Famous Investor Believes Bitcoin Halving Event and ETFs are Insignificant

  • Peter Brandt shared his views that the long-awaited Bitcoin ETF approval in the US and the upcoming Bitcoin halving event will be insignificant.
  • Bitcoin halving is a fundamental protocol event where the reward for mining new blocks in the blockchain is halved, effectively reducing the rate at which new Bitcoin is created.
  • Major companies like BlackRock and Fidelity are making efforts to launch a spot Bitcoin ETF, which will track the real price of Bitcoin.

Famous investor Peter Brandt considers the Halving event in 2024 and spot Bitcoin ETFs insignificant: So why?

Peter Brandt Considers Halving and ETFs Insignificant

Bitcoin (BTC) (29)

Peter Brandt, a prominent trader and market analyst, shared his views that the long-awaited Bitcoin ETF approval in the US and the upcoming Bitcoin halving event will be insignificant. This perspective challenges the common market sentiment that sees these events as significant market influencers.

Bitcoin halving is a fundamental protocol event where the reward for mining new blocks in the blockchain is halved, effectively reducing the rate at which new Bitcoin is created. Halving occurs approximately every four years, with the next one scheduled for 2024.

Some investors view halving as a fundamental lever that affects Bitcoin’s price, believing that it operates similarly to supply and demand gravity in traditional economics. The results of the previous two halvings seem to support the notion that Bitcoin’s price has surged significantly.

However, Brandt argues that the markets are designed to anticipate and discount future events, suggesting that the potential effects of Bitcoin halving and a potential Bitcoin ETF have already been realized.

Investment Giants Racing for Bitcoin ETF

Major companies like BlackRock and Fidelity are making efforts to launch a spot Bitcoin ETF, which will track the real price of Bitcoin. Investment management companies like Invesco and Valkyrie have also joined this race. It is believed that this product will lead to a significant increase in institutional investments and cause a price increase.

In fact, some studies predict that the approval of these ETFs could bring in a capital inflow of $30 billion into the cryptocurrency market. These calculations are based on capital flows in Bitcoin ETFs in Canada and other countries.

However, in line with his views on halving, Peter Brandt believes that this event will also be insignificant and goes against the prevailing industry view. According to him, the only real thing that matters is Bitcoin’s position at the top of the food chain, and its relationship with other markets is insignificant.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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