Halving is here
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So…
I think that many of us would agree that the bull run has started, right? ????
While I believe that the bull run has started, I also believe that many of the investors who participated in the last cycle have not returned to the crypto market yet. Furthermore, I doubt that many new investors have entered the market.
If you don’t believe me, then please see the following link. It shows the Google Trends for “Cryptocurrency,” “Bitcoin,” and “Ethereum” for the United States over the last 5 years.
As you can see, the level of interest in Bitcoin has increased quite a lot over the last 6 months, but the levels of interest in Ethereum and cryptocurrency in general has remained pretty flat. I assume that the growing interest in Bitcoin is due to the approval of the Spot Bitcoin ETFs, and the increase in the price of Bitcoin is probably due to institutional investors, not retail investors (like us).
Also, I encourage you to find May 11, 2020 on the Google Trends chart. This was the date of the last Bitcoin Halving. As you can see, very little happened immediately following this date, and the price of BTC was fairly stagnant, too. (You can check the historical price of BTC on CoinMarketCap.) In November 2020 (6 months later), however, the level of interest in BTC as well as the price of BTC really started to move upward. In another 3 months, the levels of interest in Ethereum and cryptocurrency in general began to pick up, too.
In summary…
Manage your expectations. History tells us that prices probably won’t soar on the day of the Bitcoin Halving. The Halving is a catalyst for future price appreciation, and the altcoins move after BTC.
What do you think guys?
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