Cycle education | A halving is a supply rule, not a calendar for price increases
A Bitcoin halving reduces the subsidy for new blocks. It does not halve the existing circulating supply or directly create buying demand. Prices are also affected by liquidity, demand, leverage, and expectations—and expectations may be priced in ahead of time. Historical cycle data is limited, so “how long it took for prices to rise in the past” should not be turned into a timetable for the next cycle. Studying cycles means preparing for multiple scenarios, not finding a countdown to guaranteed gains.#市场周期 #BTC
A Bitcoin halving reduces the subsidy for new blocks. It does not halve the existing circulating supply or directly create buying demand. Prices are also affected by liquidity, demand, leverage, and expectations—and expectations may be priced in ahead of time. Historical cycle data is limited, so “how long it took for prices to rise in the past” should not be turned into a timetable for the next cycle. Studying cycles means preparing for multiple scenarios, not finding a countdown to guaranteed gains.#市场周期 #BTC