2024

Bitcoin

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<p>The post <a href="https://coinpedia.org/news/bitcoin-halving-sparks-bullish-sentiment-as-analysts-predict-btc-price-surge-to-273000/" rel="noopener noreferrer nofollow">Bitcoin Halving Sparks Bullish Sentiment as Analysts Predict BTC Price Surge to $273,000</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin is set to undergo its Fourth halving, a phenomenon that has historically been associated with significant price rallies. Meanwhile, some analysts are now predicting that the world’s leading cryptocurrency could skyrocket to an impressive $273,000, citing a robust demand-supply ratio and historical market trends.</p>
<h2 class="wp-block-heading" id="h-daily-investments-inflow-vs-new-bitcoin-nbsp">Daily Investments Inflow vs. New Bitcoin&nbsp;</h2>
<p>In a recent tweet post, crypto analyst Willy Woo shared some important information about Bitcoin. He mentioned that every day, around $607 million in new investments is coming into the Bitcoin network.&nbsp;</p>
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   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> network is receiving an average of $607m per day of new investor demand** while this is being met by $46m per day of new supply in the form of new coins being mined. <br><br>We are now 60 days away from seeing new supply being halved. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/oZGkrXeFt0" rel="noopener noreferrer nofollow">pic.twitter.com/oZGkrXeFt0</a></p>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1760821645395341766?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 23, 2024</a>
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<p>On the flip side, only about $46 million in new Bitcoin is being created each day through mining. What makes this interesting is that we’re approaching a moment when the creation of new Bitcoin will be cut in half.&nbsp;</p>
<p>According to <a href="https://coinpedia.org/news/author-of-rich-dad-poor-dad-robert-kiyosaki-forecasts-bitcoin-to-reach-100k-by-june-2024/" rel="noopener noreferrer nofollow">his analysis,</a> this supply reduction is just 60 days away, signifying a potential turning point for the leading cryptocurrency.&nbsp;</p>
<p>However, to calculate new demand, Woo employs the change in the realized cap, a metric that reflects the cumulative price investors paid for their Bitcoin holdings. However, it’s important to know that this method might not capture all the buying and selling happening off the main Bitcoin network.</p>
<h2 class="wp-block-heading" id="h-macronautbtc-arithmetic-calculation">MacronautBTC Arithmetic Calculation</h2>
<p>In response to Woo’s data on daily demand and new supply, MacronautBTC performed arithmetic, where the daily demand for Bitcoin, estimated at $607 million, exceeds the daily new supply by $23 million. Further, by deducting the daily new supply from the daily demand, we get a notable $584 million daily demand.&nbsp;</p>
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   <p lang="en" dir="ltr">Hows my arithmetic:<br><br>Assume from halving:<br>$607M daily demand minus $23M daily new supply =<br><br>$584M daily demand * 250 trading days in a year = $1.46T new ADD'L mkt cap.<br><br>~every 1T in market cap is $50k in <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> price, right? So that would be a new <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> price of $123k.<br><br>(cont'd)</p>— MacronautBTC (@Macronaut_) <a href="https://twitter.com/Macronaut_/status/1760867279410253984?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 23, 2024</a>
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<p>When projected over 250 trading days, this translates to a substantial additional market capitalization of $1.46 trillion.</p>
<p>According to MacronautBTC’s calculations, every $1 trillion increase in market capitalization corresponds to a $50,000 surge in <a href="https://coinpedia.org/news/the-bitcoin-halving-is-set-to-happen-in-april-2024-heres-what-to-expect/" rel="noopener noreferrer nofollow">Bitcoin’s price.</a> Using this metric, the expected additional market capitalization of $1.46 trillion could potentially drive Bitcoin’s price to reach $123,000.</p>
<h2 class="wp-block-heading" id="h-bitcoin-at-273-000">Bitcoin at $273,000!</h2>
<p>Further taking a cautious approach, MacronautBTC adopts a “multiplier” method, in line with fellow analyst Willy Woo. This method suggests a potential threefold increase in Bitcoin’s value relative to the USD inflow.&nbsp;</p>
<p>By combining this multiplier with the projected additional market capitalization, MacronautBTC envisions an overall market capitalization of $5.38 trillion within a year, leading to a Bitcoin price surge to $273,000.</p>
<p>While projections in the crypto market are speculative and contingent on various factors, MacronautBTC’s response underscores the positive sentiment surrounding Bitcoin, especially as the halving event approaches.</p>

Bitcoin Halving Sparks Bullish Sentiment as Analysts Predict BTC Price Surge to $273,000

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