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Bitcoin May Not Have Bottomed Yet. Here’s Where the Data Says it Could
During bitcoin’s 17-year existence, the price has moved in long waves. Roughly every four years, it climbed to a euphoric high, fell through a painful decline to a low, and then began to recover. This rhythm has historically been anchored around the quadrennial halving, the event that cuts regular supply issuance by half. Despite the declining impact of successive halvings, and many prognostications of a “supercycle,” the empirical data yet again shows evidence that the 4-year cycle is intact. This report is about those waves and the emergence of a pattern that has held across bitcoin’s modern history: each ... (full story)