With just a few days to go, however, Bitcoin is currently down about 3.31% over the past 24 hours and around 6.51% for the week.
Santiment demonstrated that traditionally after each halving, a bull market took hold where price began to increase along with network activity, followed by a dramatic climax in price leading to an all-time high .
However, an extended bear market usually comes through the next mid-halving.
Woo believes the new unpredictable cycle will be dominated by a complex interplay between supply and demand, which may already be playing out according to Santiment’s findings that network activity is up at a much higher rate than the last mid-halving in 2018.