Institutional Demand and Scarcity Fuel Long-Term Bullish Outlook for Bitcoin
Bitcoin has been in the buzz for months and its recent volatility has not shaken optimism among the crypto market.
Quick overview
- Bitcoin's recent volatility has not diminished optimism, with predictions of it reaching $1 million per coin.
- Only about 2 million Bitcoins remain to be mined, contributing to its scarcity and long-term value.
- Growing retail and institutional interest, along with new investment options like ETFs, are boosting Bitcoin's market presence.
- The current supply constraints and increasing demand suggest a positive outlook for Bitcoin's future.
Bitcoin has been in the buzz for months and its recent volatility has not shaken optimism among the crypto market.
Samson Mow, CEO of JAN3, has expressed his thoughts about Bitcoin’s future suggesting that it could someday reach $1 million per BTC coin. According to his statement, Bitcoin has a fixed supply of 21 million BTC and that more businesses, not only in the financial industry are adapting to digital assets..
At this point, approximately 2 million BTC can be mined, while over 19 million are already in trading circulation.
Only around 2 million Bitcoins remain to be mined, while over 19 million are already in circulation. That scarcity, along with whales getting involved like Harvard’s $116 million purchase and the growing number of spot ETFs makes the case for Bitcoin’s long-term value even stronger.
Mow sees that Bitcoin’s capital is likely to flow back as Ethereum keeps resistance at $4,500 even if altcoins have already put some pressure on Bitcoin’s market share. If Bitcoin (BTC) keeps its resistance at $120,000, it may spark another momentum despite volatility.
Retail and institutional interest continues to grow further. Bitcoin briefly climbed above $121,000, fueled in part by moves that allow retirement funds to invest in crypto, boosting inflows and the broader bull narrative.
At this time of writing, Bitcoin (BTC) is at $120,055.53 with a 1.2% increase over the past 24 hours.
There are fewer Bitcoins for sale now that more people are holding onto them for a long time. These supply problems, along with rising demand from ETFs and corporate treasuries, point to Bitcoin entering a time of structural strength.
These changes show that investors and traders are moving beyond just guessing. Bitcoin is going up now because people have more faith in the economy and institutions. The prognosis stays positive as supply gets tighter and more people start using it. People who are willing to consider long term may find it hard to ignore Bitcoin’s deflationary setup and gaining acceptability.
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