A Bitcoin Bull Market is Expected Despite ETF Rejections
Crypto analyst Josh Rager believes that Bitcoin will experience another bull run, regardless of whether or not regulators approve any proposed Bitcoin exchange-traded fund (ETF) applications. Rager predicts that the next Bitcoin halving, which is scheduled for April 2024, will cause a supply crisis that will drive Bitcoin into bullish territory. He explains that the impact of the halving on price is typically delayed by a couple of months based on historical data. Rager also highlights that even if an ETF is denied, the supply crisis will likely result in an upward trend for Bitcoin throughout 2024. He further predicts that Bitcoin will enter a full-blown bull market by June 2024.
Key Points:
- Bitcoin halving in April 2024 will create a supply crisis and impact price.
- Historical data shows a delay in price impact after halving.
- The Bitcoin ETF is a significant factor in price, but even without it, Bitcoin will likely continue to uptrend.
- Rager predicts a bull market for Bitcoin by June 2024.
Hot Take:
Despite potential ETF rejections, the upcoming Bitcoin halving in April 2024 is expected to trigger a supply crisis and lead to a bull market for Bitcoin. Historical data supports the delayed impact of halving on price, and analyst Josh Rager predicts that even without an ETF, Bitcoin will continue to rise in value throughout 2024. By June 2024, Bitcoin is expected to enter a full-blown bull market.
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