Since the first Bitcoin block was mined the miners pie is being chunked in half every four years, and with every halving the price only went up for several years after, leading basically to strong bull markets each halving. This year we have another Bitcoin halving which will occur in 34 days and a half from now, and according to the calendar that should be around May 13.
Not much time left to buy cheap Bitcoin if you're into such investments, but hey, who said $7k is cheap and who's there to guarantee it won't fall further? Nobody... It's just my assumption, one that might fail as my bull market one has failed a couple of months back, or one that could make me rich... or neither.
What actually triggered Bitcoin's fall from its $9-$10k safe haven status was its correlation with almost other assets that this world has to offer, and what dragged them all down was the Coronavirus pandemic that has terrified the world and has transformed our homes into self imprisonment cells. I don't know if all this was orchestrated as David Icke claims, but if you have a lot of power and money and you missed a train, you can pull it back to the station, hence the orchestration conspiracy theory makes some sense and some might have really missed the train. Not you and I of course. The ones spinning worlds.
Bitcoin halving will occur by mid May, but you know what is gong to happen in mid May? The lock down will end and humanity will gradually get back to its daily stressful and more painful lives, probably with some liberties being stolen while everybody's inside as well.
From what I heard and read, Romania is planing in ending the lock down on May 16, but it might as well be prolonged, Romania however is not a leading country in Europe or the world but it's where I currently live, but Germany is planning to open, or should I say reopen, most of its businesses gradually after their Easter which is four days away, and by mid May they plan on getting full steam with the country's economics. Austria seems to follow the path and probably many others will do the same.
It started all in China, and Bitcoin might have been born in China... Over 60% of it is mined there, Satoshi Nakamoto sounds Chinese to me, and if all the big miners are originated in China, and during the current crisis most of the small mining farms have closed business thanks to the pandemic, as well as other types of businesses, who's gonna profit from this...?! The Chinese, and not only.
Again, it started in China, it got spread over from China, and China seems to recover very well after the pandemic and to be honest, it does quite fast... They had their communist draconian ways of dealing with the virus, but they're now back on the streets, wiring the economy back to its cheap labor power and who knows how much of history's endless pages will this event claim after all.
What I want to stress about as the main trigger to a new bull run, or hopefully bull market, for Bitcoin, is the sudden turn of events. The virus kicked us with all of this out of nowhere and out of a sudden, Bitcoin claimed the same pace for its fall, and my intuition tells me that things will get back to normal in the same manner.It also tells me that we won't see BTC under $10,000 for too long.
Bitcoin was born soon after the 2008 financial crisis which was actually a rich crisis, and we all know what followed for almost eight years for Bitcoin. Now, if the world gets back to normal gradually, starting mid May, when the halving will occur, then... you do the math. Born out of a crisis, getting its explosive shinning light out of another.
The question now that might pop is why will the regular, probably unemployed, humble human being that suffered that much during the pandemic buy such an asset? He won't, the rich ones will do that triggering FOMO for at least one year or so, and by the time the average Joe will have cash to purchase such an asset, that will for sure be advertised all over the Oligarchy owned media, and it will probably be over $100,000, Joe affording to buy too few for too much, while the crisis buyers will sell. It always happens this way.
First the rich are having dinner and afterwards the others. For most of us, the normal ones, will take a while before we wake up from this nightmare, and we start being productive and profitable, hence I believe that the price trend will change near the halving but, will not be driven by retail investors. It will be institutions that will buy it first, especially after realizing how weak and fake fiat is, and when bags are loaded it will be promoted and recommended to hungry mouths that will not afford to purchase much of it, and definitely not at, or under, $7,000.
That's the correlation that I see with BTC and Coronavirus, and this is how my intuition tells me things will turn around and move forward after the lock downs are gradually being lifted. How good is my intuition we'll see, but till then would like to read your thoughts on the matter.
Thanks for attention,