Bitcoin

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BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/turkish-altcoin-anticipates-upcoming-market-shifts" rel="noopener noreferrer nofollow">Turkish Altcoin Anticipates Upcoming Market Shifts</a><br></p>
<p style="text-align: justify">The cryptocurrency market continues to experience significant fluctuations, with <a href="https://en.bitcoinhaber.net/el-salvador-to-launch-volcano-bonds-in-early-2024" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent drop to $65,600 catching highly leveraged investors by surprise. Some altcoins have suffered losses of up to 10%. Meanwhile, the <a href="https://en.bitcoinhaber.net/stablecoin-market-rallies-with-record-high-usdt-valuation" rel="noopener noreferrer nofollow">Tether</a> CEO, who has transitioned from CTO to CEO, weighed in on the current environment and the influence of Bitcoin’s impending halving on market prices.</p>
<h2 id="crypto-chief-shares-market-insights">Crypto Chief Shares Market Insights</h2>
<p style="text-align: justify">During a Friday event, the head of the leading stablecoin, Tether, shared insights on the crypto market’s near future. The CEO addressed questions about the anticipated Bitcoin halving, emphasizing the difficulty in making precise predictions. He highlighted the substantial gap between the current Bitcoin demand and the limited <a href="https://en.bitcoinhaber.net/marathon-digital-expands-mining-operation-with-texas-facility-purchase" rel="noopener noreferrer nofollow">mining</a> production, a discrepancy expected to grow post-halving.</p>
<h2 id="spotlight-on-cryptocurrency-s-prospects">Spotlight on Cryptocurrency’s Prospects</h2>
<p style="text-align: justify">A Bitfinex conference featured discussions on the optimistic outlook for spot Bitcoin ETFs, with Tether’s market value standing strong at $103 billion. The forthcoming halving, scheduled for April, will slash the rewards miners receive, thereby reducing the freshly minted daily supply of Bitcoin to 450 BTC, which is meager compared to the demand from ETFs.</p>
<p style="text-align: justify">ETFs are already outstripping the daily mined Bitcoin supply, with BlackRock recently adding 4,886 BTC to its holdings. Post-halving, ETFs’ daily demand could be approximately 11 times higher than the total production from mining. With the current exchange supply valued at around $140 billion, the market is poised to understand the effects of a supply shortage.</p>
<p style="text-align: justify">Considering the combined demands from nine ETFs, including a nearly $10 billion BTC accumulation by Fidelity, the daily demand could skyrocket to 40-50 times the available daily supply, factoring in institutional interest. This impending disparity could provide a tangible example of what happens when market demand significantly outweighs supply.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/turkish-altcoin-anticipates-upcoming-market-shifts" rel="noopener noreferrer nofollow">Turkish Altcoin Anticipates Upcoming Market Shifts</a></h5>

Turkish Altcoin Anticipates Upcoming Market Shifts

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