‘What has Bitcoin ever done for mankind?’ – BTC’s lull irks investors

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Bitcoin’s price dynamics and historical patterns evoke hope and fear among investors.
Despite criticisms, BTC’s resilience and support from key figures affirm its investment potential.

After changing hands at $ 64K, Bitcoin [BTC], at the time of writing, was trading at $63K. These frequent shifts in the price dynamics have obviously incurred both hope and fear among investors.

However, as usual, Anthony Pompliano, a known Bitcoin maximalist, in a recent conversation with “Squawk Box” CNBC, said,

“Don’t get lulled to sleep by Bitcoin going sideways. The long-term thesis is as strong as ever.”

Where does history lead you?

Pompliano also noted that historically, there’s been a pattern where Bitcoin’s price rises leading up to the halving, then experiences a smaller increase or even a decline shortly after. He said,

“I think that the halving price action is exactly what we should have expected. Historically, it runs up about 19% a month before halving and then it only goes up about 1 or 2% in the month after the halving.”

Adding to the fray, Layah Heilpern said,

Source: Layah Heilpern/X

This highlighted that, in the world of cryptocurrencies, success often depends more on staying invested in the market for a long period rather than trying to predict the perfect time to buy or sell assets.

Should you buy or sell BTC?

All this brings us to a question – Is Bitcoin a good investment option?

Remarking on the same, Ohio State commencement speaker, Chris Pan, in an event suggested people should buy BTC to protect their purchasing power. He said,

“I see Bitcoin as the very misunderstood asset class.”

This was further confirmed AMBCrypto’s look at The Block’s on-chain analysis, which showed a clear uptrend in Bitcoin’s daily transaction volume, signaling bullish sentiment.