Analysts Say Bitcoin is Twice as Scarce as Gold After Halving
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Analysts Say Bitcoin is Twice as Scarce as Gold After Halving
Liputan6.com, Jakarta Analysts at leading crypto exchange Bybit revealed Bitcoin (BTC) will become increasingly scarce after each halving. According to him, the 2024 Bitcoin Halving will make Bitcoin twice as scarce as gold.
Reporting from CryptoPotato, Thursday (18/4/2024), Bybit said the model stock-to-flow (S2F) Bitcoin strengthens its claim as its metrics show BTC becoming scarcer than gold after each halving. The S2F ratio is calculated by dividing the circulating supply of a commodity by its annual production to obtain a measure of scarcity.
Currently Bitcoin's S2F ratio is around 56, while gold is 60. After the halving, Bitcoin's ratio is expected to double to 112.
Strengthen Supply
The halving will slow supply by reducing the rate of BTC production, and a supply squeeze may be inevitable. Bitcoin is already seeing early signs of a downturn, which will worsen post-halving.
While halvings are known to trigger bitcoin price increases, analysts see this cycle as a complex one and are still unsure about the impact of the upcoming event as BTC has recorded new record highs.
Some people believe that the rally post-halving will not be as intense as the market experienced after past events. Nevertheless, market experts believe demand will drive BTC's post-halving surge this time as Bitcoin ETFs reach their full potential.
Analysts Say Bitcoin is Twice as Scarce as Gold After Halving
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#Analysts #Bitcoin #Scarce #Gold #Halving
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