Back To The Daily Grind
The weekend is over, the daily grind can begin again and it is time to get up to date with the latest crypto news. Do you also have a fixed moment during the week when you look beyond just your portfolio, or do you try to keep track of everything every day? At least not me, that's for sure.
The news that struck me first today was that elections are scheduled for again in El Salvador. You would forget that there is another country working towards elections now that all eyes are on the American elections this November. The battle between Biden and Trump is being followed all over the world, but is it perhaps more interesting for crypto to see how Nayib Bukele is doing in the polls in El Salvador? Well, the answer to that is, that he's doing great. He is currently leading in the polls with a percentage of more than 80%. So it seems that the population is happy with his actions, which is bullish for Bitcoin, despite his candidacy being called unconstitutional according to some lawyers. Bukele doesn't care about that, and it seems to me that we shouldn't do that either. However?
Now that we have started talking about Bitcoin again, it might also be nice to take a look at what the expectations are for this year. We all know we have a 'halving' year. April 2024. Gosh, that reminds me of the only other time I've experienced a "halving." The hype created around it made me believe that right after the halving there would be a magical price increase and that overnight my little bit of crypto would explode in value. Yes, you can laugh now, but I seriously didn't know what the effect would be and believed from the enormous hype from everyone I spoke to that it would happen overnight. Of course,, the disappointment was great when nothing had changed the day after the halving, and neither the day after that... Oh well, I was still 'a rookie', and barely knew what it meant to be busy. being with crypto, I had no idea about the Bitcoin cycle. In short, I had been blogging for a while but had not yet learned much about crypto and everything related to it.
I now know a bit more, I have read a lot, and my portfolio is also somewhat larger than it was then, but it is still difficult to estimate what will happen next. And above all, when will it happen again? However, Decentrader doesn't seem to have much trouble with that. And they predict that Bitcoin will set a new All-Time High in 2024. According to their analysis, it takes on average between 220 and 240 days for Bitcoin to set a new All-Time-High after the halving. If we assume that the next Bitcoin halving will take place on Friday, April 19, then for convenience I will add 220 days, which brings me to Monday, November 25, 2024. And if their analysis is correct, it could mean a very festive December. Now I have to say again that I don't attach much importance to this kind of analysis because another analysis talks about 175 days after a halving. So that could be a new All-Time-High around October 8, 2024. And this difference in analysis also directly indicates what every crypto investor has to deal with: timing the moment to cash in your profits is so damn difficult. But what I can conclude from these two analyses is that 2024 promises to be an interesting year. However, we will have to wait and see what reality will become because there are of course other things at play that cannot be anticipated in analyses.
I hope you all have a great week, and next week let's talk about what to expect from Hive. Yay, or Nay?