Bitcoin’s Rise After the Halving: Is the Cryptocurrency Market Entering a New Era?
The Halving of Bitcoin Approaches, Setting the Stage for Promised Growth in the Cryptocurrency Market
On April 25, 2024, an event known as the halving of Bitcoin is set to occur, often foretelling a dynamic surge in the value of this cryptocurrency. Current signals indicate that the cryptocurrency market is nearing the awaited parabolic bull run, which could prove highly beneficial for investors.
Deviation from Previous Cycles
In contrast to previous cycles, the current year proves to be exceptional. The market dynamics are driven by increasing interest, institutional acceptance, and broader applications of blockchain technology. All of these paint an optimistic picture for the future of Bitcoin and other cryptocurrencies.
Historical Milestone: Bitcoin ETF
The approval and success of Bitcoin ETFs in the market is undoubtedly a historical milestone in the cryptocurrency’s journey. This development has led to a significant price increase of Bitcoin by 60% and the achievement of trading volumes at unprecedented levels.
Rise in Institutional Interest
The influx of institutional interest in Bitcoin ETFs attracted over 30 billion dollars in assets under management in just two months. This demonstrates the growing acceptance from large financial entities.
Expectations Post Bitcoin Halving
Following the upcoming Halving, it is expected that ETFs holding over 467,000 BTC could significantly surpass the annual supply of Bitcoin, impacting the tightening supply of this cryptocurrency. The confidence of long-term investors and the limited available supply of Bitcoin indicate an upcoming price surge.
A New Era for Bitcoin
The current cycle could mark a turning point and usher in a new era characterized by increasing trust from financial institutions in Bitcoin. Experts from 21Shares note that a focus on holding the cryptocurrency could lead to price growth and the start of a parabolic bull run, which could be highly advantageous for Bitcoin holders.
