Recently, Bitcoin attained a new all-time high and surpassed its previous record of November 2021.
The largest cryptocurrency went beyond $73,000 for the first time since its inception.
For many, this new rally ignites a renewed interest in cryptocurrency investment.
In January of 2024, the SEC approved several exchange-traded funds known as spotBitcoinETFs.
Now, investors can get Bitcoin easily by just owning a share in their brokerage accounts and IRAs.
This safety is one of the factors that have spurred the rally of Bitcoin in recent months.
Bitcoin Halving
TheBitcoin halving eventhas taken place every four years since its inception.
While the event happens every four years, there is no particular date for the next halving.
This halving will continue till the total Bitcoin supply is mined.
Is it Right to Buy Bitcoin Now?
With the emergence ofbitcoin ETFsand Bitcoin halving close by, is now a good time to invest in Bitcoin?
Previous instances of the halving events have made the asset soar considerably.
But there are various reasons why Bitcoin rises or falls, and sometimes, they dont always make sense.
Since the ETF, the demand for Bitcoin products has grown exponentially.
BlackRock alone is about to surpass about $5 billion in assets in about 23tradingdays.
This places them in the top 7% of every ETF due to its size.
This shows that the demand for Bitcoin is already outpacing the available supply.
Additionally, more investors intend tobuy Bitcoin instantly, adding them to their assets.
This shows that many are expecting a price increase during the halving.
However, like every other bang out of investment, investors are not guaranteed a moonshot.
Whenever you decide to invest, ensure your portfolio is diversified just like index funds.
You should not invest in speculative assets where you cant afford to take losses.
So, before you buy, think of the motivations behind it.
Do you believe in its long-term investment potential?
Or is it due to fear of missing out?
