The Countdown to the 2024 Halving
As Bitcoin (BTC) edges closer to its next block subsidy halving in 2024, we’re entering what many see as prime “buy the dip” territory. With just one year to go, momentum is building among key market figures who believe the patterns of the past will repeat. Like a seasoned stock broker at a casino — only with less glitter and more digital gold.
Understanding Bitcoin Halving and Its Patterns
Bitcoin’s halving events aren’t just fancy terms thrown around by crypto enthusiasts. These four-year cycles tend to bring both macro highs and lows to BTC prices. Not to mention, history has shown us that the macro low occurs slightly more than a year before the subsequent halving. This pattern has many seasoned investors feeling a tingling in their bones (or is that just the caffeine?).
The Thoughts of Market Gurus
Influential figures in the Bitcoin sphere, like Pete Rizzo, point out that one cannot ignore the potential scarcity that comes with each halving. Rizzo, celebrating the three-year anniversary of the 2020 halving, shared some enlightening charts on social media that illustrated the price trajectories leading up to halving events. His tacky yet insightful tweet reminded everyone that the world’s most valuable digital currency is designed to become increasingly scarce.
“Plan accordingly…” – Pete Rizzo
Timing the Market: Buy Now or Later?
Investor Alistair Milne took the conversation a step further, boldly suggesting that now is the ideal time to get into Bitcoin. His advice? “Don’t short when it’s dark green and be all in before it’s blue…” In plain English, he’s saying there’s a window closing for cheaper BTC, and the next ride upward could catch you off guard. Just like that time you underestimated your in-laws’ cooking.
The Halfway Market: Is It Priced In?
The ever-controversial PlanB, creator of the Stock-to-Flow Bitcoin price models, argues that the market still hasn’t fully appreciated the implications of the upcoming halving. According to him, about half of the participants feel that the correlation between past halvings and price shifts is purely coincidental. Wrong! Those past halvings have been like a ticking time bomb for BTC prices, and the tanks are just warming up for another round!
PlanB commented, “Halvings are key to S2F, but critics focus on auto-correlation between halvings and mistakenly conclude there’s no link.” Sometimes, the math doesn’t lie, but it seems some folks are not ready for a sequel to this bull story just yet.
This article is not investment advice. Approach your financial choices as if you’re on a tightrope — one misstep may lead to a spectacular fall.
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