"Bitcoin Bull Cycle Not Over... Only 63% Increase After Halving"

LEE SANG YUN

Summary

Bitcoin has only risen 63% since the halving, and there is still potential for further increase.
Strategic's continuous Bitcoin purchases will likely increase coin prices.
Macro situations like the Ukraine war ceasefire negotiations could positively impact Bitcoin and risk asset markets.

Analysis suggests that Bitcoin (BTC)'s halving bull cycle is not over yet.

On the 17th (local time), CryptoQuant contributor oinonen_t stated that "while Bitcoin still has potential for correction," he emphasized that "the halving bull cycle is not over yet."

He noted that "Bitcoin rose 686% in total until November 8, 2021, after the 2020 halving," while "since last year's halving, Bitcoin has only increased 63% compared to its peak." He continued, "According to Bitcoin's power law model and diminishing returns principle, price increases gradually decrease with each halving," but added that "since Bitcoin has only risen 63%, there is still significant upside potential."

He also mentioned Stategic's Bitcoin purchases and the ceasefire. oinonen_t said, "Strategic continues to purchase Bitcoin," and "this will increase the likelihood of Bitcoin spot price appreciation." He added that "macro situations like the Ukraine ceasefire are positive for Bitcoin and risk asset markets."

Meanwhile, today the United States and Russia began ceasefire negotiations for the Ukraine war in Riyadh, Saudi Arabia. U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov were among the attendees.

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