GM☕ #coffeechain

Is the market not mentally prepared to shoot past the ATH before the halving?

Ok, this is just thinking-out-loud, but could the self-reinforcing psychology around the cycles be holding the price back, at least until after the halving?

Obviously the market consists of countless participents with their own incentives, intent and psychology. But in the aggregate, is there a shared belief or collective conciousness in the market, that does not want to violate the prophecy of the 4-year cycle?

I believe at some point, the cycles will have to break. But could the expectation that they will still play out in a similar way, be enough to tip the scales so that we don't blast off until after the halving?

Of course, if the ETF inflows are of a certain size, this won't matter enough to hold the price back. But is there at this current juncture a reluctance to pay 70k+ for Bitcoin because it is not *supposed* to be this expensive at this point?

Whereas after the halving, if you pay 70k+ , that could seem more reasonable based on what everyone has "learned" from past performance?

Morning ramblings 😅