1. Bitcoin: The fourth halving is about to be completed, reducing annual selling pressure by $10 billion. Bitcoin will complete its fourth halving on April 18, 2024. The block reward will be reduced from 6.25 bitcoins to 3.125, further reducing Bitcoin output and selling pressure.
Before the halving, the annual output of Bitcoin was about 330,000, which, at a price of $65,000, would bring more than $20 billion in selling pressure to the market. After the halving, the annual selling pressure of Bitcoin will also be reduced by half, which is equivalent to a reduction of $10 billion, effectively alleviating the selling pressure of Bitcoin.
2. Bitcoin: There have been three halvings in history, and a sharp rise in the year after each halving Bitcoin has experienced three halvings in history, in November 2012, July 2016, and May 2020. The common point is that there has been a sharp rise in the year after the halving. There are less than 30 days left until the fourth halving. The market has begun to price in the impact of the halving, and there is a high probability that Bitcoin will continue to fluctuate upward.
3. Bitcoin: Spot ETFs receive accelerated capital inflows, boosting Bitcoin's continued upward movement On January 10, the BTC spot ETF was approved, which has since brought in tens of billions of dollars in over-the-counter capital inflows, boosting Bitcoin's continued upward movement. In previous bull markets, BTC usually had multiple callbacks of more than 20%, but this round of bull market has had fewer callbacks and smaller callbacks, thanks to the continuous inflow of over-the-counter funds.
Refer to the gold ETF. After the launch of the first gold ETF, gold ushered in a nearly 10-year bull run, with an increase of more than 400%. Compared with gold, BTC is safer to store, more convenient to trade, and faster to transfer, and has superior value storage characteristics. The current market value of gold is 14.5 trillion US dollars, and the market value of Bitcoin is only 1.3 trillion US dollars. Bitcoin still has 10 times the space to reach gold, and the launch of Bitcoin ETF is more popular than the gold ETF of that year, and the speed of capital inflow is far ahead.
4. Inscription: Bitcoin native innovation, the third wave of enthusiasm is expected to start when the halving occurs. In January 2023, Bitcoin developer Casey Rodarmor released the Ordinals protocol, which allows users to embed data into the Bitcoin blockchain, thereby creating NFT and token assets on Bitcoin, opening up a new way to play in the Bitcoin ecosystem. Since its launch, the total number of Ordinals inscriptions has exceeded 60 million.
Inscription has experienced two waves of enthusiasm. The first wave began in April 2023, when the leading token ORDI rose from $0.005 to $28, an increase of more than 5,000 times in two months. The second wave began in October 2023, when ORDI rose from $3 to $96. OKX and Binance launched the Inscription trading market, driving more Inscription assets to rise.
Inscriptions are a native innovation of the Bitcoin ecosystem, bringing more users and developers to the Bitcoin community, and various new applications and gameplay are constantly emerging. When Bitcoin undergoes its next halving, the market's focus will return to the Bitcoin ecosystem again, and inscriptions will also usher in the third wave of enthusiasm.
5. Runes: The protocol is expected to be launched at the time of halving, and Runestone is expected to become a core asset. The Runes Protocol was proposed by Casey Rodarmor, the founder of Ordinals. As an improved and upgraded version of the BRC-20 protocol, it aims to provide a high-efficiency, high-compatibility, and high-scalability Bitcoin asset issuance and management framework. It is expected to be officially launched at the time of Bitcoin halving, thus becoming one of the mainstream concepts of halving hype.
Rune Stone was launched by Leonidas, the founder of Ordinals browser http:// Ord.io. It completed its initial issuance by airdropping NFT to 112,383 Bitcoin addresses, and its current market value exceeds $300 million. Rune Stone has become the representative asset of the Rune Protocol. More and more projects have begun to airdrop to users holding Rune Stone. Rune Stone has a huge imagination space, and its future applications and gameplay are worth looking forward to. In addition, after the Rune Protocol goes online, users holding Rune Stone can convert it into a homogenous token. In general, Rune Stone has the narrative of "Rune Protocol" + "Airdrop Asset" + "Coin Issuance Expectation", and is expected to become the core asset of the Bitcoin halving market.
If you want to delve deeper into the cryptocurrency world but can’t find a clue and want to get started quickly, you can look at my homepage profile. I hope our encounter will be friendly.
