{"id":36409,"date":"2024-11-11T23:50:17","date_gmt":"2024-11-12T04:50:17","guid":{"rendered":"https:\/\/bgodinspired.com\/index.php\/bgodinspired-news\/bgodinspired-business-news\/trump-isnt-the-only-story-driving-bitcoins-price-higher-says-exec\/"},"modified":"2024-11-11T23:50:17","modified_gmt":"2024-11-12T04:50:17","slug":"trump-isnt-the-only-story-driving-bitcoins-price-higher-says-exec","status":"publish","type":"post","link":"https:\/\/bgodinspired.com\/index.php\/bgodinspired-news\/bgodinspired-business-news\/trump-isnt-the-only-story-driving-bitcoins-price-higher-says-exec\/","title":{"rendered":"Trump isn\u2019t the only \u2018story\u2019 driving Bitcoin\u2019s price higher, says exec"},"content":{"rendered":"
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Bitcoin Surge Driven by Supply Dynamics, Not Trump Victory, Analysts Say<\/strong><\/p>\n

In an unexpected twist, analysts are suggesting that Donald Trump\u2019s recent election victory may not be the primary catalyst behind Bitcoin’s impressive rise, which has captivated crypto enthusiasts and investors alike. Instead, market specialists point to a significant post-halving supply shock as the real driver of Bitcoin\u2019s price momentum.<\/p>\n

On November 11, Jesse Myers, co-founder of Onramp Bitcoin, addressed the crypto community on social media platform X, stating, \u201cIf you\u2019re wondering what\u2019s happening with #Bitcoin\u2026 the incoming Bitcoin-friendly administration has provided a recent catalyst\u2026 But, that\u2019s not the main story here.\u201d He emphasized that the timeline of Bitcoin\u2019s supply dynamics is crucial, noting, \u201cWe are 6+ months post-halving.\u201d<\/p>\n

The Bitcoin halving, which occurred in April, slashed block rewards from 6.25 BTC to 3.125 BTC, making each subsequent block more challenging to mine while reducing the reward. This event is critical in understanding market trends, as it leads to a decrease in new supply entering the market. Myers articulated that a \u201csupply shock\u201d has ensued, with current demand outstripping available supply at existing price levels. <\/p>\n

The demand curve has been further intensified by the introduction of Bitcoin exchange-traded funds (ETFs) early this year. On November 11, US Bitcoin ETFs experienced significant inflows, purchasing approximately 13,940 BTC in just one day\u2014far exceeding the 450 BTC mined. Myers predicts, "The only way to do that is for the price to go higher," which could ignite a cycle of increased investment interest manifesting in a bubble-like environment.<\/p>\n

This cyclical phenomenon is not new; analogous price surges followed previous halvings in 2012, 2016, and 2020. Myers suggested that the nature of Bitcoin, wherein new supply is halved every four years, inherently creates a pattern leading to price spikes. This perspective echoes a sentiment shared by on-chain analyst James Check, who compared Bitcoin\u2019s market cap with that of gold, emphasizing Bitcoin’s scarcity. "Bitcoin is just $1.6 trillion in market cap and is absolutely scarce," he stated. As the supply diminishes, and with 94% of the Bitcoin already in circulation or lost, the potential for price escalation remains high.<\/p>\n

The current scenario echoes principles highlighted in biblical teachings, reminding us of the importance of stewardship, patience, and foresight. As Jesus taught in Luke 14:28, \u201cFor which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?\u201d This verse encourages careful consideration and preparedness, principles that resonate in the volatile world of investments.<\/p>\n

Anthony Scaramucci, an American financier, echoed this forward-looking perspective, assuring those hesitant about Bitcoin\u2019s viability that it\u2019s still early for potential investors. He expressed confidence that the U.S. may soon establish a strategic Bitcoin reserve\u2014a move likely to inspire other nations and institutional entities.<\/p>\n

In conclusion, while the election of a Bitcoin-friendly administration may provide context, it is the intricacies of supply and demand that appear to hold the key to Bitcoin’s current upswing. As investors navigate these turbulent waters, it is beneficial to reflect on the broader spiritual lesson here: the importance of being proactive and prepared, balancing worldly investments with thoughtful stewardship. <\/p>\n

In a world where uncertainties abound, let us remember the wisdom from Proverbs 21:5, \u201cThe plans of the diligent lead surely to abundance.\u201d It invites us to remain diligent, wise, and hopeful as we engage with the ever-evolving economic landscape.<\/p>\n

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Bitcoin Surge Driven by Supply Dynamics, Not Trump Victory, Analysts Say In an unexpected twist, analysts are suggesting that Donald Trump\u2019s recent election victory may not be the primary catalyst behind Bitcoin’s impressive rise, which has captivated crypto enthusiasts and investors alike. Instead, market specialists point to a significant post-halving supply shock as the real […]<\/p>\n","protected":false},"author":1,"featured_media":36410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_wp_convertkit_post_meta":{"form":"-1","landing_page":"0","tag":"0","restrict_content":"0"},"footnotes":""},"categories":[5222],"tags":[3591],"class_list":["post-36409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bgodinspired-business-news","tag-bgodinspired-news"],"_links":{"self":[{"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/posts\/36409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/comments?post=36409"}],"version-history":[{"count":0,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/posts\/36409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/media\/36410"}],"wp:attachment":[{"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/media?parent=36409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/categories?post=36409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bgodinspired.com\/index.php\/wp-json\/wp\/v2\/tags?post=36409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}