Bitcoin Halving Event Could Trigger Price Surge and Increase Scarcity
The flagship cryptocurrency Bitcoin ($BTC) is on the verge of a significant surge as the supply on centralized exchanges is depleting, making it twice as rare as gold after the upcoming halving event.
Impending Supply Shortage on Centralized Exchanges
– A report by Bybit suggests a potential short squeeze before the halving event
– Only 2 million BTC left on exchanges
– Daily outflow of 7,142 BTC from exchange reserves
– Price surge expected due to supply squeeze
Increasing Scarcity with Each Halving
– Bitcoin becomes scarcer after every halving
– Stock-to-flow model predicts BTC to be twice as rare as gold
– Halving event reduces coinbase reward for miners
Stock-to-Flow Ratio and Scarcity Comparison
– Bitcoin’s stock-to-flow ratio to double from 56 to 112
– Demand for BTC surpasses supply for the first time
– Julio Moreno from CryptoQuant emphasizes the importance of demand over supply
Hot Take: Bitcoin’s Halving Event and Scarcity
Prepare for a potential price surge and increased scarcity in Bitcoin as the halving event approaches, making it twice as rare as gold. Demand is outpacing supply, signaling a bullish trend for the flagship cryptocurrency.
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