• The Roundup
  • Posts
  • Riding the Waves: How Bitcoin Cycles Shape the Market

Riding the Waves: How Bitcoin Cycles Shape the Market

🌊 Understand how shifts between bullish and bearish trends reveal market sentiment.

Author

Hector Alvero
October 29, 2024

Welcome to the Rhino Roundup, your weekly dose of industry news, platform updates, educational content, and fun memes in the world of Bitcoin.

Rhino Feature Spotlight 📢

With Rhino, tracking your transactions has never been easier.

Under the Transactions tab, you’ll find all activity within Rhino, organized and easy to navigate.

Sort by On-chain or Lightning, transaction type (deposit, withdrawal, referral, gift card, etc.), date, and asset—everything you need for personal records or taxes is right at your fingertips.

Featured Article

Understanding Bitcoin Cycles: Definition and Historical Overview

A Bitcoin cycle is the recurring pattern of price rises and drops over time, usually aligned with Bitcoin’s halving event. Since 2009, Bitcoin has seen several notable cycles:

• 2011: Rose from <$1 to >$30, then fell to $2.

• 2013: Climbed from $13 to ~$1,100, dropping back to ~$200 in 2015.

• 2016-2017: Surged from ~$400 to ~$20,000, then declined to ~$3,000.

• 2020-2022: Hit ~$69,000, later retracing to ~$15,000.

• 2023-2024: Peaked above $73,000, settling around $60,000.

The Role of Bitcoin Halving in Market Cycles

Bitcoin’s market dynamics are significantly influenced by its halving events, which occur roughly every four years and cut the block reward in half. With a finite supply of 21 million coins, these halvings reduce new issuance, reinforcing bitcoin’s scarcity and contributing to potential value appreciation.

In the past, halving events have frequently sparked bull markets. For example, the 2012 halving preceded bitcoin’s 2013 rally, while the 2016 halving preceded the massive bull run of 2017.

Want to explore how Bitcoin’s cycles can be a useful tool for understanding the broader trends in the market? Read the full post here to find out more.

Meet the Team

Interested in visiting Bitcoin country?

Our COO, Hector Alvero, will be speaking at the Adopting Bitcoin 2024 conference in San Salvador this November. He’ll share insights from over 15 years in education on effectively spreading Bitcoin knowledge. Come meet Hector and experience the beauty of El Salvador!

Get your tickets here.

Meme of the Week