Bitcoin

April

James

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/jesse-myers-connects-bitcoins-price-surge-to-supply-constraints-following-halving/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Jesse Myers Connects Bitcoin’s Price Surge to Supply Constraints Following Halving</a><br></p>
<p style="text-align: justify">Following the US election victory, Donald Trump’s influence is not seen as the main reason for Bitcoin’s recent price increase. Jesse Myers, co-founder of Onramp Bitcoin , attributes this surge to a supply shock in Bitcoin, specifically the reduction of supply after the halving event.</p>
<h2 style="text-align: justify" id="halving-and-supply-limitation">Halving and Supply Limitation</h2>
<p style="text-align: justify">The halving that occurred in April reduced Bitcoin’s block rewards from 6.25 BTC to 3.125 BTC. This reduction has made the supply more limited, as the network produces less Bitcoin each day while demand continues to grow.</p>
<h2 style="text-align: justify" id="analyst-opinions">Analyst Opinions</h2>
<p style="text-align: justify">According to Myers, the key development is the surpassing of six months following the halving. The effects of the supply constraint are building up, and current prices indicate that this limited supply cannot meet the demand. Myers stated that due to this supply-demand dynamic, prices are likely to rise, potentially leading to “mania and a bubble.” He commented, “The rise in prices will lead to mania and a bubble.”</p>
<p style="text-align: justify">On-chain analyst James Check also notes that Bitcoin’s supply is as scarce as gold. He emphasizes that Bitcoin’s limited nature significantly raises its potential for price increases.</p>
<h2 style="text-align: justify" id="market-expectations">Market Expectations</h2>
<p style="text-align: justify">American financier Anthony Scaramucci reassures investors by stating, “It’s still early; you haven’t missed the opportunity.” Scaramucci predicts that the US could create a strategic Bitcoin reserve, inspiring other countries to follow suit.</p>
<p style="text-align: justify">Currently, 94% of Bitcoin in circulation has already been mined or lost. Only about 1.2 million BTC can still be produced, and this limited supply intensifies pressure on prices. Historical price increases during previous halving periods lead analysts to believe that the impact of this limited supply and demand pressure will continue in the future.</p>
<p>The post <a href="https://en.coin-turk.com/jesse-myers-connects-bitcoins-price-surge-to-supply-constraints-following-halving/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Jesse Myers Connects Bitcoin’s Price Surge to Supply Constraints Following Halving</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Jesse Myers Connects Bitcoin’s Price Surge to Supply Constraints Following Halving

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