Bitcoin is lagging behind its historical halving cycle. Can it catch up?
Although the halving has already passed, Bitcoin's current performance is still below the average level of previous cycles (2013, 2017, 2020). As it stands, $BTC has not yet achieved 'keeping up with the pace'.
This deviation also raises a question:
Is this cycle just slow to warm up, or are we experiencing structural liquidity changes, shifts in investor behavior, or even macro headwinds?
Historically, a strong rally post-halving often kicks off in the later stages of the cycle. But this time, $BTC is clearly in the 'lagging zone'.
So, how much longer will this cycle take to return to the average trajectory?
Will it explode in the second half of 2024? Or is this cycle itself rewriting old patterns?
