A Bitcoin “event” like The Halving is fun, but it’s not all that exciting. There’s not even pizza. The only people who notice are miners who’s income gets cut in half (literally). Checkout my guide to How Bitcoin Works to understand The Halving better.
From an investment perspective, The Halving is a big deal. It’s the first domino. It kicks off The Cycle. Literally.
Last week, 6.25 new bitcoin were issued every (10 minute) block meaning the market had to absorb 900 BTC or ~$60M of dilution per day. And it’s been doing that for years. Then all of the sudden… the 840,000th block hits and now issuance is cut to 3.125 BTC per block, while demand stays the same.
Historically, this creates a “supply shock” that kicks off the crypto bull market. It doesn’t happen over night, it takes some time for order books to feel the squeeze. The last two cycles, bitcoin broke out of it’s previous cycle’s high ~200 days after the halving. That’s not till November 2024 if this cycle mimics previous cycles.
Yeah sure, we broke above $69k for a minute already, but it clearly didn’t stick. There’s speculation that things are changing and The Halving will be less impactful as issuance shrinks and BTC’s market cap grows. Makes sense, but I’ll believe it when it see it.
To the moon 🚀 — @GΞR฿Z Founder & Creator @ BitLift
The BitLift Podcast
A few weeks back I emailed out an offer to meet 1-on-1 and lots of you guys took me up on it. In this week’s episode of The BitLift Podcast, the team collected footage from our conversations of me riffing about The Cycle and chopped it together. I also dig into:
- This weekends "crash"
- Why these crashes will keep happening
- Profiting off crashes
- What "The Cycle" really means
- The Halving!
NEW BitLift Crypto Snips
I listen to a ton of crypto podcasts and started bookmarking important moments using Snipd to share with you guys on Instagram, TikTok and YouTube.
Keep Up With Crypto
What I’m reading, watching, sharing and keeping an eye on in crypto recently.