Michael Terpin

We're in number five.

Sorry, we're in cycle number five, fourth halving.

And so my addition to that is, yes, it goes up, but not in the straight line.

Between the halvings, which so far has been basically the perfect price of Bitcoin.

It's not too high, not too low.

You have four quadrants that are associated with human fear and greed.

And so I call them the four seasons of Bitcoin, which is what I originally wanted to call the book.

My publisher liked Bitcoin Supercycle, which is another part of the narrative.

So Bitcoin spring is the day of the halving.

You can see it coming a mile away.

That's when the seed of the new cycle narrative is planted.

And one day, Bitcoin miners go from being profitable to unprofitable, about 20% profitable on average to 30% unprofitable.

And yet the price doesn't drop.

It stays flat because if any miners are selling, usually they have financing at this point.

You know, there's somebody else saying, I see the price is going to go up.

I'll buy it up.

But they wait until there is movement to prove you're in a bull market before they really fumble in.

And that is the first day of Bitcoin summer.

Bitcoin summer is what I've named the day that the all time high is reached.

So it passes the high of the last cycle.