as the levels of 2012, 2016 and 2020, we saw a significant increase after about 6 months.
Investors and analysts are increasingly looking at the half as the most important indicator and it seems that it is easier to predict when bitcoin will move up again. The pattern seems to be roughly the same every four years, with higher and higher peaks and lower troughs. However, it is still important that everyone pays attention to market conditions or so called “black swan events”.
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2024-11-14 17:28:00
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