miskBitcoin miners win legal battle to keep mum about energy use [US]
just_another_personThis is a loss for everyone. Fuck these clowns.
GiganBitcoin is currently at $57,000 and it’s up 144% in the last year. Haters gonna hate
TimeSquirrelYeah it's called a "dead cat bounce". Zoom out by about 7 years.
I don’t know how much you know about bitcoin, but 7 years ago it was worth $1,100.
That's not my point. I was talking about the recent price rise.
Every boom bust cycle so far (and there have been about 4 or 5 of them), you get an initial spike, followed by a second one, and then a long, drawn out "despair" period after a crash.
What you're seeing is the second bounce of a spike that has been ongoing since about 2019/2020. The "despair" phase is probably not too far off now.
Again, I’m not sure how much you know about bitcoin because the boom/bust cycles you’re talking about are reflections of the halving cycle, not dead cat bounces. The next halving is going to happen in April this year, and after that the price is going to go up even more. I’ve been through this before, I’m not worried about the despair phase but that’s not what’s coming next.
deafboyTrue, but keep in mind that the effect of each halving on price is smaller.
That makes sense, since each halving reduces the supply by a smaller amount. But it will still have an upward pressure on the price.