Top Analyst SyFirst-ever Bullish Bitcoin Signal is Flashing

A crypto strategist that a lot of people pay attention to says that one Bitcoin (BTC) signal is showing positive for the first time in the history of the crypto king.

The anonymous host of InvestAnswers tells his 444,000 YouTube followers that the number of Bitcoins that can be traded is going down for the first time before a halving event.

The available supply is the amount of the total supply that isn’t owned by HODLers, or investors who haven’t sold much of the top digital asset in the past.

The next half event for Bitcoin is expected to happen in April of next year. The amount of new BTC given to miners will drop from 6.25 Bitcoin per block to 3.125 Bitcoin per block.

“The point of this chart here as you can see [is] the available hodler supply as a percentage of total supply and marked in black dots are the actual having cycles. This is the first time ever, ever in a halving cycle where the supply is going down before we’re even in it, ladies and gentlemen. And that is very exciting.”

The trader said that the supply going down could be the start of a big bull run.

“This decline in supply is likely to lead to a massive bull run in the future. I don’t know if it’s this bull run we’re currently in or the next, but it’s coming. That I am certain of.

This is because there is more demand every single day for Bitcoin and the supply is drying up. And that means the price goes up. That means the pace of hardness is increasing.”

He also says that more business use of the asset, like BackRock’s application for a spot Bitcoin ETF, will drive up demand and make supply even tighter.

“And the institutions are here: BlackRock, Fidelity, Deutsche Bank, Crédit Agricole, Citadel, you name it. They’re all coming and probably hundreds more. And even these few names run AUM (assets under management) of $27 trillion.

And the market cap of Bitcoin is half a trillion (dollars). It’s ridiculous. And only a tiny fraction of that half a trillion (dollars) of market cap is for sale. So you guys can do the math. It is the most beautiful macro and economic experiment I’ve ever seen in my life. And I just get excited every day to look at the data.”

At the time of this writing, the price of Bitcoin is $30,184, which is 1% less than it was 24 hours ago.

Comments

Post a Comment

Popular posts from this blog

Barry Silbert deletes old tweets amid GBTC selloff

Under-fire Digital Currency Group founder Barry Silbert has apparently deleted a raft of his old tweets . According to his X (formerly Twitter) account, Silbert signed up in October 2011, however, at the time of writing, his timeline shows no tweets or replies older than January 5 this year. Luckily for die-hard Silbert fans, X user Pledditor has screenshotted some of his “greatest hits.” Looks like @BarrySilbert has deleted all his old tweets The good news? I have screenshotted some of his greatest hits pic.twitter.com/GLWPbCf5mN — Pledditor #FixTheFilters (@Pledditor) January 15, 2024 Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’ Among the messages saved by Pledditor is a classic in which Silbert brands himself a “ complete and total professional failure ,” and one in which he advises Dogecoin holders to convert it to bitcoin. It’s not clear what prompted Silbert’s Social Media cull but he’s currently taking Social Media ...
Read more

Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin

Image
A widely followed crypto strategist warns that a Solana (SOL) competitor that’s up more than 3x in the last 30 days is flashing signals that it may have printed a short-term top. The pseudonymous analyst known as Altcoin Sherpa tells his 205,700 followers on the social media platform X that while layer-1 blockchain Sei (SEI) is still in an uptrend, it starting to show signs of bullish exhaustion. “Why it looks good: -consolidation and highly bullish high time frame market structure -still bullish on all time frames -EMAs (exponential moving averages) all catching up + other alts looking strong Why it doesn’t: -could be an exhaustion pump here and last big move up -could be rotation from others (SOL/SEI/etc/) to ETH season also known as ARB/LDO/OP -dying volume/some signs of distribution here.”  Source: Altcoin Sherpa/X At time of writing, SEI is trading for $0.785, up over 247% from its 30-day low of $0.226. The trader is also keep...
Read more

Nuant becomes a member of the OpenWealth Association

On January 18, Nuant joined the OpenWealth Association, contributing to advancing digital assets risk management within Swiss banking, WealthTech, and traditional finance, per the information shared with Finbold. In doing so, Nuant recently joined traditional finance entities such as Credit Suisse, LGT, VP Bank, and WealthTech firms like Assetmax and InvestSuite. This strategic partnership represents a noteworthy progression in crypto investment risk management within Switzerland’s financial sector. The OpenWealth Association aims to establish, uphold, and implement open Application Programming Interface (API) standards within the global wealth management community. This commitment aims to facilitate seamless financial data exchange among institutions. Nuant as representative of the CeDeFi sector Cryptocurrency Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025 Cryptocurrency Donald Trump says he’ll ‘never allow a CBDC’ if elec...
Read more