The new high after halving has arrived early, what is the difference from before?
This cycle differs in 3 main ways.
(1) Fewer corrections: Historically, cycles have seen dramatic corrections of 30-40% on the way to historical highs, but this time, the decline has been smaller, and the correction so far has not exceeded 25%. %. Due to this continued “all up, no down” behavior, many believe these corrections indicate that BTC is accelerating this cycle.
(2) Participation of traditional institutions: The addition of Bitcoin ETF has undoubtedly affected the flow of funds in this cycle. While ETFs make it easier for more traditional retail and institutional investors to invest in Bitcoin, there are concerns that these products could push up Bitcoin prices too quickly, and expectations for continued institutional inflows and wider acceptance of Bitcoin may It will push the Bitcoin market to peak early.
(3) Macro environment: With interest rates at their highest level in 23 years, many people are worried that an economic recession has arrived. There is no doubt that we are in a special macro environment. If the global economy deteriorates, people tend to liquidate risky assets. It’s worth noting that Bitcoin has never experienced a true global recession. (House prices have fallen, entities are losing money, and investors have no place to invest in the currency circle. It is a good place.) Similar to the outbreak of the epidemic in 2020, retail investors have money and no place to invest. A large number of currency friends join finance, join the currency circle, speculate in stocks, funds, and coins at home. )
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