Donald Trump’s election win in the USA Bitcoin 
$88,102It is not seen as the main reason for the recent price increase of . According to Onramp Bitcoin co-founder Jesse Myers, a Bitcoin-friendly management contributed to this increase. However, the main factor is the supply shock after the halving.
Halving and Supply Limitation
The halving, which took place in April, reduced Bitcoin block rewards from 6.25 BTC to 3,125 BTC. This development made each new block harder to find and the rewards decreased. Jesse Myers emphasizes that as a result of this, there was a supply shock and there was not enough supply to meet the demand. According to him, increasing the price is the only way to achieve this balance.
Myers says: “Only a price increase can achieve this balance of supply and demand. This increase can turn into madness and a bubble. But that’s the way the market works.”
Expert Opinions and Market Dynamics
Onchain analyst James Check compares Bitcoin’s market value to gold, stating that Bitcoin is durable and rare. He predicts that this will have a positive impact on the price. Anthony Scaramucci, the famous name of the finance world, also states that Bitcoin is just at the beginning and the interest of institutional investors will gradually increase.
Experts state that 94% of the Bitcoins currently in circulation are either actively used or lost, and emphasize that approximately 1.2 million more BTC can be mined through mining. However, the limited available supply puts upward pressure on demand. The upcoming halving event is expected to lead to a similar price increase.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
