hi this is the intern. i get one free tweet per week. i heard that @here_wallet team is about to drop some serious alpha somewhere. in the next 48h. maybe there's a link in this tweet.
https://t.co/CIZSoIn6sJ
Bitcoin's Scarcity Squeeze is Imminent
Despite the DIP and volatilty, the latest insights from @glassnode reveal BULLISH critical that could shape Bitcoin's trajectory as we approach its fourth halving in April 2024.
As we know, there are only 21 million Bitcoin and supposedly far less (something like 16 million because of lost Bitcoin) so with #Bitcoin hodlers not giving up their SATS, an ETF likely to drop in the coming months, and most of the population not even owning any Bitcoin, the term "#supplysqueeze" is becoming more and more of a reality.
Below, I detail four big factors that could play into this squeeze to get you ready before the entire #Bitcoin and crypto market POPS.
Anticipating the #BitcoinHalving
The #bitcoin community is anticipating the fourth halving, slated for April 2024. This event, historically a catalyst for significant market activity, ensures to halve the rate of new Bitcoin issuance, impacting supply dynamics substantiallyโโ.
Historic Supply Tightness and Investor Behavior
As the halving approaches, #bitcoin supply tightness has reached unprecedented levels. This tightness is partly due to long-term investors hoarding, which significantly exceeds new coin issuance by over 200%โโ. This trend, coupled with a shift in the relationship between Bitcoin's Market Cap and Realized Cap, suggests that new #capital inflows into Bitcoin are having an amplified effect on its valuation.
The Shift to Illiquidity
Recent data indicates a notable decline in available Bitcoin supply. Metrics like #sth Supply have hit multi-year lows, signifying a shift of coins from exchanges to more illiquid wallets. This trend is strengthened by the growing demand for institutional-grade custody solutions and products like #GBTC, further reducing the supply available for tradingโโ.
This dance of supply and demand dynamics, heightened by the impending halving, suggests a potential supply squeeze is on the way. What happens when you can't buy Bitcoin on exchanges anymore? Where will you go? Even further, who will sell it when they see the level of inflation out in the world...
This could be a driving force behind a significant price appreciation, potentially pushing #Bitcoin towards the $40k mark and beyond. The confluence of decreased liquid supply and heightened investor interest in Bitcoin could make the upcoming halving a pivotal moment in its market trajectory.
Read more deep dives like this in Hodlers Herald: https://t.co/c3baXVtQKV
๐Xmas is NEAR #NFTgiveaway ๐
To celebrate, we're giving away 100 limited edition Xmas #NFTs to the #NEAR community.
๐๏ธ 23-26 Dec 2022
To join:
โ Follow @NEAR_Blockchain and @NEARProtocol
โ Quote RT this tweet with something festive โจ
โ Drop your .near address below