02/04/2024
4️⃣ Fundamental factors why we're BULLISH 📈about Bitcoin and Crypto in 2024
1. ✂️ 2024 is a Bitcoin halving year , this means from mid-April they'll be 50% less BTC being issued everyday, so BTC supply will drop...
2. 🔶️This year, on the 10th of January the SEC reluctantly approved a number of Spot Bitcoin ETFs, this after a very long battle with SEC chairman Gary Gensler trying his best to not allow this to happen (there's several reasons why he did this, wont go into it here)
From Jan 11 when the Spot Bitcoin ETF began to trade, some of the Biggest Hedgefunds and Investment firms in the world have been piling $100s of million a week into Bitcoin, that includes Blackrock which has $9 trillion in AUM, Franklin Templeton with $1.53 trillion and like 7 other financial Behemoths. First week alone had close to $1bn in net inflows. This points to increased institutional demand for Bitcoin.
Note: #1 reduced btc supply paired with #2 increased btc demand is a recipe for a massive rally!
3. 🗳 2024 is a US election year and the Democrats are the incumbents. This was the case in 2008 when the Bitcoin white paper was published, and in 2012 when Bitcoin began it's first major rally. Many believe, Dems will pump stocks one last time in an attempt to cling to power, they'll do this by turning on the FED money printing machine (they'll find an excuse as always, maybe threat of war etc).
4. In the case of #3 money printing, other asset classes like Gold may also benefit, but Gold is the investment vehicle of choice for +55y/o most young people getting into work force right now are not technology averse, in fact many polls have revealed that Millenials, Gen Z etc would rather own Bitcoin than Gold.
🌟What are your thoughts, will 2024 see Bitcoin price rising higher above $40k? Let us know in the comments
Disclosure: The Blue Investor team may own some of the digital assets mentioned in this post, this write-up should not be misconstrued as being financial advice or an invitation to buy Crypto. Readers are encouraged to do their own research and never invest more than they are willing to lose.
