While stocks are off to a mixed start this week, Bitcoin (BTCUSD) is pushing higher once again, bolstered by expectations for the imminent approval of spot Bitcoin exchange-traded funds (ETF) as soon as Wednesday. The widely anticipated move is expected to make the cryptocurrency more appealing to institutional and retail investors alike, potentially bringing waves of fresh capital into Bitcoin.
And that’s not the only positive catalyst for the cryptocurrency. Every four years, the amount of BTC in supply is cut by 50%, which increases demand for the largest cryptocurrency. The next “halving” event is scheduled in April 2024, and BTC has already surged around 70% since the end of April 2023.
Historically, Bitcoin has experienced four-year bull-bear cycles. It typically gains momentum six months prior to the halving event, which occurs every four years, and the bull run ends roughly 18 months after the halving…
