Bitcoin: Here is the real catalyst for BTC’s potential 6000% surge – Analyst

Bitcoin: Here is the real catalyst for BTC's potential 6000% surge - Analyst

Cryptocurrency investors are eagerly awaiting a decision from the U.S. Securities and Exchange Commission (SEC) that will likely approve the trading of a spot Bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. .

Cryptocurrency investors are eagerly awaiting a decision from the U.S. Securities and Exchange Commission (SEC) that will likely approve the trading of a spot Bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. .

Pending approval, 13 companies are expected to offer ETFs, including BlackRock, the world’s largest asset management firm.

The price of Bitcoin rose significantly throughout most of 2023, driven by optimism surrounding the approval of the Spot ETF, and is now trading at around $43,622.

On the contrary, the price of Bitcoin has always declined in response to pessimistic reports regarding the approval of a Bitcoin spot ETF. The most recent was on January 3, when rumors about the rejection of the Bitcoin spot ETF spooked the markets, and Bitcoin fell approximately 8%.

As the cryptocurrency market anxiously awaits the SEC’s decision next week, two possibilities present themselves: the SEC could decide to approve or reject it.

Related
Bitcoin Spot ETF: Wall Street Sees $100 Billion Potential

Ali states that regardless of what happens with the Bitcoin ETF, another bullish catalyst awaits us this year, which is the Bitcoin halving. This bullish event, according to Ali, has historically been a catalyst for significant price increases.

To support this claim, Ali published a chart indicating the price performance of BTC 365 days after the latest halvings.

The first halving event, in which BTC mining rewards were reduced to 25 BTC, caused the price of Bitcoin to rise more than 6,000%, according to the chart posted by Ali.

Meanwhile, Bitcoin experienced an average annual return profile of over 400% in subsequent halving events in 2016 and 2020. While Bitcoin’s price tends to skyrocket in the months following the halving, it is It is important to remember that past performance does not predict future results. .

Expected date for Bitcoin halving

While the next BTC halving is expected for a block height of 840,000, the actual day and time is subject to change due to natural fluctuation and the probabilistic nature of mining blocks. Based on the current average block interval, Glassnode predicts a likely date of April 23, 2024.

Related
Bitcoin Halving Could Spark 400% Bull Run, Here’s the Predicted Timing

Bitcoin miners currently receive 6.25 Bitcoins for each successfully mined block. This reward will be halved to 3,125 Bitcoin when the next Bitcoin halving occurs.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة