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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-hit-44k-here-are-top-factors-supporting-the-bull-run/" rel="noopener noreferrer nofollow">Bitcoin Price Hit $44K, Here Are Top Factors Supporting The Bull Run</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Attorney John Deaton recalls a notable shift in the perspective of a financial advisor who once dismissed Bitcoin as fool’s gold and a potential government target.</p>
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   <p lang="en" dir="ltr">In 2018 I had a very successful financial advisor tell me: “I wouldn’t put anything in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> or crypto.” <br><br>I said: “Not even 1-5%?” <br><br>He gave a <a href="https://twitter.com/PeterSchiff?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PeterSchiff</a> like response, saying “<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is fool’s gold, a ponzi, and the government will likely shut it down.”<br><br>He told me I…</p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1732047576436773358?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 5, 2023</a>
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<p>Back in 2018, Deaton approached his financial advisor with the idea of allocating a portion of his portfolio to Bitcoin. The advisor vehemently rejected the suggestion, comparing Bitcoin to a Ponzi scheme and labeling Deaton as “crazy” for considering a 50% investment in the cryptocurrency.</p>
<p>Further in 2024, and the same financial advisor has had a different perspective. Influenced by prominent figures like Larry Fink of BlackRock and institutions like Fidelity advocating for a Bitcoin Spot ETF, the advisor now advises clients to consider investing in the ETF but recommends limiting exposure to no more than 5% of their net worth.</p>
<p>This transformation underscores the gradual mainstream adoption of Bitcoin, with once-skeptical financial professionals acknowledging the cryptocurrency’s potential. The advisor’s reversal reflects the growing acceptance and legitimacy of Bitcoin within traditional financial circles.</p>
<h2 class="wp-block-heading" id="h-key-data-points-supporting-a-bullish-outlook"><strong>Key Data Points Supporting a Bullish Outlook:</strong></h2>
<ol>
 <li>Bitcoin halving event in 134 days.</li>
 <li>Global assets totaling $900 trillion.</li>
 <li>S&amp;P500 holding $2.6 trillion in cash.</li>
 <li>2 million Bitcoins on exchanges.</li>
 <li>75% chance of interest rate cuts by April.</li>
 <li>105 countries engaging in money printing.</li>
 <li>7.992 billion people yet to adopt Bitcoin.</li>
 <li>Spot ETFs accumulating $17 trillion in assets under management in just 36 days.</li>
</ol>
<p>Considering these factors, Deaton expresses a strong long-term bullish sentiment for Bitcoin.</p>
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 <p>He emphasizes, “The moral of the story: Don’t sell your Bitcoin because it’s going to be very hard to get it back. 70% of people refuse to sell to BlackRock and others.”</p>
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Bitcoin Price Hit $44K, Here Are Top Factors Supporting The Bull Run

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