Bitcoin

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 <p class="is-style-lead">Trader Peter Brandt challenges common beliefs on Bitcoin (BTC) <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> and the prospect of a US Bitcoin ETF.</p> 
 <p>Noted trader and analyst Peter Brandt has challenged the hype over two pivotal Bitcoin events: the forthcoming <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> and the potential approval of a US Bitcoin exchange-traded fund (ETF).</p> 
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    <p lang="en" dir="ltr">Three things I believe about Bitcoin<br>1. The inevitable OK of a $BTC ETF in U.S. will be non-event<br>2. BTC halving will be a non-event<br>Markets discount in advance<br>3. BTC's correlation to other mkts is a non-starter. BTC will be top of food chain. That's the only thing that matters pic.twitter.com/2l0CxAyZ4T</p>— Peter Brandt (@PeterLBrandt) July 27, 2023 
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 <p>The Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, a protocol tweak happening roughly every four years, halves the reward for mining new blocks. The next one is slated for 2024. Many Bitcoin fans see this as a significant price booster, likening it to supply-demand economics. They say that a decrease in new Bitcoin production could spur a supply shock and push prices up, citing past price hikes following <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>s.</p> 
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 <p>Brandt disagrees. He argues that markets already consider future events like the upcoming <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>. Drawing from his 50 years of trading experience, Brandt likens the <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>’s effect to incoming waves – its impact is likely already priced in.</p> 
 <p>The possible green light for a US Bitcoin ETF is another hot topic Brandt addresses. An ETF, specifically a spot Bitcoin ETF that tracks the actual Bitcoin price, could draw institutional investors and boost Bitcoin’s value, proponents argue. Big-name financial firms such as BlackRock and Fidelity are reportedly interested in launching such ETFs.</p> 
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    <p lang="en" dir="ltr">So, you don't believe some really smart and deep pocketed operators have already gotten ahead of this?<br><br>Over 48 years of speculation I have learned again and again that markets discount events before the events are events<br><br>If any<a rel="noopener noreferrer nofollow" title="thing" href="https://thebittimes.com/tag/thing.html">thing</a>, it could be a "buy the rumor sell the fact"</p>— Peter Brandt (@PeterLBrandt) July 28, 2023 
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 <p>Again, Brandt offers a contrarian view. He considers a Bitcoin ETF approval a non-event, suggesting savvy market operators have already positioned themselves for this possibility. He hints at a possible “buy the rumor, sell the fact” market reaction upon ETF approval.</p> 
 <p>For Brandt, Bitcoin’s success will hinge on its supremacy over other currencies and assets, not external correlations. He insists that what counts for Bitcoin’s long-term prospects is its number-one spot in the digital currency realm.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> JPMorgan casts doubt on significant impact of potential bitcoin ETF approval: ‘unlikely to be a game changer’ 
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Peter Brandt: Bitcoin halving and ETF are much ado about nothing

TheBitTimes

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