Bitcoin ETFs Rise Amid Halving Event; Market Impact Unclear
Bitcoin Spot-ETFs and the Halving: Two Exciting Events
Bitcoin Spot-ETFs are attracting attention, but the upcoming halving should not be overlooked. Historically, halvings have often led to bull markets for Bitcoin. As Bitcoin becomes scarcer, investors show a greater willingness to hold (HODL) their coins.
Halvings and Their Impact on the Bitcoin Price
Halvings are quarterly events that halve the block rewards for miners, thus reducing the number of tokens in circulation. This can increase demand for the reduced supply. Historically, these events have often yielded high returns. For example, Bitcoin rose by 1263% between the halvings of 2016 and 2020. Before this period, in the phase from 2012 to 2016, Bitcoin even experienced an increase of 5187%.
Investors and the Halving
Another interesting aspect is that investors tend to hold more Bitcoin in the run-up to a halving than is freshly mined in a month. This is an unusual development that has rarely been observed in the past. It suggests that the investors’ strategy is changing – probably due to the fact that Bitcoin is becoming scarcer and harder to buy back once it has been sold.
Spot-ETFs and Public Interest
While institutional interest in Bitcoin ETFs in the US is increasing, private investors seem less enthusiastic. According to a study by CoinGecko, the US ranks 12th among countries with the greatest interest in Bitcoin ETFs. In fact, interest in the US is less than half of the interest in Luxembourg, the country with the greatest interest.
Conclusion
There is still more than three months until the next halving. Until then, the focus remains on the ETFs that have not yet been approved. The lack of enthusiasm for the ETFs could be a cause for concern, but it is too early to draw definitive conclusions. It remains exciting to see how these two events will impact the Bitcoin market.
Sources: AMBCrypto, CryptoQuant, CoinGecko
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