Bitcoin halving—why does someone always say, 'This time is different'? Bitcoin has gone through 4 halvings so far: 2012, 2016, 2020, and 2024. In the past cycles, big market moves did happen after each halving. After 2012, BTC went from a few dollars to nearly $1,000. After 2016, it climbed from a few hundred dollars to around $20,000. After 2020, it surged from around $8,000 to $69,000. So, the 'halving rally' has gradually become one of the most familiar narratives in the crypto space. But here's where it's easy to get it wrong: halving doesn’t mean 'Bitcoin is going to pump.' What it actually changes is the number of new BTC miners receive daily. With reduced new supply, whether the price can keep rising depends on whether there’s enough market demand to absorb it. So, with every halving, the real question isn’t just 'how much did Bitcoin pump after the last halving?' You also need to look at: - Whether new capital is flowing in, - Whether market demand has changed, - The macroeconomic environment, - And where the market stands at that point in time. History is valuable for reference. But if you assume 'it pumped last time, so it’ll definitely pump again,' that comes with risks. It’s been two years since the 2024 halving. What do you think—does Bitcoin’s halving cycle still hold weight?