Bitcoin is, at least historically, a cyclical asset. These cycles revolve around the ‘halving,’ where rewards for mining Bitcoin are cut in half, decreasing the supply of new Bitcoin available to investors. A huge aspect of previous cycles has been the rotation of capital from Bitcoin to altcoins. In the most recent cycle, decentralized finance (DeFi) experienced a massive boom, called DeFi summer. NFTs also became incredibly popular, with thousands being minted each day on a variety of platforms. The last halving was in April of 2024, and Bitcoin has since risen over 70%. Altcoins have significantly underperformed ... (full story)