ndthl

Bitcoin halving pattern: 1 year of growth, 3 of pain

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Takeaway: It takes a year for the halving to take effect in the form of a massive spike, shown by the blue horizontal year long bars on the chart. Then, the next 3 years until the following halving, there is a drop and gradual start to the next rally triggered by the upcoming halving. We are at the peak after the 2016 halving, there will be a big drop to 2020's halving.

Detail: I did a comprehensive chart of BTC on Trading View using BK's latest video as instructions. I have put 3 vertical lines in, one for each halving (2012-11-28 and 2016-07-09) and one for the upcoming soft fork on 2017-08-01. I have also put a number of trendlines on, intersecting every time the 7 and 21 day trend lines cross the 77 day trend line . The two purple ones predict exactly the value of the 7 and 21 day trend lines on 2017-06-26. They are from 77 day trendline crosses on 2014-11-30 and 2014-12-12.

The reason why I made the chart was to see the effect of the halvings. It's apparent the first one resulted in a rally shortly after. For the second one it's apparent there was a rally shortly before. The people buying BTC are still practicing?
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