Quote from: thecodebear on February 26, 2024, 07:51:22 PM

Bitcoin now mid-$54k. Gone up over $3k the past few hours. Currently just under 79% of ATH. Back in 2020 79% of ATH was about $15.8k and price didn't hit that until November of that year. Bitcoin halvings are about a month short of 4 years, so hitting this level at the same time this cycle would be in October, but it's February, putting Bitcoin's price about 8 months ahead of last cycle.

I don't think we're about to enter into the new-ATHs bull run like we were at that point at the end of 2020, I think we're probably still a few months away from $69k. But thanks to hype around the ETFs before they got approved, and the the billions of dollars coming into the ETFs starting to cause a supply shock as well as the hype in the spot market around that too just building on top of it, plus more and more people understanding the 4 year market cycle allowing more people/money to front-run the halving effect than ever before, we are seeing the Bitcoin market getting a very early start on this part of the market cycle.

It's definitely going to be an interesting year. The $3k boost today didn't even follow any news today, just the resistance finally breaking after holding Bitcoin flat for the past dozen days or so. It did happen right around when Saylor announced another 3k of bitcoin buying his company had done recently but those announcements never move the market anyway so that wasn't the cause. Just too much bullish momentum to tame bitcoin right now for more than a couple weeks.

well 8 months early is interesting . I am fine with the early It think we did the first ATH for 2020 around dec 17 2020. so 8 months early is April 17 2024 we go past 70k.

works for me.