Quote from: Febo on Today at 03:38:28 PM

Quote from: bytebulls on July 09, 2020, 08:35:25 AM

When examining the issue of BTC’s current lack of price action, it is worth pointing out that if one were to look at the currency’s value movements at this exact point following its 2016 halving cycle, it would become quite apparent that the asset was behaving pretty much in the same way as it is now. In fact, it was a year and a half after its 2016 halving, around mid-December 2017, that BTC proceeded to reach its all-time high value of around $20,000.

Because of more people "knew" about halving, price was higher prior to halving. Then covid-19 economic problems come and put a bit more reality to Bitcoins price. And then halving come. So I believe if we compare prices we are right now about at the same range. Yes we are. Price of Bitcoin was around $600, so half of previous ATH at autumn 2016, few months after halving.

Right. We are still facing the Covid-19 problem around the world, and the number of infected people still increases in many countries, so people are still trying to figure out how to save their lives first. After the situation can slowly back to a new normal, I think the bitcoin price will start to increase, but first, the price will be back to $10k and the next high price. Bitcoin needs more time to grow, and it will happen in one night, so he needs to have more patience to see bitcoin price to start increasing.