đ„đ„đ„ #bitcoinprice Soars as Supply Shortage Tightens Market
Bitcoinâs Price Surge: Supply Constraints Take Center Stage Over Political Factors
- In recent analyses, Jesse Myers, co-founder of Onramp Bitcoin, emphasizes that Bitcoinâs price surge is being fueled primarily by its supply limitations rather than political influences. Myers points to the impact of Bitcoinâs halving event, which sharply reduced the #cryptocurrency's new supply, as a significant factor in its rising value.
What Changed in the April Halving?
- Bitcoinâs halving event in April reduced block rewards from 6.25 BTC to 3.125 BTC, cutting the daily Bitcoin production rate nearly in half. With demand remaining strong, this reduced supply has intensified market pressures, reshaping Bitcoinâs price dynamics.
Expert Insights on Current #MarketTrends
- According to Myers, six months after the halving, the effects of limited supply are increasingly evident. He suggests that the widening gap between demand and supply could spark not only price increases but also âmania and bubbleâ conditions. On-chain analyst James Check supports this view, comparing Bitcoin's scarcity to goldâs, enhancing its value potential as a limited resource.
- Investor Anthony Scaramucci is similarly optimistic, hinting at the possibility of the U.S. establishing a strategic Bitcoin reserveâa move that could inspire similar actions globally.
Key Points on Bitcoinâs Supply Constraints
1. 94% of Bitcoinâs total supply has already been mined or is permanently lost.
2. Roughly 1.2 million $BTC remain available for future mining.
3. Historical data shows price rallies typically follow halving events.
Given the current market conditions, Bitcoinâs restricted supply is expected to continue driving prices upward, underscoring the importance of watching its production and demand balance in the coming months.
