Crypto Investment Firm Makes Date for Bitcoin: Buoyancy Catalyst On The Way!

Galaxy Digital, a leading crypto investment firm, bitcoin He is of the opinion that with the increase in private accumulation, the possibility of a rise also strengthens. In a new blog post published by the company, in addition to the upward expectation, the company also dwells on the possibility of a decline.

Two major supply events loom in the future, one bullish and the other potentially bearish.

Galaxy Digital According to his company, the bullish catalyst will be Bitcoin’s fourth halving event scheduled to take place in April 2024. The halving event occurs every four years and reduces the amount of new BTC entering the market. The contraction in supply has historically been consistent with the upward movement of the price.

It looks like Bitcoin halving will happen in April next year. This means that 450 BTC will be issued daily, which means that the inflation rate will fall below 1%. The previous three halvings (2012, 2016, 2020) seem to have acted as the catalyst for the rise in price.

will take place in 2024 Bitcoin halving You must continue to focus on your activity. The simplest reason for this is that the inflation rate will fall below 1%. This means that it will be even lower than assets such as gold and silver.

Bitcoin price prediction

Galaxy Digital Is Very Hopeful For Bitcoin Price

Galaxy Digital also points out another bullish trend that is increasing Bitcoin accumulation.

On-chain data continues to point to continued accumulation in BTC. The number of addresses that do not have zero balance continues to increase day by day. More than 45 million addresses currently hold BTC. Many addresses only bought and never sold.

BTC technical analysis

Potential bearish market trigger, bankrupt and dissolved cryptocurrency exchange Mt. Gox is the probability that a large supply of Bitcoin will fill the market as it is transferred to creditors. However, Galaxy Digital considers this unlikely.

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