Summary
TLDR: Bitcoin’s price is influenced by macro factors, not just halving events. Its outperformance after the previous halving was due to loose monetary policy and fiscal stimulus during the Covid-19 pandemic.
Key Points
1. Bitcoin’s price is influenced by macro factors and other external influences, not just by its own internal workings.
2. The previous halving in May 2020 saw bitcoin outperforming due to loose monetary policy and strong fiscal stimulus in response to the Covid-19 pandemic.
3. It is important to consider the broader economic and political landscape when analyzing bitcoin’s price movements and performance.