Bitcoin

April

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/exploring-the-implications-of-bitcoins-upcoming-halving" rel="noopener noreferrer nofollow">Exploring the Implications of Bitcoin’s Upcoming Halving</a><br></p>
<p style="text-align: justify">The cryptocurrency community is abuzz with anticipation as <a href="https://en.bitcoinhaber.net/the-infamous-mt-gox-hack-a-turning-point-in-cryptocurrency-history" rel="noopener noreferrer nofollow">Bitcoin</a>‘s next halving event, set for April 2024, draws closer. With only 60 days remaining, a significant supply shock is predicted, potentially leading to a scarcity that could dramatically influence the value and widespread use of Bitcoin. Especially with growing interest from institutional investors, the halving may result in a remarkable market shift.</p>
<h2 id="anticipating-the-supply-shock-wave">Anticipating the Supply Shock Wave</h2>
<p style="text-align: justify">Anthony Pompliano of Pomp Investments has forecasted a “supply shock wave” post-halving that might lead to a substantial price surge in Bitcoin by year’s end. He suggests that the price could even approach previous record highs, marking an extraordinary event for the cryptocurrency.</p>
<h2 id="bitcoin-etfs-and-their-market-influence">Bitcoin ETFs and Their Market Influence</h2>
<p style="text-align: justify">This prediction is rooted in supply and demand principles. With increasing miner profits per Bitcoin, the need to sell Bitcoins decreases, which could result in price hikes due to the diminishing net BTC supply. The market has also felt the impact of Bitcoin ETFs’ approval by the SEC, with significant companies like BlackRock quickly building up Bitcoin holdings, amassing over $4.3 billion worth in a short span.</p>
<p style="text-align: justify">Pompliano believes new investor types will soon enter the crypto space and affirms Bitcoin’s status as a favored asset among Wall Street investors, especially through Bitcoin ETFs. This sentiment is shared despite the prospect of a more subdued price reaction to the halving due to the market’s maturity and the rise in regulatory and institutional involvement.</p>
<p style="text-align: justify">Pompliano maintains his confidence in Bitcoin’s potential for growth, predicting that the cryptocurrency might surpass $100,000 within the next 18 months following its historical trend of doubling in price.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/exploring-the-implications-of-bitcoins-upcoming-halving" rel="noopener noreferrer nofollow">Exploring the Implications of Bitcoin’s Upcoming Halving</a></h5>

Exploring the Implications of Bitcoin’s Upcoming Halving

Table of Contents

BH NEWS

Other articles published on Feb 20, 2024

Alert for Celestia (TIA) Investors: Potential Price Movements to Watch

The Evolution of UAE Trade Connect Toward Global Transformation: From UTC to Haifin

Hong Kong’s crypto licensing draws local financial giants

Filecoin’s Value Soars with Potential for Triple Price Increase

Ethereum Price Prediction: Will ETH Hit $3.3K In February?

South Korea’s Opposition Party Advocates Spot Bitcoin ETFs

Join our free newsletter for daily crypto updates!