Bitcoin: post Halving price analysis
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Ok, lots happening in The Bitcoin world, here is a brief update. First of all, overnight we saw Bitcoin dropping, allegedly on news of The Israeli attack on Iran. Many say this proves Bitcoin isn’t a safe haven asset, and in case you think they have a point (I doubt they own any Bitcoin), they seem ignorant of the fact that Gold, generally accepted as a safe haven asset, also dropped. Also most concerningly (for their credibility) they seem to be unaware of Bitcoin’s price history. Specifically, a drop of 6% is well within two standard deviations, or 75% of all observed price changes
so this drop wasn’t really anything to be concerned about. If you’re not statistically inclined (and that’s ok), the single largest one day drop we noted over the period April 20th, 2014 to April 13th was 40.7% on March 12th, 2020. And even now, as the chart below notes,
we see Bitcoin advancing. And something else happening today is the Bitcoin Halving. We’ve talked about it before, and in case you’d like to get more details about what a Halving…
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