Analyst: Expect The Bitcoin “Supply Shocks Of All Supply Shocks” After April
Summary
A crypto analyst is bullish on Bitcoin, expecting a supply shock when miner rewards halve in April 2024. This reduction will make BTC deflationary, potentially increasing prices due to expected rising demand. Spot Bitcoin ETFs have accumulated over 160,000 BTC since their launch in January, and if the current daily inflow of 5,800 BTC persists, it could surpass newly mined coins after halving. This could create a "supply shock of all supply shocks," where demand far outweighs available supply, potentially driving the price up. Spot Bitcoin ETF issuers like BlackRock and Fidelity now control more BTC than MicroStrategy.
