Hey guys I have taken a little time to write a few of my thoughts. I do this from time to time and thought this would be a perfect time to do it as Im on my new laptop and want to learn to type better on it. But the reason Im writing this today is Bitcoin. Wow. Despite the ugly year we all know as 2020 Bitcoin has been shining despite the negative sentiment. Your average person would definitely say 2020 was awful. But for Bitcoin investors it was good in that respect.
We dropped to 3800 approximately on March 13 2020. That dip was a blow to morale as we dropped over 50% over all. I know I wasnt the only one buying at that point but I do remember telling anyone that read my analysis I felt the drop to 3800 was a gift. An opportunity to buy at 3800 before we took off. I mean the halving happened within a couple of months after that plunge to 3800. The halving has always produced a pump. Supply and demand. The supply is cut in half for the mining rewards which basically means the new Bitcoin flowing into the market is half of what it was 1 year ago.
So I mentioned supply and demand. That is why I believe Bitcoin rises after a halving event. The design of Bitcoin is brilliant. And one of the few predictable events is a halving pump. We only have 3 halvings to go off of and that isnt much. But 3 repeats of a pump after around 6 months is all I need to see. I certainly wont remortgage my home to invest but I will play the halvings as long as I can. But what is different about this rise to 19900 vs the rise in 2017? Lets talk about…
