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Author Topic: Factors that might affect ATH in BTC price after halving  (Read 176 times)
shinratensei_
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April 09, 2024, 06:34:32 AM
 #21

I will also add the factor that might further increase the price of bitcoin that is the presence of people making L2 for bitcoin trying to urge people to lock their BTC right now so many platform are trying to make L2 for bitcoin such as BEVM, bounceBit and so on, I don't know how good they are, since i haven't skimmed over these project technicality and see whether they are truly reliable, but I think the fact that these project trying to urge people to lock their bitcoin into smart contract and its usually the wrapped bitcoin in ethereum blockchain or other I think it could also increase scarcity of bitcoin.

while the other factor should be the amount of people invested into the ETF it seems like its growing like there's no tomorrow.
so many people are so bullish into bitcoin even at current price $70k the buy demand is still so strong, moreover it just need a little push for it to make breakthrough beyond $70k and im expecting it to happen this month.
never have a doubt with bitcoin price increase as avid bitcoin holder.

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April 09, 2024, 06:54:41 AM
 #22

If it was related to ETFs or Halving, maybe I would accept those reasons that influence Bitcoin's ATH, but the USA vote? I don't think so. Because the US election is not directly related to the price of Bitcoin, unless the election ends in chaos, but even so it also does not have a significant impact on the price of Bitcoin because the most affected is probably the American stock market, not Bitcoin.

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April 09, 2024, 04:53:24 PM
 #23

I think the biggest thing that will impact the halving would be the amount of miners that shut their machines off for a while. This matters because difficulty is high, and until that difficult is adjusted, we are going to see nobody making that much, and most will even lose, unless they are super efficient. During this period, people will lose money and they will stop selling and that will make the price go up.

A lot of people will keep on buying too, specially with this new ETF situation that will not end. So when you think about it, this readjustment period will definitely make it very hard and won't keep it any lower. I believe that the price will skyrocket near 100k levels thanks to this, and should be something nice for holders.

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April 09, 2024, 10:07:16 PM
 #24

If it was related to ETFs or Halving, maybe I would accept those reasons that influence Bitcoin's ATH, but the USA vote? I don't think so. Because the US election is not directly related to the price of Bitcoin, unless the election ends in chaos, but even so it also does not have a significant impact on the price of Bitcoin because the most affected is probably the American stock market, not Bitcoin.
USA election you mean? sometimes there could be some price actions during that time. It's just not that visible for now but the ATH can do some of its move at that time because whoever wins the next president of the US can say such about Bitcoin that will be taken literally by the market. So, there's a possibility that it can move the market a bit after whoever wins the presidency at that rate and because of some speech and if that includes Bitcoin, we're all reactive.

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April 09, 2024, 11:09:23 PM
 #25

Truly, ETF and halving events may be the main factors in the bitcoin price skyrocketing, but I don't think that the USA election has a factor or effect on the bitcoin price. I don't see any relation between bitcoin and the USA election; maybe you OP should eaborate this statement. But yeah, I think the main factor in bitcoin reaching and setting up another ATH is ETF approval. After that, you will notice that there is a dip in price that made bitcoin reach $38k, and after that price, the bitcoin price keeps on increasing and climbing up because the demand for bitcoin is getting greater as purchasing bitcoin is much easier. Thanks to ETF approval, many big companies can bring their bitcoin assets legally. And the saga continues. As bitcoin got hyped, so many investors also engaged in buying bitcoin, which made it skyrocket in price. Now we will wait to see if the halving event will make the bitcoin price even higher.

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April 10, 2024, 06:35:31 AM
 #26

I think the biggest thing that will impact the halving would be the amount of miners that shut their machines off for a while. This matters because difficulty is high, and until that difficult is adjusted, we are going to see nobody making that much, and most will even lose, unless they are super efficient. During this period, people will lose money and they will stop selling and that will make the price go up.

A lot of people will keep on buying too, specially with this new ETF situation that will not end. So when you think about it, this readjustment period will definitely make it very hard and won't keep it any lower. I believe that the price will skyrocket near 100k levels thanks to this, and should be something nice for holders.
You have made a brilliant point here. I dont think the ETF and the Macro economical factor will really affect the halving process this year. This is because it has already done that early before now which we saw a new ATH. At first it delayed after the WTF was approved, then slowly adoption started increase and gradually the price of Bitcoin rose. Well, i have no doubt that the miners would not want to shut down their machines for a while. If they do so many things will occur, like high transaction fees because of congestion and as well bitcoin upward movement in price.

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