Bitcoin halving and the Bull market: Now, it's just a waiting game.

Bitcoin is now close to $70K. You can say that its an all time high for BTC.

I am not too excited, to be honest. Because BTC's next halving event in 2024 has not taken place. For the price to get all time high even before halving is kind of weird.

Would it be a buy the rumour, sell the news event when halving actually takes place? No one knows, but that is a probability.

What is the chance of it going even higher after halving due to the supply crunch? There is a chance too, given that the world has started to open its arm for bitcoin ETFs. That simply means many would be able to include BTC as an investment option without the need to store BTC themselves, taking away fear of lost keys and bitcoins if they had to store it themselves.

If bitcoin continues to rise after halving, then the bull market will be in full swing. We might see the previous high indistinguishable from the lower prices. Simply because no one will care about the previous prices as chances are, we might not return to it.

In my mind, I painted the price action like the one shown below.

In my own case, I am just playing the waiting game. I have accumulated 0.1 bitcoin for myself and I think its a bet for the phenomenal upside. I will just wait.

Just gonna hodl for 10 years and see what happens!

I guess no harm done since the amount is so little to me. But if bitcoin receive massive global adoption just like what Michael Saylor predicted, then holding even 0.1 BTC can be a big deal beyond imagination.

Have you got at least 0.1 BTC? If you do, do you plan to hodl? Come sit with me as we watch what happens in the future...

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Disclaimer: This is not financial advice, and you should always do your own due diligence before investing!

Posted Using InLeo Alpha