Bitcoin is taking off! ETFs and halving propel the crypto towards $100,000?
The recent surge in interest for Bitcoin ETFs, combined with the supply shortage induced by the upcoming halving, creates an ideal context for Bitcoin to potentially reach the symbolic $100,000 milestone. Technical signals and the growing interest of institutional investors suggest an imminent surge that could exceed even the most optimistic forecasts.
The Crucial Impact of Bitcoin ETFs
The launch of the first Bitcoin ETFs has sparked a rush of institutional investors, drawn to this new investment vehicle. This massive influx of capital into Bitcoin index funds is just beginning. Its impact on crypto prices has not yet been fully absorbed by the market.
Some analysts discuss the potential of a “FOMO rally” if the buying frenzy around these ETFs accelerates. A similar surge was observed in 2017 following the launch of Bitcoin futures by CME. At that time, the crypto shot up to $20,000, a record that could be greatly surpassed this time around.
The changing perception of institutional investors towards Bitcoin is also reflected in the quick approval of ETFs by American regulators. This increasing adoption of Bitcoin as an asset class paves the way for an even more spectacular surge than in 2017.
Halving, a Catalyst for Scarcity
Expected around April 2024, the next Bitcoin halving will cut the miner’s reward in half, reinforcing its scarcity. Historically, this event has consistently triggered a bullish rally! But also the reduction in inflation, leading to an appreciation of the crypto’s price.
Bitcoin has indeed already achieved a significant technical milestone by crossing for the first time the 0.618 retracement level before a halving. This precursor signal usually marks the beginning of a new powerful bullish cycle.
The convergence of the halving with the explosion in demand triggered by the ETFs could create the perfect storm for an enormous surge. Some crypto analysts are targeting a price between $50,000 and $60,000 by May 2024. However, it now seems plausible that Bitcoin could easily surpass $100,000 under the combined effect of these two major catalysts.
Bitcoin Begins a New Parabolic Phase
Fueled by the enthusiasm of institutional investors for ETFs and the increasing scarcity generated by the halving, Bitcoin displays all the technical and fundamental characteristics of a new historic ascent.
The improbable alignment of these bullish factors suggests the start of a parabolic acceleration. This could easily send Bitcoin into the stratosphere, well beyond its previous record. Good news for the crypto.
The coming months are therefore set to be extremely exciting for crypto investors, with a new explosive chapter in the already tumultuous history of Bitcoin on the horizon. The journey towards $80,000 and beyond is likely just beginning.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.