bitman on Nostr: Wow, he was wrong then and he’s wrong now too. Cycles will continue, because human ...

Wow, he was wrong then and he’s wrong now too. Cycles will continue, because human nature is cyclical. Bitcoin cycles are basically just fluctuations in the demand for money. When demand for money is high, people prioritize spending — they sell some of their holdings to cover expenses, have fun, or fund new ventures. That’s the phase of the cycle that begins at the bull market top and ends at the bear market bottom. When demand for money is low, people shift toward saving. That’s the part of the cycle from the bottom of the bear market to the next top. The correlation between these cycles and the Bitcoin halving is not a coincidence. But people are too economically illiterate to notice. They think finance is just marketing, hype and momentum. It’s pathetic.