Bitcoin, the leading cryptocurrency by market capitalization, has reached $60,000 for the first time since November 2021! Since the beginning of 2024, Bitcoin's value has increased by 22.0% and its upward trajectory shows no signs of slowing.
With the 2024 Bitcoin Halving just around the corner in April, anticipation is building among Bitcoin enthusiasts. This upcoming event is one of the most important events in Bitcoin as it will reduce the supply of new bitcoin entering the market.
Economists often highlight that a decrease in supply can lead to an increase in demand. So, when we talk about Bitcoin, as its supply starts to decrease, more investors might want to purchase, potentially driving up its value. Historical data from previous halvings suggest a trend where a price increase typically follows such events.
Tap below to see the history of past Bitcoin halvings and the price performance:
Bitcoin Soars After Past Halvings! Will History Repeat in 2024?
What's next for Bitcoin?
Bitcoin is riding a wave of excitement as we approach the next halving and the introduction of Spot Bitcoin ETFs to traditional markets. People have been engaging in Bitcoin more than ever, especially at iTrustCapital. iTrustCapital provides a platform offering 24/7 access to buy and sell cryptocurrencies, such as Bitcoin, all within the benefits of a tax-advantaged crypto IRA.
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This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not associated with and has no direct relationship with Bitcoin. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
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