Halving

For anyone trading or investing in Bitcoin, a familiar indicator can become a dangerous comfort blanket. Josh Molnar’s Bitcoin Runs on a Clock argues that classic cycle signals—such as MVRV, the Mayer Multiple and Pi Cycle Top—have weakened as Bitcoin’s price swings become less extreme. Thresholds calibrated to earlier cycles may consequently stop triggering, leaving investors waiting for a sell signal that never arrives. The practical takeaway is that a strong historical record does not make an indicator’s settings permanent. If the market changes, the dashboard needs to change with it.