Could the bear market be coming to an end? There are some major signs that point to this. Keep reading for a break down of the bull case.
Bitcoin Halving Event
Every 4 years, a major crypto event occurs called the Bitcoin Halving. Mining rewards are slashed in half to curb inflation from new Bitcoin being minted. The next Halving is projected for April 2024.
- 2012: BTC rose 365% pre-halving and +8,000% the following year.
- 2016: BTC appreciated by 142% pre-halving and +284% the year after.
- 2020: BTC went up by 17% before the halving and surged by +559% in the subsequent year.
In essence, Bitcoin halvings have often paved the way for significant rallies, making investors quite optimistic.
Numerous major financial firms have been queuing to file for Bitcoin ETFs. Interestingly, many of these firms were initially skeptical about crypto.
Historical precedent with Gold:
The first gold ETF was introduced in November 2004 and saw over $1B in inflows within days. Shortly after, gold prices soared. Given the trend, the crypto community is eagerly awaiting a Bitcoin ETF approval.
BlackRock, a financial behemoth, stands out with a striking record of getting its ETFs greenlit by the SEC, making it a prime candidate for Bitcoin ETF approval.
Crypto Fundamentals Strengthening in the Bear Market
While crypto prices have plummeted, the intrinsic value of crypto has burgeoned.
Valuation and value aren’t synonymous. Numerous external factors like economic…