Bitcoin ETF

Bitcoin

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-to-new-heights-as-market-preps-for-halving" rel="noopener noreferrer nofollow">Bitcoin Climbs to New Heights as Market Preps for Halving</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-bold-ascent-analyst-eyes-5-trillion-market-value" rel="noopener noreferrer nofollow">Bitcoin</a>‘s valuation has surged past the $73,000 mark, astonishing the market as it stabilizes at this new high. Just a short time prior, reaching the $60,000 milestone was a significant challenge, but it now represents a base for potential price adjustments. The cryptocurrency’s price settling at higher levels suggests that price drops to the $70,000 range may soon become a new normal, with any such future dips likely prompting exaggerated market reactions.</p>
<h2 id="impact-of-halving-on-bitcoin-mining">Impact of Halving on Bitcoin Mining</h2>
<p style="text-align: justify">Miners, the linchpin of Bitcoin network <a href="https://en.bitcoinhaber.net/sec-twitter-account-hacked-false-bitcoin-etf-approval-announcement-shakes-crypto-world" rel="noopener noreferrer nofollow">security</a>, face a direct impact from the impending halving event, which will slash their block rewards to 3.125 BTC. Anticipating the financial strain, <a href="https://en.bitcoinhaber.net/revolutionizing-bitcoin-mining-the-rise-of-nft-miners-and-the-liquid-hashrate-concept" rel="noopener noreferrer nofollow">mining</a> operations have spent a whopping $1 billion on new hardware, drawing their Bitcoin reserves to a three-year low. An assessment by Fidelity’s Daniel Gray highlights that mining businesses are banking on sufficient reserves to navigate the profitability challenges post-halving.</p>
<p style="text-align: justify">Helping to ease the miners’ burden, the recent price rise of Bitcoin, fueled partly by ETFs, has allowed mining companies to sell their holdings at profitable rates, securing funds for operational costs. Concurrently, the surge in crypto and equity markets has significantly boosted mining companies’ stock prices, further facilitating their financial strategies.</p>
<h2 id="comparing-spot-bitcoin-etf-influence-and-halving">Comparing Spot Bitcoin ETF Influence and Halving</h2>
<p style="text-align: justify">Debate arises when contrasting the effects of the imminent Bitcoin halving with the January introduction of spot Bitcoin ETFs. Analyst Nardini from B Riley Securities argues the ETFs should be prioritized, citing their role in fostering adoption, influencing short-term prices, and unlocking long-term growth potential. The U.S. legitimizing Bitcoin through these ETFs is also seen as a substantial gain for the cryptocurrency.</p>
<p style="text-align: justify">The interplay of the halving, ETFs, and Web3 narratives is creating a unique FOMO that extends beyond crypto exchanges. Traditional finance investors are dabbling in the crypto markets with increased fervor, akin to gambling, driven by the novel experience of ETF-related enthusiasm. The prospect of cash influx via ETFs is also poised to exceed that from crypto exchanges, promising a substantial market impact.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-to-new-heights-as-market-preps-for-halving" rel="noopener noreferrer nofollow">Bitcoin Climbs to New Heights as Market Preps for Halving</a></h5>

Bitcoin Climbs to New Heights as Market Preps for Halving

Table of Contents

BH NEWS

Other articles published on Mar 13, 2024

OKX gets in-principle approval for payment institution license in Singapore

Bluewhale Secures $7M in its Latest Funding Round

DeeStream (DST) and Polkadot (DOT) Gaining Investment: Streaming Landscape Predicted to Reach Unp...

Top Crypto Gainers Today Mar 13 – IoTeX, ApeCoin, Quant, Synthetix

Bitcoin ETFs Exhibit Strong Demand Overcoming New Supply

Bitcoin Prepares for Correction Before Next Halving

Join our free newsletter for daily crypto updates!