For the current market in the currency circle, every halving of the pie is a burst of chicken blood that adds fuel to the flames, especially the dozens of times of increase before and after, which is very exciting.

Since the third halving of the pie in 2020, as the number of people in the industry, market attention and the completeness of supporting infrastructure have all improved significantly compared to before, the pie is no longer niche and has begun to compete with more people. Linkage with the outside world.

The pie is halved three times

Before the first halving, people in the circle were concerned about the possibility of the big pie becoming electronic cash.

During the second halving cycle, everyone’s focus became the properties of payment instruments, which subsequently triggered the fork of BCH.

In the third halving cycle, the pie has become an alternative asset, and the entry of institutions and traditional institutions has become the main theme.

Still remember the famous 3.12 incident in the currency circle, which happened two months before the halving of the pie. The currency price halved in one day, liquidating 20 billion RMB, and the overall market value evaporated by 55 billion US dollars, accurately achieving the "price halving"

In the same year, as Musk changed his Twitter background image to Bitcoin to "bring goods", Dogecoin's public support, as well as the prosperity and development of the Ethereum Defi ecosystem, were also the boosters that triggered the last bull market. Since then, after the pie was halved in May, a new bull market cycle has begun, and Bitcoin has gone straight to 60,000!

Judging from historical experience, it is very likely that a new bull market cycle will start after the halving. However, with the current size of the currency circle, the possibility of the next bull market increasing the market value by 10 times is becoming smaller, but a breakthrough of 60,000 is still worth looking forward to.

Of course, whether the ETF is passed or not and the emergence of the cyclical halving of the market, it will be the main narrative in the next year. With the incremental funds brought by the popularity of the inscription market, the ecology of Bitcoin has become richer. This makes users’ view of the pie less simple again.