The Macro backdrop is obviously much different this cycle to that of prior cycles, but nevertheless, let's look at the Bitcoin cycle and where we are: 🧵
1/ Bitcoin is 1200 days since the previous halving.
During this period, Bitcoin has historically consolidated. 2/ Day 1276 is highlighted as it was around the time in both prior cycles, that we saw a move higher in advance of the halving
- Smart money buying the rumor.
At the same time, we also saw miners accumulating ahead of the halving.
Mar 28, 2023 • 23 tweets • 6 min read
Thread 🧵 1/22
Recently @CathieDWood and @balajis both made claims that Bitcoin could reach $1mm in the relatively near future.
I wanted to ascertain how realistic these may be based on some modeling.
Let's begin 👇
2/22
When using Days from the Bitcoin Halving (where the inflation rate of new Bitcoins is halves); we can see that Bitcoin peaks around 368-550 days post halving and then bottoms 779-914 days post cycle.
