1. Bitcoin ETF attracts new female investors
What has been simmering for a long time could finally become something: an Exchange Traded Fund (ETF) on Bitcoin. Blackrock has submitted an application for a BTC Trust to be issued as a Bitcoin Trust ETF. Why is this bullish? Not only has the most powerful asset manager in the world apparently recognized that Bitcoin can no longer be separated from the financial world. Rather, a BTC ETF would make investing in the largest cryptocurrency so much easier that even those who are hesitant might reconsider. This also helps the Bitcoin course.
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2. Bottoming seems complete
In the last few weeks and months, the crypto space has been torpedoed by negative news. The US stock exchange regulator around Gary Gensler wants to hit the crypto sector hard, while Binance is getting on its nuts. The Bitcoin course (BTC) gave way again and again in the course of this. But the March low of almost 20,000 US dollars was hardly reached afterwards. This suggests that the price has found its bottom there.
3. Bitcoin hodlers are undeterred
Closely related to the point above: If you take a closer look at blockchain data, it becomes clear that the number of wallets that are no longer moving their Bitcoin is steadily growing. The “Hodler of Last Resort”, i.e. those people who are not deterred by negative news, is growing steadily. They also get richer. The number of BTC millionaires increased by 48,000 in 2023 alone.
4. Supply continues to shrink
Bitcoin fans already know: The cryptocurrency is limited to a maximum of 21 million BTC. And it’s getting fewer every day. At the time of writing, 19.4 million coins are already in circulation. If the demand for the asset continues to grow, which point 1 in particular speaks for, the Bitcoin price should also follow suit.
5. Bitcoin halving is upon us
In the coming year, the supply of new coins will once again be drastically reduced. Because every 100,000 blocks, roughly every four years, the Bitcoin Halving takes place. Next time, expected on April 05, 2024, the reward for miners will be halved to 3,125 BTC. In the past, this event has resulted in massive price increases since the beginning of the crypto era.
Disclaimer: No investment advice, nobody can predict the future. Crypto investments can always lead to a total loss. Only invest money that you can lose!
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