Bitcoin may be about to reward the HODLers with a nice present
As we march through the holidays this year, bitcoin may end up paying a nice long term gift for those that were willing to hang on over the past 2 years.
If that's you, go ahead and pat yourself on the back.
Ever since bitcoin peaked in late 2017, it has been mostly downhill.
There was a nice rally to break the downtrend earlier this year, but apart from that it's been tough sledding for the bulls.
That may be about to change...
Yearly candles possibly indicating good things to come for the bulls
Looking at the yearly candle stick chart, we can see that bitcoin is very close to repeating a similar pattern during the last bear/bull cycle.
We had 3 years of up, followed by one year of pullback, followed by up...
Check it out:
With only 4 weeks left in the year, it looks very much like we are likely to close this year right where we should be.
With a solid gain.
To continue repeating this pattern, we would expect to see the next two years show very explosive gains.
Before finally being followed by a significant bear market after the peak two years from now.
Halving now 5 months away
A lot of this price action seems to be based around the halving events.
Roughly every 4 years the block rewards are cut in half, meaning the emission rate of new bitcoin created is cut in half.
That slows down the inflation rate every 4 years.
This latest halving will drop the inflation rate under 2% for the first time ever, below the FED's target inflation rate for the USD.
Stay informed my friends.