Comparing BTC 2019 and 2023 before halving
2 min read
It’s amazing how steady BTC the last 6 months has been. In roughly 9 months the BTC halving is expected to happen. Let’s compare where we were standing around 9 months prior to the BTC 2020 halving. The blue square is the time comparison with the current BTC chart this year.
2019: At this period in august 2019, around 9 months before BTC halving, BTC was 50% down on its previous All-time high and was holding around $10.000. From January 2019 till August 2019 it had a steady growth rate, which put positivity back into the cryptospace. The blue square is the time period compared to next image.
BTC Jan 2019 till may 2020 (halving)
2023: If we compare the blue square to this years period from january 2023 till now, BTC has the same trajectory as 2019. We can see that BTC has a steady growth from $16.000 to the edge of $30.000. If you compare this to the All time high its also is 50% down from November 2021. The onlything noticeable is that it hasn’t bottomed like previous years, what probably can be explained by big institutions entering the cryptospace in 2021.
Whats next: When we look ahead and see what BTC did after august 2019, it had a down pattern till halving. If we keep following the same trajectory it would mean BTC would have a steady decline before halving happens. Of course the BTC ETF could change the course dramatically, but BTC has a habit of follow old patterns.
Conclusion: If you are here now, you are early.
submitted by /u/steavus
[link] [comments]
