“Safe Horizon or Dangerous Waves? Perspective Before Bitcoin Halving”


The Bitcoin Halving is Approaching Fast

The eagerly awaited moment within the cryptocurrency community is drawing near – the Bitcoin halving. This phenomenon holds pivotal importance for the digital currency economy as it reduces the supply of Bitcoin (BTC) and cuts the emission rate in half. Currently, there are only 34 days left until this significant event.

Basile Maire on Market’s Incomplete Incorporation of Emission Reduction

Basile Maire, the co-founder of the decentralized exchange D8X and former executive director at UBS, believes that the Bitcoin emission cut has not been fully incorporated into the cryptocurrency market yet. His insights could be crucial for the future price movements of the cryptocurrency.

Bitcoin Surpasses $71,000 Mark

On March 11, Bitcoin’s price crossed the $71,000 mark, about 37 days before the scheduled halving. After this event, block rewards will decrease from 6.25 BTC to 3.125 BTC, potentially impacting the dynamics of this cryptocurrency’s value.

Price Forecasts and Political Risk Perspective

Data from Bitcoin futures contracts indicate a belief in Bitcoin’s price rising to $100,000 by May. However, it is important to remember that Bitcoin’s price outlook will heavily depend on the upcoming US presidential elections, which could pose both risks and opportunities for the cryptocurrency market.

Impact of American Bitcoin ETFs on Bitcoin

The influx of American Exchange Traded Funds (ETFs) on Bitcoin plays a significant role in Bitcoin’s rally to new heights. By March 13, Bitcoin spot ETF exchanges reported a combined holding of $60.5 billion, confirming the substantial influence of these financial instruments on the cryptocurrency market.

Bitcoin ETFs Absorb a Huge Portion of Supply

Remarkably, Bitcoin spot ETFs purchase ten times more Bitcoin daily than what is mined by mining operations. If the current inflow trends persist, it is projected that Bitcoin ETFs will absorb up to 8.82% of Bitcoin’s supply annually, representing a significant indicator of interest in this financial instrument.