WHY BTC WILL NOT FALL PAST THE HALVING THIS YEAR.
As you know, in previous cycles, BTC always had sharp declines before the next Halving.
- 1st Halve: November 28, 2012 -
$BTC collapsed ~16% - 1 month before the event
- 2nd Halve: July 9, 2016 -
$BTC collapsed ~37% - 3 weeks before the event
- Halve 3: May 11, 2020 -
$BTC collapsed ~57% - 2 months before the event.
However, this time, I personally think it will not decrease too sharply because firstly, it will be difficult to have an economic black swan like in 2020.
Second, because the ETF is approved. Organizations registering for ETFs want to manage many assets from retail investors to earn management fees, so they need to make the market more exciting so that new investors tend to bring money into the investment market. Invest in BTC.
Grayscale's case is special because it held a large amount of BTC before the ETF, gained a lot of profit, so part of it was sold off and then bought back at a low price. Furthermore, GBTC's management fee is the highest, so investors tend to sell and switch to ETFs of other funds.
Guys, just collect the goods and be confident.
#tacapital