🤑 Why Bitcoin is Bullish in 2024 $BTC

Bitcoin in 2024 has a lot of bullish potential.

The following is a list of factors which contribute to Bitcoin's bullish sentiment and why I think it will continue to grow in the coming months:

Halving Effect: April's block reward halving significantly reduced new $BTC entering circulation. This affects the supply and Bitcoin is becoming more scarce by the day.

Institutional Adoption: Due to Bitcoin's ETFs, major institutions open a gate for traditional investors to the world of cryptocurrencies. Over time, we may witness a huge flow of money into the market.

Fundamentals: Bitcoin's reputation as a hedge against inflation might attract investors especially in a time where traditional investment instruments fail to provide enough return to outpace inflation.

Lightning Network Growth: Advancements in the Lightning Network are contributing to scalability, potentially attracting new users and boosting the overall transaction volume.