Peter Brandt: Bitcoin halving and ETF are much ado about nothing
Trader Peter Brandt challenges common beliefs on Bitcoin (BTC) halving and the prospect of a US Bitcoin ETF. Noted trader and analyst Peter Brandt has challenged the hype over two pivotal Bitcoin events: the forthcoming halving and the potential approval of a US Bitcoin exchange-traded fund (ETF). Three things I believe about Bitcoin 1. The inevitable OK of a $BTC ETF in U.S. will be non-event 2. BTC halving will be a non-event Markets discount in advance 3. BTC's correlation to other mkts is a non-starter. BTC will be top of food chain. That's the only thing that matters pic.twitter.com/2l0CxAyZ4T — Peter Brandt (@PeterLBrandt) July 27, 2023 The Bitcoin halving , a protocol tweak happening roughly every four years, halves the reward for mining new blocks. The next one is slated for 2024. Many Bitcoin fans see this as a significant price booster, likening it to supply-demand economics. They say that a decrease in new Bitcoin production could spur a supply shock and...