PriceExplode
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Are We Ready For a Crypto Price Boom? Bitcoin Halving and Spot ETFs.
Is Bitcoin ready to dethrone gold as the ultimate store of value?
The cryptocurrency scene is on the brink of a major shift, with all eyes eagerly awaiting the potential approval of the first U.S. spot Bitcoin Exchange-Traded Fund (ETF) between January 5th and 10th, 2024. This pivotal moment draws parallels to history, resembling the impact seen when the first spot gold ETF hit Wall Street back in November 2004.
It seems we’re now sitting on a ticking bomb in the form of a bull rally. It’s just a matter of time till it explodes!
Back in 2004, the SPDR (State Street) Gold ETF (GLD) changed the game for the gold market. Over the next eight years, gold’s value shot up from $400 to $1,800—a staggering leap that added a whopping $8 trillion to its market cap, taking it from $2 trillion to an incredible $10 trillion.
Currently valued at around $500 billion, Bitcoin stands at a quarter of what gold was before the GLD ETF. Gabor Gurbacs, the brain behind PointsVille and an advisor to Tether and VanEck, believes that Bitcoin could follow a similar, if not faster, trajectory post the approval of a U.S. spot Bitcoin ETF.
Unlike gold, Bitcoin operates on a fixed supply algorithm, and the upcoming Bitcoin halving event will further reduce new supply by 50%. If demand remains steady or increases, this scarcity could naturally push the price up.
A Bitcoin ETF could bring in significant institutional investments, with estimates suggesting an enthusiastic influx of $20-30 billion into Bitcoin through institutional products. Combined with Bitcoin’s limited availability and systematic scarcity, this surge could significantly boost its market value.
Should the ETF get the green light, cryptocurrency investment could undergo a major transformation.
#BTC #ETF #BTCETF #PriceExplode #BinanceTournament
$BTC
Is Bitcoin ready to dethrone gold as the ultimate store of value?
The cryptocurrency scene is on the brink of a major shift, with all eyes eagerly awaiting the potential approval of the first U.S. spot Bitcoin Exchange-Traded Fund (ETF) between January 5th and 10th, 2024. This pivotal moment draws parallels to history, resembling the impact seen when the first spot gold ETF hit Wall Street back in November 2004.
It seems we’re now sitting on a ticking bomb in the form of a bull rally. It’s just a matter of time till it explodes!
Back in 2004, the SPDR (State Street) Gold ETF (GLD) changed the game for the gold market. Over the next eight years, gold’s value shot up from $400 to $1,800—a staggering leap that added a whopping $8 trillion to its market cap, taking it from $2 trillion to an incredible $10 trillion.
Currently valued at around $500 billion, Bitcoin stands at a quarter of what gold was before the GLD ETF. Gabor Gurbacs, the brain behind PointsVille and an advisor to Tether and VanEck, believes that Bitcoin could follow a similar, if not faster, trajectory post the approval of a U.S. spot Bitcoin ETF.
Unlike gold, Bitcoin operates on a fixed supply algorithm, and the upcoming Bitcoin halving event will further reduce new supply by 50%. If demand remains steady or increases, this scarcity could naturally push the price up.
A Bitcoin ETF could bring in significant institutional investments, with estimates suggesting an enthusiastic influx of $20-30 billion into Bitcoin through institutional products. Combined with Bitcoin’s limited availability and systematic scarcity, this surge could significantly boost its market value.
Should the ETF get the green light, cryptocurrency investment could undergo a major transformation.
#BTC #ETF #BTCETF #PriceExplode #BinanceTournament
$BTC
🚫🚫Shiba Inu token in danger?? 💀🚫🚫
Shiba Inu price is nearing a crucial bearish reversal, and a confirmation of the same would mean that the meme coin should note a significant decline over the coming days. If this drawdown is completed successfully and SHIB reaches the target price, a new all-time low will be formed.
#PriceExplode has been trending downward since the end of December, extending the decline to $0.00000875.
The rounding top pattern formed by SHIB indicates a #BearishZone outlook, implying a 31% correction is likely.
Heavy bearishness on the price indicators, as well as a lack of supporting cues from the broader market, suggest further drawdown is possible.
Shiba Inu price under bearish threat
Shiba Inu price is currently forming a rounding top #Pattern after rallying throughout December and initiating a decline toward the end of it that extended over the past three weeks. The meme coin nearly ensured that the pattern would fail, but it failed to breach the $0.00000968 barrier marked as the stop loss.
Shiba Inu price is nearing a crucial bearish reversal, and a confirmation of the same would mean that the meme coin should note a significant decline over the coming days. If this drawdown is completed successfully and SHIB reaches the target price, a new all-time low will be formed.
#PriceExplode has been trending downward since the end of December, extending the decline to $0.00000875.
The rounding top pattern formed by SHIB indicates a #BearishZone outlook, implying a 31% correction is likely.
Heavy bearishness on the price indicators, as well as a lack of supporting cues from the broader market, suggest further drawdown is possible.
Shiba Inu price under bearish threat
Shiba Inu price is currently forming a rounding top #Pattern after rallying throughout December and initiating a decline toward the end of it that extended over the past three weeks. The meme coin nearly ensured that the pattern would fail, but it failed to breach the $0.00000968 barrier marked as the stop loss.
