The anticipated exponential Bitcoin bull market has yet to begin, as noted by crypto analyst Willy Woo.
In Brief
Willy Woo pointed out that the exponential rise predicted for Bitcoin according to the BTC price ratio model has not materialized just yet.
Cryptocurrency analyst Willy Woo He shared a post on the social media platform X, highlighting that the much-expected exponential rise of Bitcoin hasn't started based on the BTC price ratio model.
He further elaborated that the changes observed relative to the data suggest that this current market cycle might resemble a mix of the 2013 cycle, known for its heightened demand, and the 2017 cycle, where spot trading dominated. He also references 2020, a year influenced by regulatory changes that significantly affected derivatives trading. Bitcoin halving Willy Woo pointed out that the BTC price model he introduced incorporates elements from three different pricing models, including the VWAP price which is derived from on-chain investor transaction volume, the realized price which indicates the cost basis, and the CVDD price associated with veteran selling, often known as the \"bottom\" model.
The way the signal reacted in relation to the halvings implies this cycle could be a unique blend of the strong demand seen in 2013 and the spot-focused trading environment of 2017.
With the recent Bitcoin halving event, miners are now receiving reduced rewards, leading to market anticipation regarding price adjustments.
Last weekend, Bitcoin underwent its fourth halving event, cutting the block subsidy rewards from 6.25 BTC down to 3.125 BTC.
The market sentiment leading up to this highly awaited event had been quite optimistic until about a week ago, with several analysts predicting a price increase shortly after the halving was finalized. This optimism was partly driven by the cycle’s peak in 2021, even before the halving took place. In mid-March, Bitcoin achieved a new all-time high exceeding $73,000, attracting significant interest from both institutional players and individual investors. miners Bitcoin has a history of appreciating significantly in price during the six months following each halving event. There’s a palpable excitement about how the market will react to this halving event. Although the market cycle may be initiating earlier, the data still suggests that we haven’t fully completed the previous cycle.
John Glover, former Managing Director and now CIO at Ledn, notes that while many are focusing on the historical ramifications of halvings on BTC's price, there’s scant discussion about the timeline these effects typically follow. Historically, peaks in Bitcoin prices have been recorded between 10 and 16 months post-halving. The key takeaway is that patience is essential, although it’s often seen that many individuals fail to let their investments mature. Bitcoin surpassing Please understand that the information shared on this page should not be construed as legal, tax, investment, or financial advice. It is essential only to invest what you can afford to lose and to consult with an independent financial advisor if you have uncertainties. For more details, we recommend reviewing the terms and conditions alongside the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, but market conditions can shift without prior notice.
Alisa, a committed journalist with Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive landscape of Web3. With a sharp insight into emerging trends and innovations, she provides thorough coverage to educate and engage her audience in this swiftly changing digital finance realm.
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