After reading quite a few posts that 'this time is different' concerning the bitcoin halving and how price may not explode like previous occasions, although I disagree with this thesis as it just sounds like just an obtuse point of view, I thought I would approach it as being true and if true, what fundamentals could cause bitcoin to break the ATH level without the halving taking place and causing a supply shock?
So one angle I thought not many 'analysts' and the like are not looking at is the power of marketing of all these companies that may/likely? get their ETF approvals in February.
Firstly looking at Blackrock. It seems that they (not surprisingly) are at the forefront of marketing strategy with a lot of focus on social media marketing utilising 800 companies that are partners with them around the world. https://iide.co/case-studies/marketing-strategy-of-blackrock/.
Fidelity spend on average over $100 million in advertising over the last few years.
So surely, once the Bitcoin ETFs are approved there will be a massive influx of money dedicated to advertising the new Bitcoin ETFs and then flowing through the entire crypto market even if a halving situation has no effect.
Also looking since the first gold ETF in 2003 in Australia, the price of gold nearly 4Xed from $550 to its top to $2300 in 2011. This is also involving an asset that doesn't have a scarce supply and a faster rate of liquidity like BTC has.
I really think many are underestimating and overlooking the potential price impact the spot ETFs can be on BTC and the overall crypto market. Also not even mentioning the Ethereum ones.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments