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Bitwise CEO-k Bitcoin Prezioen Rallya $ 100K espero du 2024 BTC erdibitzen ostean
Just a day before Bitcoin halving 2024, BTC price has come under significant selling pressure amid rising geopolitical tensions. In the last 24 hours, Bitcoin price took a dip under $60,000 and recovered quickly thereafter now trading at 5.39% up at a price of $64,510 and a market cap of $1.270 trillion. Amid a lot of FUD following this Bitcoin price volatility, Bitwise CEO Hunter Horsley showed strong confidence in BTC’s ability to surge to $100,000 pot the halving event.
Hunter’s comments came after banking giant JPMorgan stated that the halving is already priced-in and Bitcoin would continue with a downtrend trend after the event on Friday.
Commenting on this development, Hunter stated that investors are “dramatically underestimating the halving”. He added that never before the market has priced in the halving event and this time is no different. Hunter added that Bitcoin has delivered manifold returns in the 12 months following the halving event. Thus, he added that a $100K Bitcoin is just 67% from here onwards.
I think people are dramatically underestimating the halving.
The market has never priced it in before, and won’t have priced it in this time.
For the prior 3 halvings, after investors spent months discussing if it was priced in, here’s what happened in the 12-months after…
— Hunter Horsley (@HHorsley) Apirilaren 19, 2024
Horsley wrote: “The impact of the halving isn’t based on the views of fully deployed existing holders. It’s a function of if there will be meaningful consistent new demand, alongside the reduction in the daily availability of natural sellers. From my seat, I see consistent new demand ahead in 2024 and the setup for an impactful halving”.
High Bitcoin Demand among RIAs and Family Offices
The Bitwise CEO added that geopolitical tensions are no reason for selling Bitcoin, and there are hardly any redemptions from long-term investors.
The CEO of Bitwise observed that currently, numerous RIAs (Registered Investment Advisers) and multi-family offices are quietly investing in Bitcoin and conducting research on it. However, very few of them are publicly discussing their involvement with the cryptocurrency.
In recent meetings, the CEO encountered a large firm that is incorporating Bitcoin into some client accounts while contemplating its role in their investment model. Subsequently, he met with a smaller firm curious about their peers’ activities in the cryptocurrency space, wondering if it’s still primarily retail-driven.
This situation reflects a notable trend where firms are discreetly exploring Bitcoin investment opportunities, preferring to avoid attention. The CEO anticipates that eventually, firms will become more transparent about their involvement with Bitcoin, surprising many observers.
Right now countless RIAs and multi-family offices are buying bitcoin and doing homework.
But almost none of them are saying anything about it publicly. You can scour LinkedIn or firm websites, and you will be hard pressed to find mention of it.
This week I met with a large…
— Hunter Horsley (@HHorsley) Apirilaren 19, 2024
It will be interesting to see how long it takes for Bitcoin to hit a new all-time high and resume its journey towards $100,000.
hurrengo
Bitwise CEO-k Bitcoin Prezioen Rallya $ 100K espero du 2024 BTC erdibitzen ostean
Source: https://www.coinspeaker.com/bitwise-ceo-bitcoin-price-halving-2024/