- Bitcoin has achieved its highest weekly, monthly and quarterly closing levels.
- The upcoming halving is expected to reduce the daily supply from 900 to 450.
2024 has been an unprecedented year for Bitcoin (BTC), from the launch of the ETF to the next halving.
In a recent conversation on CNBC’s “Squawk Box,” investor and “Pomp Podcast” host Anthony Pompliano highlighted the role of the king coin in the financial landscape.
he saw,
“We reached a very important milestone before stopping. We had the highest monthly and quarterly weekly close for Bitcoin.
This highlighted the volatility of Bitcoin prices, which always attracts a wave of speculators looking to take advantage of market momentum.
Bitcoin and its different approaches
Highlighting the complex nature of Bitcoin and its purchasing power, Pompliano said the real impact of this milestone will only become apparent in retrospect.
He explained in detail,
“I think for some people it’s asset risk and for others it’s a hedge against inflation or the reserve price.”
With concerns about currency devaluation and rising inflation, many people see Bitcoin as a hedge against wealth loss.
The idea became popular after influential investors and hedge fund managers praised BTC as “digital gold,” a way to hedge against the decline of traditional currencies.
Pompliano said that, drawing parallels with historical patterns of Bitcoin price movement,
“The last four times this has happened, Bitcoin has increased by at least 300% during the remainder of the bull market.”
This underlined the unprecedented nature of the milestone ahead of the halving, pointing towards potentially bullish implications.
Next Bitcoin Halving
As the Bitcoin halving approaches, Pompliano noted that the daily supply of King Coin will drop from 900 to 450, signaling a significant change in the cryptocurrency’s supply dynamics.
With ETF approval and demand expected to increase following the daily Bitcoin supply halving, the future looks bright.
This is an automatic translation of our English version.