Only Up From Here – 274

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It's starting to change we're starting To see normal people get interested Again uh as you know we're completely Expecting it I mean if you've been doing This for a couple Cycles you're fully Aware of the fact that you're going to Have a bad down year and then three up Only years more than likely right and It's just a a constant up and down and That is the same with everything in life It's just a little bit more accelerated With cryptocurrency which is kind of Funny so goes the truth is if you think About buying Bitcoin right now the Opinion says it might not be the best Time to make a sizable purchase despite The fact that we might see spot Bitcoin ETFs approved in the near future and it Goes on to say why let's start by by Looking at bitcoin's Price action during Periods leading up to the last two Bitcoin havingsex is due in late April When block 840,000 is expected to be Mined Bitcoin having Cycles last for About 4 years 210,000 blocks and Produced at approximately 10 minutes per Block at the commencement of each cycle The block subsidy reward that Bitcoin Miners receive is cut in half which Triggers a Bitcoin Supply shock Historically bitcoin's price has R risen Dramatically during the year and a half That follows the having the price then Tanks and trades in a range for the

Cycles other 2 and 1/2 years from late 2013 until mid 2016 when the second Having occurred bitcoin's price fell From $1,166 to $156 it then rebounded to $780 67% of its previous all-time high Before falling 40% to 472 in August of 2016 the 472 price point marked a local Bottom just 1 month after the second Having took place from late 2017 to 2018 Bitcoin's price fell from 19,6 166 to 3,150 before rebounding to 13,880 70% of the previous all-time high By March 2020 its price had fallen 72% To 3,867 3,867 marked a local bottom for 2 months Before the third Bitcoin having which Occurred in May of 20120 another 2 and 1 half year period That precedes a Bitcoin having is coming To an end this period began in late 2021 And will end in April of 2024 when the Fourth having is scheduled to occur During this period thus far bitcoin's Price has fallen from 69,000 to 15522 before rebounding to 44759 65% of the previous all-time high This 65% rebound the current one is Awfully close to the 67 and 70% rebound We saw in the two previous cycles and so The big question now is Will bitcoin's

Price retrace significantly leading up To the next having as it has leading up To the other two previous having if Bitcoin's price were to fall 40% from These current levels as it did in 2015 And 2016 we'd see bitcoin's price at 26855 as of writing it's approaching 44,000 if it were to fall for 72% as in 2019 to 2020 we'd see bitcoin's price at 12,532 I've seen very few people mention Such numbers in the wake of euphoria Bitcoin investors are currently Experienced so will this time be Different aren't we waiting for billions Of dollars to flow into B Bitcoin almost Immediately after the spot Bitcoin ETF Is approved Maybe so if we look at it from that Perspective right and we take into Account the Cycles how they affect it And a repeated pattern within Bitcoin Then you could say it's fully expected For Bitcoin to retrace Back Down Under The $30,000 Mark before we hit the Having in April of 2024 and once that having hits if we Contin continue the same cycle as always We will see an up only for about a year And a half going on after that with a Really big Euphoria phrase or phase Excuse me about six months after the Having which would happen sometime in October of 20124 with peing starting you Know going into the new year of 2025

Which I've talked about into exhaustion On this channel but we do have this Pending situ ation with Bitcoin spot ETFs and more people that have been Around for enough Cycles to understand This and this is where we start to get The question of will people actually be Selling off Bitcoin like they have in This these previous periods right before The having or will they be expecting This and keep the price levels higher Because they won't be selling off from The fear that happens because of the Price going down and I think that a lot More people are educated that are Participating within cryptocurrency that It may affect the way this cycle plays Out not to mention another thing that is A huge Factor when we start talking About the having cycle with Bitcoin is The amount of fees compared to the block Reward and as most have postured in the Past once we get to the point of fees Meeting the block reward what we will End up seeing is a settling of the Volatility of the market and the Bitcoin Coin price will then be a lot more Stable across the entire space because You have fees matching that why is this Important now well we kind of have a Perfect storm of not only Bitcoin ETFs And the having coming but we also have Ordinals which have greatly impacted the Amount of fees that miners are getting

Paid out in Block rewards and because The fees are being increased the miners Are not as dependent on the Block reward As they were in the past However it is important to note that we Aren't quite there of parity between Fees and of course the block reward as a Whole so I still think we have two to Three more Cycles before we really see The Bitcoin price start to settle out And we break out into the macro and out Of the traditional having Cycles that's Personally what I think however you Never know with Euphoria and ordinals Especially like we saw with nfts on the Ethereum side of thing in the previous Cycle how much that will actually impact Price but if we're talking about moving Into 2024 from the perspective of what will Be the trends what's going to impact Price and what should I be looking out For well you should be looking out for The popularity of ordinals and how much That brings up of course the fees in Comparison to the block reward you need To be paying attention to the Bitcoin ETFs and you need to be paying attention To minor selling off before the having So that they can of course pick up some More miners to then have more hash power So that they can make up for the having Loss there so that is all the things That you should be paying attention to

Moving into 2024 of course I'd like to Hear your thoughts about all this in the Comment section now you guys mind during The bare Market you made it through well At least maybe a half of you I know a Lot of you over here Didn't actually do it but the ones that Did I have a new shirt for you guys and It says I mined with the bear For the bear Market okay so if you mind With the Bears and you want to rep that You did mine during the be Market go Ahead and head on over to shop.on ofate Tech.com and the listing will be down Below I'll put it in live chat right now I have a sweatshirt there's a sticker if You'd rather have a sticker t-shirt Premium shirt all that Co cool stuff um Really like the new shirt I ordered a Few for myself and I just had that Design finished this week eventually It'll under on the YouTube channel but That takes a little bit of time so just Give it some time uh proceeds of course Go to supporting me in the channel so There you go and I thought uh we put Some work into it and I thought you guys Might enjoy It thanks for watching this clip from The crypto mining show you can check out The full episode here and don't forget To subscribe down here as well you can Also check out my crypto mining ecourse At son ofate tech.com where you can get

A free month of supporter status with a Purchase At sonof tech. locals.com also don't Forget to check out my merch underneath The video or at shop.on of.com I'll see You next Tuesday

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