One of the big debates is whether the halving is the key driver of bitcoin price action or whether it is macro forces like liquidity.
Supply halvings:
https://m.primal.net/HNfH.png
Global liquidity:...
IF there is a correlation between liquidity peaks and halvings, the question is whether there could be a causal relationship, and if so, in which direction.
Liquidity affecting halving is not possible, as the halving schedule was effectively set out with the initial bitcoin code (2010).
A causal relationship in the other direction would be surreal and mind-blowing...
The most likely is just coincidence.
Liquidity affecting halving is not possible, as the halving schedule was effectively set out with the initial bitcoin code (2010).
A causal relationship in the other direction would be surreal and mind-blowing...
The most likely is just coincidence.
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