Bitcoin is skyrocketing now, but this is clearly a different movement from the past. As you can see by looking at the chart, it rather declined until the half-life in 2020. But it has risen surprisingly this year. This is probably due to supply and demand in spot ETFs, and I think it is happening due to increased demand, which is different from the half-life period.
As I wrote the other day, the value of everything in the world is determined by supply and demand, and half-life only reduces supply volume. It is presumed that it is a different movement from the past due to the fact that heightened demand due to physical ETFs overlapped with that.
Bitcoin seems to have entered a new phase again. There is no value in predicting how far it will go, so I'm not going to mention it, but there is no sense of incongruity that prices will rise from the perspective of the world's supply and demand structure.
I personally think that was accelerated by spot ETFs. After this, I think it is quite possible that there will be an increase due to the normal half-life. If it were to disappear, there should be such a drop in demand, and there is a high possibility that it is another factor, so it would be a good idea to think about that again.
※According to my personal opinion, the guarantee is also...