Is the bull run over for Bitcoin in 2021?
Let’s see what it looks like compared with the last two bull runs
First of all, we must agree that there is a cycle in every economy. We can say that it is consists of the bull phase where the price of an asset is going upward and the bearish period where the price is going downward.
That is a rule. What is going up must go down and vise versa.
The same applies to cryptocurrencies and Bitcoin.
In the crypto market, this cycle has a period of 4 years. The event that triggers the transition from the bearish to the bullish phase is the Bitcoin halving event.
Bitcoin halving event occurs after 210,000 blocks are generated, and that takes approximately 4 years.
In 2016, on July 9, the halving event occurs and the price of bitcoin was $646. Exactly one year later the price was $2555. That is 3.8 times the price from the halving.
Then a correction happens, and on December 17, a new ATH occurs. We saw the peak of the cycle with the BTC price at $19,266.
That is a total of 29 times the price from the halving event.
In 2020 on May 11, the last halving event occurs, with BTC price having a value of $8476. After one year the price went to…
