Great cryptocurrencies and is the most popular This often determines the price direction of the rest of the tokens in the market. Many analysts predict that the price of BTC will decrease in a short period of time. with the most negative forecasts will fall below $20,000
However, if you look at it positively It can be seen that BTC’s brightest moment is coming before the end of the year as Bitcoin struggles lately. and went through the worst period in September. arrived
This article discusses four key reasons why Bitcoin may have a strong year-end. As well as considering another potential option. Bitcoin BSC – that might do a better job
Bitcoin Halving Sparks Bull Market
1. Among the most important reasons for BTC’s price improvement is the next Bitcoin halving in mid-April. that is approaching
Every halving is the main catalyst for a major bull run in the crypto market.
Halving is a mechanism that cuts the new supply of Bitcoin released to miners in half.
Halving will reduce the reward per block. As a result, the supply is cut in half. This pushes the demand for more coins. make the price higher
As shown in the chart above, each halving has increased the price significantly.
As many crypto investors know that the halving is coming in the next 6 months. This might be a good time to accumulate Bitcoin before the price surges. During the next bull
Setting up Bitcoin ETFs
The establishment of Bitcoin exchange-traded funds (ETFs) is one of the main drivers. of Bitcoin’s recovery in 2023 as the price of BTC nearly doubled from $16,550 in January. It peaked at $31,500 in mid-July.
Major investment firms such as BlackRock, Fidelity and VanEck filed to form earlier this year. Makes your confidence in investing in Bitcoin stronger.
Spot Bitcoin ETFs give investors access to Bitcoin without having to purchase or store it themselves. The ETF manager is the custodian of the assets. It can also be traded on the stock exchange. If approved
At the end of August. The SEC has postponed its approval decision. It’s mid-October instead.
Bloomberg analysts believe there is a “75%” chance of approval before the end of the year. And former SEC Commissioner Jay Clayton said they It is “inevitable” that this approval will cause the price of BTC to skyrocket.
Institutional regulations and investments
For all of the above reasons, large companies and institutions and many financial establishments Remain confident in Bitcoin’s future potential
At the beginning of last year Analysis from the British bank Standard Chartered predicts that BTC will reach $50,000 by the end of 2023 and reach $120,000 by the end of 2024.
Just like Spot Bitcoin ETFs and halvings are important contributors to supply shifts, they also argue that miners are devoting more resources to maintaining the network and selling less BTC, creating a demand imbalance. and supply leading to a bull market
The report states that “The increased profitability of miners per BTC (bitcoin) mined, therefore reducing the net BTC supply will drive the price of BTC higher.”
As regulation of crypto ETFs becomes more comprehensive, the SEC continues to fight various crypto companies in court. But it cannot be avoided.
Such regulations It is expected to help improve the prices of leading cryptocurrencies. This is because general investors will become more confident over time. Demand and prices will increase.
Artificial intelligence (AI)
The growth and development of artificial intelligence (AI) is one of the most important hot topics in 2023.
Companies, investors and governments are rushing to advance AI in terms of the products they offer. and how to manage technology
AI has fully entered the crypto industry. Because many AI tokens had the best performance in 2018. Investors and companies are scrambling to adopt this technology.
The same goes for Bitcoin, where Cathie Wood, CEO of ARK Invest, one of the largest Bitcoin holders, believes AI has enormous potential. to change BTC
Wood spoke on the podcast about the upcoming collaboration between Bitcoin and AI, and tweeted on Twitter: “Bitcoin and AI collaboration could change the way companies manage regulations, resulting in lower costs. and greatly increase productivity I am amazed by what these entrepreneurs are creating.”
ARK Invest also published a report indicating that the company invests Evaluating the importance of AI within investment strategies
And earlier this year, Bitcoin billionaire Arthur Hayes also spoke about AI’s potential in influencing Bitcoin’s price movement, believing that AI will see Bitcoin’s potential over other cryptocurrencies due to its self-sustaining nature. and without human intervention
According to Arthur Hayes, “AI will not rely on anything that governments do. So there is only gold and Bitcoin.”
ChatGPT, the AI system that helped spark the AI movement, also predicts that Bitcoin will reach $35,000 to $50,000 by the end of this year.
Bitcoin BSC – Bitcoin Alternative
With the current BTC price of $26,200, $50,000 BTC would represent a 90% increase.
Bitcoin BSC (BTCBSC) is the newest project. It may outperform Bitcoin and is currently offering a similar price to Bitcoin in April 2011 at $0.99.
Bitcoin BSC just launched this week. and has already raised over $200,000, it is a Bitcoin clone that uses the best parts of the first crypto. but improved
The project is built on Binance Smart Chain and has a proof-of-stake mechanism. Instead of using a mechanism Bitcoin’s proof-of-work means that Bitcoin BSC is more efficient. and can be scaled more It has lower transaction costs. And it’s also more environmentally friendly.
More importantly, Bitcoin BSC offers high returns on staking.
According to the Bitcoin BSC staking dashboard, there are more than 100,000 BTCBSC locked into the staking pool, currently boasting an annualized annual yield (APY) of over 2,000%.
Staking doesn’t just help investors generate returns. But it also provides an incentive to hold the token longer. and reduce sales pressure Resulting in an increase in prices.
BTC20, another Bitcoin clone, was recently launched. It can make nearly 600% profits when it launches on the exchange. Earlier this year, Bitcoin BSC would have similar performance, and Binance Smart Chain would come with significantly lower trading fees than BTC20 on Ethereum.
In addition to being priced the same as Bitcoin in April 2011, Bitcoin BSC will have the same circulating supply, with 4 million tokens set aside for the initial pre-sale and another 2.125 million tokens set aside for increased demand. more It is also priced at $0.99.
That would give the project 6.125 million supply at launch, accounting for 29% of the total supply, and an additional 420,000 (2%) BTCBSC pre-mined. It will be available for liquidity on the exchange.
The maximum supply will be 21 million, similar to Bitcoin, with 14.455 million tokens set aside for the staking pool.
Bitcoin BSC will release its tokens in 120 years’ time, just like Bitcoin, giving the project a significant shelf life. And when the token is unlocked It will create an incentive to hold more.
More information can be found in the Bitcoin BSC project whitepaper and join the Telegram group for the latest news.
Go to Bitcoin BSC
2023-09-16 05:47:00
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