Bitcoin Would Go ‘Ballistic’ Based On This
Woo’s analysis delves into the profound implications of the impending Halving, particularly regarding Bitcoin’s supply dynamics. The cryptocurrency experiences an annual supply growth rate of 1.7%, which will be halved to 0.85% following the upcoming event.
This reduction favors Bitcoin’s supply growth rate compared to traditional assets like gold, which boasts an annual supply growth rate of approximately 1.6%.As the USD supply growth trends back to a standard range of 5% to 10%, Woo anticipates a momentous surge in Bitcoin’s price, driven by its inherent scarcity and growing recognition as a hedge against inflationary pressures.
10 days to the halvening… ‘s annual supply growth drops from 1.7% to 0.85%. This beat’s gold’s number of 1.6% (gold supply doubles every 44yrs) USD is -1.7% right now in its fight against inflation. Normal range is 5-10%, when it reverts, BTC goes ballistic. — Willy Woo (@woonomic)
Diverging Perspectives On BTC Trajectory
While Woo’s bullish forecast sets an optimistic tone for Bitcoin’s future, recent from a consumer survey conducted by Deutsche Bank present a more nuanced perspective.These individuals anticipate Bitcoin’s value to plummet below $20,000 by year-end, representing a stark deviation from the prevailing bullish sentiment.
Adding to the discourse, Authur Hayes, co-founder of BitMEX, offers a dissenting view characterized by a bearish outlook on Bitcoin’s post-halving performance. In a comprehensive analysis shared via a , Hayes outlines his concerns regarding the potential for a significant price decline after the halving.
While many analysts anticipate a bullish rally during the halving period, Hayes posits a scenario in which Bitcoin experiences a more subdued trajectory, emphasizing the need for careful consideration amid heightened market volatility. Featured image from Unsplash, Chart from TradingView