LIVE🚀Grayscale Warns that Skyrocketing Bitcoin Demand Exceeds Available Supply!🔥💰
Bitcoin Halving in mid-April will worsen supply shortage and massively increase prices!📈
The numbers speak for themselves: US-listed bitcoin exchange-traded funds (ETFs) are buying more $BTC each day than the network is creating. Since February, these ETFs have averaged 3,500-4,300 coins daily, significantly surpassing the 900 coins generated by the bitcoin network.
Grayscale Investments research head Zach Pandl explains the phenomenon, stating, "There is simply not enough bitcoin to accommodate all the new demand, and so natural supply/demand dynamics are driving prices higher."
The rise may continue due to BTC's upcoming "halving" in April. After this event, the daily supply of new coins will be reduced from 900 to 450👻, pushing prices even higher.🚀
BTC recently hit $64,000, nearing its all-time high. With a 42% gain in February, it's on track for its best monthly performance since December 2020.
We're currently in a prime position as there's not enough Bitcoin to meet demand. Many now believe that a price target of $160,000-$180,000 for this year is on the horizon and an eye-popping $350,000 to $450,000 per coin in 2025.😀💵
However, the supply crunch has other contributors. The US Govt holds 215,000 BTC, and institutional buyers like MicroStrategy are acquiring significant amounts, further constraining supply.🍺 Yet, the potential sale of government-held BTC or institutional profit-taking could alter this balance.
Some believe that the current rally is not solely driven by fundamentals, as psychological factors, like the fear of missing out (FOMO), play a significant role.
In the midst of this surge, ETFs have made bitcoin more accessible to a broader investor base. As the crypto market continues to evolve, the interplay between supply and demand remains a key driver of bitcoin's unprecedented price rally.
Gear up for the greatest wealth transfer in human history! What a time to be alive!✨
LIVE
