Halving is a well-known parameter, not a source of surprise.
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The halving is often perceived as a standalone event that 'triggers' market growth.
This is a convenient point of focus, but it simplifies the real picture.
The key mistake is to attribute causal power to the halving. In reality, it is merely an element of a pre-known emission mechanism. Its parameters are transparent, predictable, and have long been embedded in the market model.
The key mistake is to attribute causal power to the halving. In reality, it is merely an element of a pre-known emission mechanism. Its parameters are transparent, predictable, and have long been embedded in the market model.
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