Comparing the BTC Halving Event in 2020 to its 2016 Predecessor
Summary
Initial 6 months after each event, the % gained over length of time is eerily similar.
There appear to be different structures of uptrend after each the 2016 and 2020 halving events, but the percentages and over the length of time are noticeably similar in their result.
As it stands, it's agreeable the numbers are at least similar. BUT, If Bitcoin can touch $16k by October 31, it will be nearly EXACT to the 2016-2017 bull breakout and ensuing bull run thereafter.
Should that happen, look for a pullback similar to 2020s halving even level of the $10k-$12k range, which is in alignment of what we saw in 2016 before continuation to ATH.
Initial 6 months after each event, the % gained over length of time is eerily similar.
There appear to be different structures of uptrend after each the 2016 and 2020 halving events, but the percentages and over the length of time are noticeably similar in their result.
As it stands, it's agreeable the numbers are at least similar. BUT, If Bitcoin can touch $16k by October 31, it will be nearly EXACT to the 2016-2017 bull breakout and ensuing bull run thereafter.
Should that happen, look for a pullback similar to 2020s halving even level of the $10k-$12k range, which is in alignment of what we saw in 2016 before continuation to ATH.
Eric Thies
