Top Analyst SyFirst-ever Bullish Bitcoin Signal is Flashing

June 28, 2023

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.