An Ode And Forthcoming Obituary To Bitcoin’s Four-Year Cycle
A reflection on Bitcoin’s four-year market cycle—and how a healthy block space market will eventually kill it for its own good.Dilution-proof, April 28, 2021On January 3, 2009, Satoshi Nakamoto launched the Bitcoin network by mining the first block (the “genesis block”) in the Bitcoin blockchain. Today, a bit more than 12 years later, the network stores over $1 trillion in value and transfers more than $20 billion in on-chain volume on a daily basis. To get there, bitcoin went through multiple boom and bust cycles in which it was praised to the moon and declared dead many times over—every....
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According to the mainstream press, Bitcoin has died... Many, many times. That's why Jordan Tuwiner started Bitcoin Obituaries - to compile the many obituaries which have been written about the nascent cryptocurrency Bitcoin. He had noticed a preponderance of articles claiming Bitcoin would soon be gone. "I wanted to collect the articles and make a monument showing Bitcoin's resilience. I knew the site would be funny, but also shows Bitcoin's strength over time," Tuwiner told Cryptocoins News. Tuwiner's favorite obituary is called "So, That's the End of Bitcoin Then". The obituary states:....
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
As bitcoin and a number of crypto assets have dropped in value during the last two weeks, its seems that everyone’s hope for six-digit bitcoin prices has become unattainable. However, year-to-date, bitcoin has risen more than 150% in value and despite the rise, skeptics and critics continue to assume bitcoin is dead. In fact, the infamous bitcoin obituary list indicates that 2021 is tied with 2019 for having the third-largest number of obituaries in a year.
Bitcoin Obituaries: 2021 Is Now Tied With 2019
On November 10, bitcoin (BTC) tapped an all-time price high at $69K....
Bitcoin (BTC), the reigning king of cryptocurrencies, is on the cusp of an exciting phase, according to prominent crypto trader Jason Pizzino. In his latest YouTube video, Pizzino delves into the intricacies of Bitcoin’s four-year cycle and shares his belief that the digital currency is unlikely to revisit its previous cycle lows. This analysis is […]
Looking at different metrics can help determine bitcoin’s place in the traditional market cycle and how macroeconomics can impact the bitcoin price.