Santiment
June gloom takes on a new meaning in another 2022 down month
The market cap of Bitcoin (BTC) dropped another 33% in June, which is now beginning to numb the Twitter community. On the upside, many crypto traders who wanted out did so fairly aggressively from March to May. But, the less optimistic news is that the stagnancy in address activity may need to change for prices to get a running start on recovery. Unlike April and May, the altcoin pack didn’t struggle tremendously more than Bitcoin. BTC’s 33% drop was pretty middle of the road in terms of corrections. In a vacuum, crypto bulls would prefer seeing altcoins continuing to lag, pushing more traders back toward Bitcoin as a relative “safe haven.” Nevertheless, June was a tale of two halves. June 1-15 saw a massive 25% further downswing for Bitcoin. Comparatively, June 16-30 was looking up until ...
Why the Bitcoin ‘mid-halving’ price slump will play out differently this time
Some analysts believe the four-year market cycle is changing and that the halving schedule may no longer determine cyclical conditions as Bitcoin closes in on the mid point between halvings. The halving is when the amount of Bitcoin (BTC) rewards issued per new block mined is reduced by half. The next halving will happen around May 5, 2024, andl reduce block rewards to 3.125 BTC. According to author @Alerzio on the Santiment blog on April 4, “the important resistance on the way is $50K.” The blog stated that breaking this level by or around the next mid-halving on April 11 would cast off many doubts as to the possibility that the traditional market cycle has been broken. “If the price (stabilizes) above this level, then we can give more credit to the thesis that says: ‘this cycle is differ...
