The whole number effect is evident here, see orange circles.
With a commodity in price discovery mode every four years, every four years traders sell bitcoin gains for whole portions of gold.
I would say if someone hodled 1 bitcoin through a three year crypto winter, then suddenly it was worth 1kg of pure gold, they might be tempted to do the same.
This informs my extrapolations, will be interesting to watch this play out.
I've included in blue another interesting pattern, where the price on the day of the halving makes the same Fibonacci increase every halving. Obviously not many data points, but something to keep watching as we clearly head toward this very same number again this year.
And to complete the Fibonacci analysis, the clear 0.618 fib level drawdowns are indicated in green, which did not align with the current cycle, may pick back up again.
With a commodity in price discovery mode every four years, every four years traders sell bitcoin gains for whole portions of gold.
I would say if someone hodled 1 bitcoin through a three year crypto winter, then suddenly it was worth 1kg of pure gold, they might be tempted to do the same.
This informs my extrapolations, will be interesting to watch this play out.
I've included in blue another interesting pattern, where the price on the day of the halving makes the same Fibonacci increase every halving. Obviously not many data points, but something to keep watching as we clearly head toward this very same number again this year.
And to complete the Fibonacci analysis, the clear 0.618 fib level drawdowns are indicated in green, which did not align with the current cycle, may pick back up again.
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