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BTC at 280.000$
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GM. Today on Money Printer Go Brrr newsletter:
What you should know today;
If History Repeats, Here’s How High Bitcoin (BTC) Price Can Go Post Halving (Analysis);
Coinbase Identifies Bullish Factors That Will Drive A Bitcoin Bull Run In 2024;
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Top Crypto Gainers (24h)
What you should know today
If History Repeats, Here’s How High Bitcoin (BTC) Price Can Go Post Halving (Analysis);
If Bitcoin's post Halving returns are the same as 2020, we are looking at $280K Bitcoin next year.
You might reasonably argue this cycle's returns are less than 2020.
However, I believe the 2020 cycle performance was mediocre and an outlier.
— Charles Edwards (@caprioleio)
9:08 AM • Feb 5, 2024
Bitcoin's big party, the halving, is coming this April, and the crypto crystal balls are out!
Charles Edwards, a crypto wizard, says Bitcoin might throw a $280,000 bash if it parties like it's 2020. 😀
👉 Then – 3rd halving – was the worst bull market:
→ due to China’s mining crackdown and,
→ Federal Reserve's tightening cycle – reducing the amount of money circulating.
👉 Now – 4th halving – looks like a rave party:
→ “Money Printer Go Brrr” – aka the gov tries to increase the money supply 🔥,
→ FED cutting rates (which is the interest rate at which banks lend reserves to each other overnight).
Edwards thinks spot Bitcoin ETFs are like getting an extra slice of birthday cake, possibly doubling the fun.
💡Educational cookies to takeaway:
→ For every 210,000 blocks, the number of newly issued bitcoins is cut in half (Halving)
→ Roughly every four years, depending on how quickly blocks are mined (~10 min).
→ Halving rewards fuels healthy network value growth by limiting new Bitcoin creation, ensuring a finite supply,
→ Bitcoin halving cuts inflation by reducing the stream of new coins entering the market.
Each Bitcoin rewards halving.
Bitcoin halving effect on price:
Bitcoin halving effect on price:
ld be the start of a wild financial fiesta, with predictions of it hitting the $300,000 jackpot.
Let’s see what Coinbase identifies as bulish factors.
Coinbase Identifies Bullish Factors That Will Drive A Bitcoin Bull Run In 2024
Coinbase plays fortune teller, predicting Bitcoin's big party in 2024, with the economy and a Bitcoin birthday party (halving event) as the VIP guests.
💡Factors include:
→ Fed’s potential policy change
→ the anticipated easing cycle (Money Printer Go Brr)
→ spot Bitcoin ETFs
→ halving
In simpler terms:
→ Fed makes it easier for people to borrow money and spend it;
→ lowers the cost of borrowing money
→ this is to help the economy grow by pushing people & businesses to spend more*.
(*Because Money Printer Go Brrr).
Let us note the fact that spot Bitcoin ETFs allowed for a huge influx of money. 👏
The 9 new spot #Bitcoin ETF holdings visualized through 1/29/2024 with a total of 150,553 BTC.
BlackRock and Fidelity are surging past the others at an insurmountable pace. 🤯
Source: @apollosats 🔥
— The ₿itcoin Therapist (@TheBTCTherapist)
4:49 PM • Jan 31, 2024
In about 1 month, Blackrock and Fidelity own a combined 138,489 #BTC worth $5.9 billion for their spot Bitcoin ETFs 🚀.
Spot Bitcoin ETF Volumes
Read the full report here.
💡 Educational cookies to takeaway:
Remember, while these predictions are based on historical data and current trends, the crypto market's volatility means nothing is certain.
Always do your research and consider multiple viewpoints before making investment decisions.
Meme Of the Day
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