3 Ways 2021 Will Differ from 2017
The upcoming 2025 Bitcoin bull Market is expected to be different from its predecessors in 2017 and 2021, according to Luke Mikic, a podcaster and YouTuber. There are three key reasons that set the 2025 bull market apart.
Firstly, there is a significant increase in the Bitcoin hash rate, which refers to the amount of computing power used to secure the network. The hash rate has reached new all-time highs, even during the recent bear market. This is unprecedented and suggests that nation states are now actively involved in mining Bitcoin. Countries like El Salvador, Bhutan, and Oman have publicly announced their mining activities with the goal of diversifying their economies and promoting renewable energy initiatives. It is possible that more countries are mining BTC in stealth mode.
Secondly, there is a supply suffocation in the market. In previous bear markets, there was an increase in the number of coins on exchanges. However, in the current scenario, the number of coins on exchanges has decreased. Only 5.8% of Bitcoin is currently on exchanges, the lowest since December 2017. This suggests that people are holding onto their Bitcoin and not willing to sell. The supply deficit is expected to stimulate further growth.
Lastly, the entry of Wall Street giants like BlackRock into the Bitcoin market is a significant Development. The approval of the BlackRock Bitcoin spot ETF application could bring trillions of dollars into the market and provide unparalleled legitimacy to Bitcoin. This could attract both retail and institutional investors. Currently, there is a lack of new inflows into Bitcoin, but the approval of a Bitcoin spot ETF could change this and trigger a bull run.
In conclusion, the 2025 Bitcoin bull market is expected to be unique due to the involvement of nation states in mining, the supply suffocation in the market, and the interest from Wall Street giants. Luke Mikic emphasizes that nobody is bullish enough on Bitcoin at the moment. The current price of BTC is $26,058..
#Reasons #Wont
The upcoming 2025 Bitcoin bull Market is expected to be different from its predecessors in 2017 and 2021, according to Luke Mikic, a podcaster and YouTuber. There are three key reasons that set the 2025 bull market apart.
Firstly, there is a significant increase in the Bitcoin hash rate, which refers to the amount of computing power used to secure the network. The hash rate has reached new all-time highs, even during the recent bear market. This is unprecedented and suggests that nation states are now actively involved in mining Bitcoin. Countries like El Salvador, Bhutan, and Oman have publicly announced their mining activities with the goal of diversifying their economies and promoting renewable energy initiatives. It is possible that more countries are mining BTC in stealth mode.
Secondly, there is a supply suffocation in the market. In previous bear markets, there was an increase in the number of coins on exchanges. However, in the current scenario, the number of coins on exchanges has decreased. Only 5.8% of Bitcoin is currently on exchanges, the lowest since December 2017. This suggests that people are holding onto their Bitcoin and not willing to sell. The supply deficit is expected to stimulate further growth.
Lastly, the entry of Wall Street giants like BlackRock into the Bitcoin market is a significant Development. The approval of the BlackRock Bitcoin spot ETF application could bring trillions of dollars into the market and provide unparalleled legitimacy to Bitcoin. This could attract both retail and institutional investors. Currently, there is a lack of new inflows into Bitcoin, but the approval of a Bitcoin spot ETF could change this and trigger a bull run.
In conclusion, the 2025 Bitcoin bull market is expected to be unique due to the involvement of nation states in mining, the supply suffocation in the market, and the interest from Wall Street giants. Luke Mikic emphasizes that nobody is bullish enough on Bitcoin at the moment. The current price of BTC is $26,058..
#Reasons #Wont
