The miners have stockpiled $BTC for this event. They are now making half of what they did before, but they have their stockpiles to rely on.
The only way they make money is by selling. The majority of selling pressure is from the miners.
We have seen the price rise because the new ETF's were approved and we now have institutional buying, which will continue. More will get approved and more buying will happen and the miners will have less to sell.
It would be basic economics, when the supply gets cut in half and the demand stays the same the price will increase, only this time the demand is going up exponentially due to the institutional buying and holding.
This will be a bull run 🚀 like never before as more ETF's are approved and the miners run out of bitcoin to sell. With demand rocketing up and supply getting cut in half.
Just hold on for a wild rollercoaster ride. I’ve been holding my bitcoin since 2020 and I’m not selling anytime soon.
$BTC price usually corrects two to three months before the US presidential election and rallies afterward. The trend occurred in 2012, 2016, and 2020. Bitcoin typically rises post-election. Bitcoin rose after the 2016 election as market certainty restored. The months after the 2020 election saw huge rises.
So Guys, in my view 45K would be the great entry for you in the BTC.
$BTC price usually corrects two to three months before the US presidential election and rallies afterward. The trend occurred in 2012, 2016, and 2020. Bitcoin typically rises post-election. Bitcoin rose after the 2016 election as market certainty restored. The months after the 2020 election saw huge rises.
So Guys, in my view 45K would be the great entry for you in the BTC.
Anthony Scaramucci, founder of SkyBridge Capital, thinks that $100 billion in institutional capital may be attracted to Bitcoin just through the BlackRock ETF. ________________________________ If Scaramucci is correct, such a flood of capital might cause the price of Bitcoin to soar to $330,000. From its present price, that means a 685% increase.
Please Follow this Account for Interesting News of Crypto Space.
Potentially losing 14% of its value by March 2024, Bitcoin might crash to $36,350. We anticipate a 7% drop in the next weeks.
No matter what obstacles or shocks 2024 brings for Bitcoin, one thing is certain: it will continue to amaze us. Bitcoin continues to captivate and split with predictions of both price increases and decreases. Without a doubt, 2024 will be a thrilling year for crypto lovers and investors. Keep watching, since there can be more good (or bad) times ahead! Getting a Bitcoin ETF approved is just the first step.