This has already been a huge year for bitcoin (BTC), the word’s biggest and most popular cryptocurrency.
If you’ve been tuned into Banyan Edge, you know that bitcoin’s fourth halving event is coming soon in April.
This means that the current amount of BTC issued for mining a new block will be cut in half, leading to a surge of demand as new supply decreases.
This could lead bitcoin (and other select cryptos) to massive gains in the near future…
But bitcoin has been gaining momentum since earlier this year.
Let’s take a quick look at this crypto’s trajectory for the past few months — and why BTC is not the only investing opportunity you can take advantage of before next month’s halving.
Bitcoin’s Momentum Began with 11 ETF Approvals
After years of struggle and indecision from the SEC, 11 bitcoin exchange-traded funds (ETFs) were approved in January 2024.
(Already there’s been talk of ETFs for Ethereum (ETH) and Solana (SOL) next.)
Bitcoin ETFs are a step removed from owning the actual asset itself, leading to the possibility that an asset manager could create unbacked BTC shares.
However, that doesn’t mean they aren’t trustworthy. Of the 11 approved ETFs, some are being managed by big names such as BlackRock, Fidelity and Invesco.
These asset managers would face heavy reputational risk if they were found to be creating unbacked ETF shares, especially because these names are historically known for safely and reliably handling other types of ETFs.
Right now, BlackRock, Grayscale and Fidelity ETFs are responsible for 90% of BTC ETF trading volume…
But BlackRock and Grayscale are leading this charge.
💡 Investing Tip: BlackRock and Grayscale charge 0.25% and 1.5% in fees, respectively, so BlackRock’s iShares Bitcoin Trust (Nasdaq: IBIT) may be the better ETF investment.
But before you buy into an ETF, you’ll want to keep reading. Because we have an even better crypto investing opportunity for you…
Chart of the Day: Bitcoin’s Incredible Rally
This chart shows the trajectory of BTC since January 10, 2024, when those ETFs were approved:
In January, BTC was still trading around the $40,000 to $45,000 mark, even briefly dipping below $40,000 after the ETFs were approved.
However…
BTC continued to reach new heights throughout the next few months. It hit the $50,000 milestone in mid-February, then $60,000 by the end of the month.
See that top spike in March?
That’s when bitcoin’s price reached an all-time high of $73,800 on March 14.
This is an incredible three-month rally … and it’s not over yet.
Which is partly due to the ETF approvals and the increasing interest in bitcoin (and cryptocurrency in general).
According to Andrew Prince, research analyst and crypto specialist:
Just in the past [couple of weeks], bitcoin ETFs saw inflows of 30,000 BTC. [Crypto] exchanges and miners and all these known entities hold about 3 million BTC.
At this point, the other nine bitcoin ETFs hold more BTC than Grayscale, which used to be the biggest holder of bitcoin. It was a trust and then later converted into an ETF.
With these institutions all starting to buy up all this bitcoin, it’s estimated that over the next six months, the amount of BTC available to buy is going to start coming down.
Meaning, that retail investors like you and me might have a hard time getting our hands on BTC for a decent price, or even at all.
Which also means, the time to invest in crypto is now.
Because as we told you last week: “A rising tide lifts all boats.”
This is why bitcoin’s fourth halving won’t just affect BTC. It’s going to raise other cryptos as well.
Ian King, our resident crypto expert, agrees…
How Bitcoin’s Price Soars After Each Halving Event
Ian’s latest research in the crypto market has led him to study previous halving events.
He discovered that after each one, stemming back from 2012, 2016 and 2020, bitcoin’s price surged exponentially within a year of each event:
These would have been incredible gains for bitcoin investors who got in at the right time. And this next halving in April could see BTC soar even higher.
As Ian shared on Tuesday:
“I believe BTC’s price could reach $100,000 or higher in this halving cycle — as demand far outpaces the newly constrained supply.”
And bitcoin isn’t the only crypto that will benefit from the halving.
Ian has pinpointed a pattern in the overall crypto market from previous cycles. That pattern showed that the share price of certain cryptos rose right along with bitcoin…
But a handful of cryptos even beat BTC’s gains.
Ian has figured out how to spot them.
That’s why investing in these coins now, before the halving, could result in a six- to seven-figure payday.
If you want to learn more about which coins Ian is investing in, just go here to learn more.
Or watch his brand-new webinar below:
Start watching “The 4th Halving”:
(Or read the transcript here.)
📩 Questions? Send them to [email protected].
Happy Sunday!
