Post
Topic
Board Speculation
Re: Is Bitcoin set to RISE into the Halving?
by
pooya87
on 09/04/2020, 05:11:10 UTC
Do you realize the market just rallied 94%? And that the halving is one month away?

you are confusing recovery/bounce-back with a rally.
a recovery is when price rises AFTER a massive drop. it is similar to bubbles, they are unstable because the value has dropped way below the reality. you can never consider the bottom of such prices as the real low just like you can't call the peak of a bubble as a real high value. they both are fake and the result of an excited market.
as a result what happens after that overly excited state is the "correction" of the "mistake" not a rally.

with that cleared, what we had in the past weeks is a simple recovery where price comes back closer to its natural value. it can not be considered a rally even if it was a profitable process for some day traders.