Trump's Win Isn't the Key Factor in Bitcoin's Rise

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by Giorgi Kostiuk

2 years ago

Amid recent political events in the USA, analysts emphasize that Bitcoin's price rise is not solely due to this factor. The focus is primarily on post-halving and its market impact.

Post-Halving and Supply Shortage

The Bitcoin halving in April reduced block rewards from 6.25 BTC to 3.125 BTC, creating tougher mining conditions and a supply shortage. Jesse Myers stated that the situation demands a supply-demand price restoration, achievable only by a price increase.

Comparison with the Gold Market

Analyst James Check compared Bitcoin's market cap with gold, noting that gold has added around $6 trillion in the past year, while Bitcoin remains a scarce asset with a $1.6 trillion market cap.

Experts' Opinions and Future Forecasts

Financier Anthony Scaramucci expressed confidence that the US will establish a strategic Bitcoin reserve, with other countries likely to follow. He pointed that it's not too late for investment, foreseeing significant future price rises.

Thus, the analysis shows that the primary factors for Bitcoin's rise are internal market mechanisms rather than foreign policy. Supply shortages and previous post-halving examples create conditions for further growth.

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