What are you talking about? It's a mathematical certainty that each halving is less significant than the last one. Don't you realize that transaction fees have to take the place of the block subsidy?
The stock to flow model has been thoroughly debunked.
Gut feeling. Rationality would agree with your point. But humans aren’t rational. The Lindy Effect is underway. Macro conditions are vastly different (worse) than previous halvings. People are looking for an escape hatch and bitcoin looks more and more like the correct solution. Could be wrong, maybe I just wanted some hopium. 🤷🏼♂️
