Does anyone here remember how the 2018 bear market ended? Is it any crypto OG that can tell us how it felt when a new bull cycle started back in 2015 after BTC finished its correction from the $1,000+ peak? I'm curious to read your stories...
I personally am in crypto for over five years now and although I can't consider myself an OG in this regard, I can say that I have already experienced two bull and two bear markets so far.
I have not played my game properly for either of these two cycles and "that's fine". No regrets, right? There's only one road and that keeps on going forward, no left and right turns, and definitely no turning back.
Everything in crypto spins in cycles, though, four-year cycles. I don't care what's on the road ahead, recession, more wars, pandemics, yada yada. The path is already paved and when you zoom out a bit on the BTC chart, it's only up from any point you may look at it.
The four-year cycles are easy to market, we have four years from bottom to bottom(2018-2022) and four damn years between top to top(2017-2021). Certain individuals might come on the way and say that this time is different(mostly during bull seasons), "we in a super cycle now", or that this bear market is going to last longer because of the recession, pandemic, yadda yadda.
Well we had a pandemic already and tbh the emotional impact of that has been way more severe than the recession or even the fears generated by the war, and still, Bitcoin managed to recover from its lows and top at $69,000 for that cycle. It didn't top at $100,000+ as many of us believed it would happen and we're probably two cycles away from a $200,000+ BTC.
But we had a staggering bull market in 2021 nevertheless and the rebound year(2020), the covid year actually, was more than decent. What's the point of all this ramble, though? Well, the point is that things in crypto are pretty simple, the market evolves in cycles and somehow looks like the charts are dictating events and not vice versa.
However, the halving is the fire shot for boom and bus cycles and not events around it. I don't care how much revenue Bitcoiners have, how much BTC is in circulation and all of that, that's just temporary draws and calculations, on a long-term perspective halving rules to me. Period.
Hence, we must pay attention to it, and what the chart from above shows us is that we're in quite the early stages of the halving cycles. In 2136 when the last having will occur miners will get 1 satoshi per mined block. Does that mean we won't have any miners securing the netwrok by that time?
No, it means that as time goes by incentives to mine Bitcoin will change, same as it will happen for incentives regarding being in crypto. We don't know if the market has bottomed yet and we shouldn't even care. The next halving is due in 2024 and no one can kill the bull market that it is going to trigger.
Dead simple. Meanwhile, whether BTC is at $16,000 or $50,000 the progress of the industry is not halting at all. It just came out today that Brazil regulators approved BTC payments in the country.
According to a recent report, Brazil’s Chamber of Deputies went on to approve a bill that regulates the crypto-verse. This bill had previously attained a green signal from the Senate. However, the Chamber of Deputies remained silent about the same since April.
At present, it requires the signature of President Jair Bolsonaro for it to become law. It should be noted that President Bolsonaro’s term ends on December 31, 2022.
Through this approval, Bitcoin and its counterparts will reportedly be recognized as an asset with a value that can be employed for payments.
source
Again, do you remember how the 2018 bear market ended? I don't and neither do I remember the top in 2021... I'm still here, though, you are still here too and we're on the way out into infinity.
Thanks for your attention,
Adrian