{"id":568356,"date":"2024-01-06T10:05:21","date_gmt":"2024-01-06T10:05:21","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=568356"},"modified":"2024-06-11T07:51:18","modified_gmt":"2024-06-11T07:51:18","slug":"etf-or-halving-analyst-doubles-down-on-bullish-year-for-bitcoin","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/etf-or-halving-analyst-doubles-down-on-bullish-year-for-bitcoin\/","title":{"rendered":"ETF Or Halving: Analyst Doubles Down On Bullish Year For Bitcoin"},"content":{"rendered":"

Bitcoin (BTC) began 2024 on a positive note gaining by 3.18% in the first week of the year, according to data from CoinMarketCap.<\/a> <\/span>The premier cryptocurrency is expected to herald in a bull crypto season, with many investors expecting immediate approval of Bitcoin spot ETF proposals by various asset managers.\u00a0<\/span><\/p>\n

However, regardless of the decision of the US Securities and Exchange Commission (SEC)<\/a> in the next few days, crypto analyst Ali Martinez believes Bitcoin is still poised for massive gains in 2024 as there is another bullish factor in play.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Forecast: Analysts Caution Against Missing Out As BTC May Surge To $500k With ETF Launch<\/a><\/div>\n

Bullish 2024 For Bitcoin With Or Without ETF Approval – Analyst<\/strong><\/h2>\n

In an X post<\/a> on January 6, Martinez expressed much optimism about Bitcoin\u2019s potential price performance in 2024. <\/span>He stated that irrespective of developments in the Bitcoin spot ETF saga, BTC is still set for major price surges due to another bullish narrative – namely, the Bitcoin Halving.\u00a0<\/span><\/p>\n

To explain, the Bitcoin Halving is an event in which the block rewards for miners are reduced by 50%. It happens every four years, with the first occurrence being in 2012. <\/span>The halving event causes a reduction in BTC supply in comparison to demand, causing scarcity which leads to a price increase.\u00a0<\/span><\/p>\n

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Whatever happens with the #Bitcoin<\/a> ETF, remember we have another bullish narrative this year: The $BTC<\/a> Halving!<\/p>\n

It has historically been a catalyst for major price surges. Just take a look at the percentage increases in #BTC<\/a> price following past halvings. \ud83d\udc47 pic.twitter.com\/FF1F99l34c<\/a><\/p>\n

— Ali (@ali_charts) January 5, 2024<\/a><\/p><\/blockquote>\n