The 'Loss' After Bitcoin Halving - Why This Time is Different?
This time's Bitcoin halving has truly surprised people. In the past, after halving, Bitcoin's price would always soar, but this time, the price only increased by 46%, far below historical performance. Macroeconomic uncertainty and political turmoil have reduced investors' risk appetite, leading to disappointing market performance.
This also exposes the 'maturity' of the Bitcoin market - price volatility is gradually decreasing, and the MVRV indicator is also declining, with returns no longer as wild as before. This means that Bitcoin is no longer a highly volatile speculative asset, but is slowly becoming a more stable financial asset.
Although prices currently seem bland, some analysts believe that Bitcoin will reach new heights in 2025. However, before that, it may need to go through a period of 'healthy adjustment.' Although this halving is lackluster, it may be accumulating strength for the next rise.
