Part 6/16:
Additionally, Bitcoin’s spot ETF approvals are expected to channel enormous inflows of capital into the asset. Notable industry figures like Tom Lee from Fund Strat forecast Bitcoin reaching between $100,000 and $150,000 this year, with some speculating it could hit $500,000 in 3-5 years. CoinShares' CSO, Melton Dez, aligns with this optimistic outlook, expecting prices to stay above six figures by the end of 2024.
The Supply Scarcity and Macro Trends
The upcoming Bitcoin halving, which reduces new issuance from 6.25 to 3.125 BTC per block, is driving much of the bullish sentiment. Historically, halving events have preceded significant price surges, and current patterns suggest that Bitcoin’s scarcity factor is intensifying faster than in previous cycles.