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“While the Fed has pushed out the first rate cut to (possibly in) May or June, inflation is coming in lower, and growth is holding up,” said Thielen in his Friday report. He also took note of the U.S. presidential election cycles which coincide with the Bitcoin halving years as historically being bullish for prices. Specifically, bitcoin gained 152% in 2012, 121% in 2016 and 302% in 2020, or an average of 192%.