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Joe Burnett raises the possibility that cryptocurrency market cycles could be driven by the supply and demand imbalances created by halvings.
He questions whether these halvings are the main factor behind the recurring bull runs of adoption and the subsequent bear markets in the sector.
Burnett previously noted that bitcoin currently trades below its all-time high from five years ago, echoing conditions seen in 2022 here. He has also described bitcoin’s return to normal volatility after reaching a record high about eight months ago here. These observations come as the market debates the influence of scheduled halvings on price cycles.