Share this page!

ecoinometrics Profile picture
Twitter logo
2 Oct, 4 tweets, 3 min read
#Bitcoin after the Halving
Oct. 02, 2021

508 days after the 3rd halving
#BTC at $47,883

Despite lagging behind the growth trajectory of the previous cycles, Bitcoin remains pretty resilient... 1/4
2/4 We are one month away from the longest drawdown in #Bitcoin's history outside of an end-of-cycle bear market. 👇
3/4 But if we compare to previous drawdowns, it looks like we are already in the recovery phase of the move.

#Bitcoin might only need a little push to go back to its all-time high of April. 👇
4/4 And you know what? On-chain conditions are actually supportive of a new leg up for #Bitcoin as:

🟠 Whales are accumulating coins again.
🟠 Smaller addresses never stopped stacking sats.

📈🧐👍

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with ecoinometrics

ecoinometrics Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ecoinometrics

ecoinometrics Profile picture
21 Sep
1/ After the price action we have seen today, it is good to remember that #Bitcoin is exposed to the risk of liquidity events in the broader market.

That means if the SP500 dips significantly, leveraged traders will definitely sell some BTC to raise cash.

See March 2020. 👇
2/ Right now with the increased likelihood that the Fed will start tapering their purchasing program we get a higher chance of a significant corrections in the stock market.

Let’s remember that the Fed’s balance sheet is up $4 trillions in two years...
3/ So what happens when cash stops flowing in?

Well…
Read 8 tweets
ecoinometrics Profile picture
19 Sep
#Bitcoin after the Halving
Sep. 19, 2021

495 days after the 3rd halving
#BTC at $47,720

1/ For the past few months this cycle has been lagging behind the previous ones.

However most metrics point towards the fact that we are due for another leg up. Image
2/ That being said, in 40 days this drawdown will become the longest #Bitcoin has ever experienced outside of a bear market. 👇 Image
3/ But the price trajectory shows a well known pattern of recovery.

So #BTC might very well move towards a new all-time high this fall.
Read 4 tweets
ecoinometrics Profile picture
11 Sep
#Bitcoin after the Halving
Sep. 11, 2021

487 days after the 3rd halving
#BTC at $45,596

1/ It has been 151 days since BTC hit its all-time high... 👇
2/ We are 50 days away from this correction being the longest drawdown #Bitcoin experienced in a post-halving bull market... 👇
3/ But the recovery is well underway. If we get some catalyst for FOMO to kick in, who knows, #Bitcoin could even do a repeat of 2013. 🚀

One can hope🤞...
Read 4 tweets
ecoinometrics Profile picture
28 Aug
#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.
Read 5 tweets
ecoinometrics Profile picture
26 Aug
#Bitcoin after the Halving
Aug. 26, 2021

471 days after the 3rd halving
#BTC at $46,995

1/ Some difficulties to push past $50k. Not entirely surprising when we look at some on-chain data... Image
2/ The addresses controlling 10 to 10k #BTC have been accumulating more slowly. In particular the whales have turned neutral on a 30 days basis. Image
3/ Again, the question is to know if this is temporary or if we'll get a bigger divergence between whales and small fish.

Obviously if everyone was pulling in the same direction this would be better for #Bitcoin's price action. 🤷‍♂️ Image
Read 4 tweets
ecoinometrics Profile picture
23 Aug
1/ Good news. Compared to February, when #Bitcoin crossed $50k for the first time, the on-chain dynamic has changed:
🔵February, less and less people were accumulating.
🟠Now, more and more people are accumulating.
2/ If we go past the smooth picture given by the participation score and look at the raw data we see that:
🟠Smaller addresses are stacking sats at a constant pace.
🟢The 10 to 1k #BTC bucket has turned neutral.
🟡Whales are still up on a 30 days basis.
3/ So far this is different from February when the move above $50k was mostly carried by the small fish.

But to build a sustainable trend that would push #Bitcoin into the 6 figures territory it would be great to avoid any divergence between small fish and whales.
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @ecoinometrics has new unrolls!

Check out other threads from @ecoinometrics!

Read all threads by @ecoinometrics

:(