đ€ 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.