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Understanding Bitcoin and the catalyst of the crypto bull run

Here is the deal with Bitcoin. The network itself controls the issuance of Bitcoins, derived by consensus through all Bitcoin participants. Ever since Bitcoin was first designed, the following consensus rules exist to this day:

* 21,000,000 Bitcoins to ever be produced
* Target of 10-minute block intervals
* Halving event occurring every 210,000 blocks (approximately every 4 years)
* Block reward which starts at 50 and halves continually every halving event until it reaches 0 (approximately by year 2140)

So that being said basically what happens is as more people adopted it and as the fundamental value of it was realized as the halving’s get closer each cycle and more and more people start to know that the amount of BTC that will even be produced each year is getting cut in half and only the miners have access to it at that and there is less and less of it available to purchase as time gets closer to the halving, knowledgeable people start buying it up at its bottom and you will start seeing the uptick of volume on the charts followed by bullish trends and when the halving occurs it really takes off as more and more buyers and traders jump in because of basically the bullishness of it is getting noticed by more people and it just starts taking off causing a cascading effect of it gaining attention and adopted by more and more people and those people learn about all this other crypto and it just blows up for about 500 days until all the crypto is so hyper-inflated and over valued that the smart money takes their profits and the trends will start turning bearish and then crash. Profits are taken along the way from BTC and put into alts. That’s when BTC is trading sideways and the alts are running. This is only the middle of the bull run. It will get crazier as more and more people fomo in.

There are many charts and market top indicators to check out as well.

https://www.lookintobitcoin.com/charts/

https://glassnode.com/



View Reddit by Doug_E_LewisView Source

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9 Comments

  1. And to add to this, if every person on earth got an equal amount of BTC each would get roughly 0.003 BTC which is super cheap still even today. (180 dollars) I mean even if you are super against BTC why not just buy your fair share and see what happens in 5-10 years?

  2. What happens when the supply runs out? Who will mine and provide consensus for the blockchain transactions? And don’t answer tx fees as noone transacts BTC because it’s meant to HODL it.

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