10 Reasons Why Bitcoin is Sky Rocketing Right Now
Bitcoinโs price in USD is up 30% over the last month. Here are 10 reasons why the price can only go higher: 1. Less people are selling. 1 in 3 holders havenโt moved any bitcoin in the past year. 1 in 2 havenโt moved in the last 2 years. When asked: โWhen will you sell?โ Most bitcoiners now answer with something like: โSell and buy what? Bitcoin IS the exit strategy.โ Assuming demand remains steady, with less supply from people selling, the price of bitcoin can only go up. 2. Bitcoin ETFs are growing. Bitcoin Exchange-Traded Funds (ETFโs) got approved in January. Do you remember what happened when Gold ETFโs were approved? 1 year later, the price of gold skyrocketed. But do you know the difference between gold ETF & bitcoin ETF? Bitcoin ETFโs have already received more inflow in their first year than Gold received in it's first 5 years. Cameron Winklevoss (multi billionaire investor) says: โPeople buy ETFs, they donโt sell them. Their investments are sticky so the floor keeps rising. Where are we in the cycle? We just won the coin toss. The innings havenโt even started yet.โ With a bitcoin ETF being sold by so many investing firms (like BlackRock), the price of bitcoin can only go up. 3. Bitcoin ETF Options are coming soon. With bitcoin ETF Options expected within the next 2 weeks, investors are loading up on bitcoin now to prepare. Why? Because whenever options get introduced into a commodity, the price tends to skyrocket soon after. With bitcoin options still ahead of us, the price of bitcoin can only go up. 4. Interest rates are getting slashed. Whenever interest rates are cut, investors take out money and invest into scarce assets like bitcoin. Why? Because if you can borrow money at 5%/year, and put it into bitcoin which gains (on average) 50-100% per year, you'd be crazy not to. With more investors throwing more and more cheap money at bitcoin, the price of bitcoin can only go up. 5. Bitcoinโs halving has created a "Supply Shock".