Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Grayscale Analyst: There’s Not Enough Bitcoin to Meet All the New Demand, Supply and Demand Dynamics Are Pushing Prices Higher

Grayscale Analyst: There’s Not Enough Bitcoin to Meet All the New Demand, Supply and Demand Dynamics Are Pushing Prices Higher

Cointime2024/03/01 03:41
By: Cointime
BTC-0.03%

According to three analysts working for cryptocurrency fund management companies, as reported by Jinse Finance, since early February, Bitcoin ETF products listed in the United States have been purchasing an average of 3,500 to 4,300 cryptocurrencies per day, far exceeding the 900 cryptocurrencies created by the Bitcoin network each day during the same period. Zach Pandl, research director of Grayscale Investments, said that there simply isn't enough Bitcoin to meet all the new demand, so the natural supply and demand dynamic is pushing prices higher. And because the (supply) "halving" is planned to take place in two months, there may be more supply problems. After the halving, the daily supply of new coins will be reduced from 900 to 450 coins.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

PoolX x Bitget Earn SWTCH promotion
Bitget Announcement2025/09/15 16:00
New spot margin trading pair — AVNT/USDT!
Bitget Announcement2025/09/15 09:50

Trending news

More
1
PoolX x Bitget Earn SWTCH promotion
2
New spot margin trading pair — AVNT/USDT!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,427.95
-0.43%
Ethereum
Ethereum
ETH
$4,522.16
-2.15%
XRP
XRP
XRP
$3
-1.57%
Tether USDt
Tether USDt
USDT
$1
-0.01%
BNB
BNB
BNB
$921.68
-1.28%
Solana
Solana
SOL
$234.94
-2.76%
USDC
USDC
USDC
$0.9999
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2677
-4.36%
TRON
TRON
TRX
$0.3451
-1.11%
Cardano
Cardano
ADA
$0.8638
-3.05%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter