BNC:BLX   Bitcoin Liquid Index
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I give you, BitX, which explains why Bitcoin was not able to reach 100k last cycle, and why it should this cycle.

Using the Halving Cycles Theory, we can determine strict time frames to abide by.

The Theory says that cycles operate in a 4-part, 4-year cycle centered around the date of November 28th.

At inception, price was much easier to move.

Bitcoin moved at a first-cycle pace of 100x from 10 cents to 10 dollars which took a quarter cycle (1 year).

BitX says that all moves will increase in time to achieve, by a factor of 2.

The second move also increased by 100x, to $1000. This took a half cycle (2 Years)

After the first cycle, where price could create more outstanding leaps and bounds, the increase factor diminished to 10x, where we are now.

It then took 1 full cycle to reach $10,000, the 10x multiple of the previous tier.

The reason last cycle was not able to achieve 100k, was that it now takes 2 cycles from the previous to reach 100k.

You can see that most cycles slightly overshoot their targets.

We can then even determine the time it would take to reach 1,000,000 which would be 4 cycles, or by late 2041.

Diminished returns are now accounted for based on history, 100k (and above) should finally be next.

Scheduled to come +/- 21 days from Nov 28th, 2025 according to my Halving Cycles Theory.

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