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Max Keiser commented on a tweet by X user @Vivek4real_, who stated that the Bitcoin supply held on cryptocurrency exchanges is drastically dropping now, hitting all-time lows. “Supply shortage incoming,” @Vivek4real_ tweeted.Keiser stated that he expects $220,000 to be reached as a result of the “God candle” on a Bitcoin chart.
Before the Bitcoin halving finally occurred in the second half of April, Mow named reasons for Bitcoin’s potential $1 million increase – “a supply shock meeting a demand shock.” What he meant by this was that spot Bitcoin ETFs, which began to trade in January and also began to aggressively buy roughly 10,000 BTC per day, created a demand shock for Bitcoin.
As for the supply shock, Samson said that it would be the halving that would take care of that. Indeed, now that this fundamental event is behind us, the daily production of Bitcoin by miners has fallen from 900 to 450 BTC as block rewards dropped from 6.25 to 3.125 BTC. The ETFs, including BlackRock, Ark Invest and VanEck, continue to suck Bitcoin up from the market.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017.
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