#Bitcoin after the Halving
Jul. 25, 2021
439 days after the 3rd halving
#BTC at $34,043
We are finishing this week with:
🟧 BTC bouncing back on the $30,000 level.
🟧 But still stuck in the 2nd longest drawdown in a post-halving market.
... (1/5)
Indeed this #Bitcoin drawdown:
🟧 Now lasted 103 days.
🟧 Bottomed at -55% from the ATH.
🟧 Has been caught in a relatively low volatility environment since then.
... (2/5)
So while it is nice to see #BTC on the uptrend for the last few days it could still take a while for a new parabolic move to develop.
Remember than the massive drawdown of 2013 lasted 200 days... (3/5)
... and with volatility still on the downtrend it is less likely (although not impossible) for the price to jump suddenly... (4/5)
So probably the best thing to do now is do like everyone else: stack sats.
Play the long game and accumulate slowly but surely.
This is what most of people are doing these days according to #Bitcoin on-chain data. (5/5)
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