Bittime - Bitcoin has become a hot topic again, and this time not only because its price is stable at around $64,967. The halving celebration (halving the amount of Bitcoin mined) in 2024 is marked by an interesting coincidence that ignites the enthusiasm of crypto fans.
Bitcoin Halving April 22, 2024
Halving Coincides with the Legendary Date 4/20
Although Bitcoin prices have not shown a significant spike post -halving , its implementation date which falls on April 20 ("4/20") is a highlight in itself. This date is widely known as a day that is synonymous with cannabis culture, adding its own "meme" element to this year's halving event.
Check Today's Crypto Market:
Eric Balchunas, ETF analyst at Bloomberg Intelligence, discovered another interesting fact. As it turns out, the largest Bitcoin ETF in the United States, BlackRock's iShares Bitcoin Trust (IBIT), has recorded a record 69 consecutive days of receiving fund inflows.
"Too perfect to be a coincidence," Balchunas concluded.
Indeed, fund inflows into Bitcoin ETFs overall have slowed since peaking in March. However, IBIT still has not recorded any outflow of funds at all.
Also Read How To Buy Crypto:
The latest data shows positive signs. On April 19, IBIT received nearly $30 million, while the second-largest ETF managed by Fidelity Investments, raised $55 million.
Opinions Are Mixed About Bitcoin ETF Performance
Although Bitcoin ETF fund inflow data looks promising, the latest form 13F report raises concerns that ETFs have not yet fully captured the interest of mainstream investors. Jim Bianco, founder of Biacno Research, rated Bitcoin's investment allocation in the first quarter as a "disappointment."
Check Crypto Prices Today:
However, Balchunas has a different view. He made the analogy that asset managers would treat Bitcoin ETF products like "hot sauce."
"IBIT currently has about 60 holders of record, but they control only 0.4% of the total shares outstanding," Balchunas wrote. "This suggests that most investors are only trying a few at a time, but there are quite a lot of them. This fits with the high daily trading volume and our thesis that ETFs will be used like hot sauce for conservative investors, just as a small addition to their portfolios."
With this unique halving celebration in 2024, the future of Bitcoin and its ETF adoption will continue to be an interesting topic of conversation.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read also:
Exploring Bitcoin Halving Scenarios 2024: Predictions and Investment Strategies
5 Latest Bitcoin Projects Ready to Take Off After the 2024 Halving
Bitcoin Halving in 2024: Market Player Analysis
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.