A look back on the
ETHUSD
chart in relation to Bitcoin's halving dates can give a lot of perspective.
Previously, 43 weeks post Bitcoin's 2nd halving (9 July 2016), Ethereum took quite a big dip (-73%) before resuming its upward momentum following Bitcoins bull run cycle.
Now, 41 weeks post Bitcoin's 3rd halving (11 May 2020), Ethereum has taken another big dip (-64%). The current Macro fundamentals in Bitcoins current Bull Cycle are still strong even through a current corrective pullback. Ethereum's price movements are still heavily correlated to Bitcoin's as well. Ethereums corrective big dip happening also doesn't seem coincidental, more like cyclical. The convergence of these factors create a bullish scenario that is likely to play out.
Though the occourance of these large dips happening to Ethereum may be trivial (~42 weeks into Bitcoin Halving cycle), History doesn't always repeat, but it often does rhymes and this bull run has not fall short of that... yet?
NOTE: This is using Kraken's price feed data
ETHUSD
chart in relation to Bitcoin's halving dates can give a lot of perspective. Previously, 43 weeks post Bitcoin's 2nd halving (9 July 2016), Ethereum took quite a big dip (-73%) before resuming its upward momentum following Bitcoins bull run cycle.
Now, 41 weeks post Bitcoin's 3rd halving (11 May 2020), Ethereum has taken another big dip (-64%). The current Macro fundamentals in Bitcoins current Bull Cycle are still strong even through a current corrective pullback. Ethereum's price movements are still heavily correlated to Bitcoin's as well. Ethereums corrective big dip happening also doesn't seem coincidental, more like cyclical. The convergence of these factors create a bullish scenario that is likely to play out.
Though the occourance of these large dips happening to Ethereum may be trivial (~42 weeks into Bitcoin Halving cycle), History doesn't always repeat, but it often does rhymes and this bull run has not fall short of that... yet?
NOTE: This is using Kraken's price feed data