Each $BTC cycle yields smaller rewards.
We’re 952 days into this bull run. If you bought at the bottom in November 2022 at $15.5k, you’re up approximately 6.2x.
However, past cycles reveal a clear trend:
2015-17: 100x in 850 days.
2018-22: 22x in 1,060 days.
The payoff for HODLing continues to diminish with each cycle.
