Data source: BGeometrics.com · chart & styling by DurdenBTC.
What This Chart Shows
Bitcoin’s issuance halves roughly every four years, and each halving has historically kicked off a major bull cycle. This chart overlays those cycles by indexing each one to its halving: every line starts at 1× on halving day and tracks the multiple of that starting price from then on, with days since the halving along the x-axis. Because all cycles share a common start and timeline, they become directly comparable on a log scale — absolute price is stripped out, leaving only the shape and scale of each run.
- Genesis–2012 — the first era, from the earliest market price up to the November 2012 halving.
- 2012–16, 2016–20, 2020–24 — each completed post-halving cycle, indexed to its halving day.
- 2024+ — the current cycle, from the April 2024 halving to today.
How to Read It
Find the 2024+ line (the current cycle) and read across at the same “days since halving” as the earlier cycles to see whether this run is tracking hotter or cooler than history at the same point. The clear structural story is diminishing returns: each cycle’s peak multiple has been lower than the last as the asset has matured. Treat the older cycles as context for the current path, not a forecast — the timing and magnitude have varied every time.
Drag to pan and scroll to zoom; use the box-zoom tool to drag a rectangle around any region. The toolbar autoscales to fit, resets the view, or downloads the chart. Hover to read each cycle’s multiple at that number of days since its halving.
Frequently Asked Questions
What is the Bitcoin Performance Since Halving chart?
It overlays every Bitcoin cycle on one chart by indexing each to its halving day (starting at 1×) and plotting growth against days since that halving, so the cycles can be compared directly.
Why index to the halving?
Each halving has historically preceded a bull cycle. Indexing to the halving removes absolute price — which has grown by orders of magnitude — and leaves only the shape of each move, making cycles comparable on a log scale.
Does this predict the current cycle?
No. Past cycles are a reference, not a forecast. Each cycle has been less explosive than the last, so the chart is context for how the current path compares, not a projection.