Pierre Rochard, CEO of The Bitcoin Bond Company, has declared that Bitcoin’s typical four-year market cycles have come to an end. This bold statement aligns with the view recently shared by CryptoQuant CEO Ki Young Ju. 🤯 💥
Why halving loses its significance
Rochard argues that halvings no longer significantly impact Bitcoin’s supply. The historical effect of reduction in block rewards was often viewed as the main driver behind bullish and bearish cycles, however, with 95% of bitcoin already mined, daily issuance has little influence on the existing market float.
Furthermore, the vast majority of new coins now being sold are coming from long-time holders (OG whales), not miners. This means that prices are primarily influenced by these whales’ personal decisions, as reported by UToday. 📈,
Institutions replace retail
Rochard highlights a shift in demand where institutional investors have replaced speculative retail traders. ETFs and corporate treasuries are now driving price increases more than ever before. 💪.
Read the original article on U Today for more insights.