Bitcoin's Recent Pump Driven by Post-Halving Supply Shock, Not Trump's Election Victory: Analysts

11/12 03:37

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According to Onramp Bitcoin co-founder Jesse Myers, Donald Trump's election victory is not the main reason for Bitcoin's recent price increase. Instead, Myers points to a supply shock caused by the halving of Bitcoin rewards in April, which has led to a shortage of supply to meet demand. Onchain analyst James Check also believes that Bitcoin's scarcity and the limited amount of Bitcoin left to be mined will lead to further price increases. American financier Anthony Scaramucci predicts that the US will establish a strategic Bitcoin reserve and other countries will follow suit.

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