It is not surprising to see that the percentage gain has decreased with each cycle given the overall market cap increase each time. It is harder to generate such large percentage gains on an overall larger asset.
Regardless of overall gains though, the amount of time spent carving out a bear market is so far quite comparable. In the 2013 cycle, the bear market low came 779 days after its halving. In the 2017 cycle, it was 891 days.
We are currently 886 days through the current halving cycle.
So whether we have already bottomed or not this cycle, we are now likely a good way through the bear market from a time perspective.
Food for thought as many participants quit and will likely return when the price of Bitcoin is much higher! Accumulation now and over the coming months has the potential to produce outsized returns in the future for those who stay the course in this market.
Take care and speak again soon,
Philip Swift
Founder of Look Into Bitcoin.
|