#Bitcoin after the Halving
Aug. 28, 2021
473 days after the 3rd halving
#BTC at $48,583
1/ Some resistance at $50k. This is not totally unexpected but still...
2/ ... the recovery from the bottom of this correction is well underway.
We can hope that there will be some repeat of 2013 when #BTC came out strong from a -60% drawdown in the middle of the post-halving bull market.
3/ If that's the case, this drawdown will probably be the second longest one that #Bitcoin ever experienced outside of a multi-year bear market.
4/ Now it is true that the long term accumulation trend remains intact. But...
5/ ... there is some divergence of behaviours:
↗️ Small fish have been accumulating coins faster.
↘️ Whales have started distributing coins after $45k.
If whales start ticking back up this might be all we need for #Bitcoin to smash through $50k.
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