Decoding Bitcoin’s meteoric rise in 2024 | Posted by Vic Danh | Coins | January 2024
Navigating the Rollercoaster Journey for Gen Z and Millennial Investors
Hello, cryptocurrency enthusiasts! If you have been following Bitcoin closely, you may have witnessed its recent massive rise. In this blog post, we are analyzing Bitcoin’s 2024 peak, why, and its potential future. So buckle up and take on the world of digital gold!
Imagine this: Bitcoin has increased its value by a whopping 160% in less than a year, hitting more than $47,000 per coin. But wait, before we start counting the cryptocurrency chickens, let’s find out why Bitcoin is on this thrilling roller coaster.
Interest rate effect:
First is the interest rate. An unsung hero influencing not only Bitcoin but also stocks, Dorados and Stones (yes, you read that right). The stock market is like a crystal ball, always trying to predict the future. Bitcoin, the cool kid of the financial playground, is predicting the economic storm ahead. The Fed could even play superhero by cutting interest rates to save the situation. The proof? There’s something called the Fed’s Beige Book, where the bank pours out information about its economic forecasts. The mayor is shouting, “Reduce rates further.” And Bitcoin is dancing to the beat.
April 2024 Halving Event:
The next item on the agenda is the ‘possession’ case in April 2024. It’s like the moment in a superhero movie where the main character gains new powers. Bitcoin is becoming rarer than gold, and this scarcity can be measured using the stock-to-flow ratio. Quick math lesson – take your current Bitcoin shares, divide them by the flow of new Bitcoins, and voila! Historically, the 12 to 16 months after the halving were the golden years for Bitcoin. This time it’s not just a movie. It’s happening in April 2024, and you definitely want a front row seat.
Spot Bitcoin ETF – The Game Changer:
Now finally, we have the Spot Bitcoin ETF. Catch the cybertruck! Scheduled from January 5th to January…