Cryptocurrency analysts have long maintained that Bitcoin is a deflationary asset whose limited supply will drive its price to historic highs. The recently released Global Liquidity Chart by the Bitcoin Strategy Platform is a testament to the positive outlook of Bitcoin as it shows that the price of the asset is expected to surpass the $100k mark following the halving event coming up in 2021.
The halving mechanism further drives up the sentiments as it cuts the rate of new coins going into circulation — a move which historically has been seen to drive up the price of Cryptocurrency. The fact that the M2 money stock of the top ten largest economies is nearly above $100 trillion is likely to put more downward pressure on fiat currency, making way for the inevitable rise of Bitcoin.
Recent developments in the cryptocurrency world are a testament to the emergence of Bitcoin as the most dominant asset of the century. After crossing the $29K price point earlier this week, crypto experts have continued to urge investors to buy low on time as Bitcoin is likely to reach a historic high after the fourth halving event takes place next year. The recently added Global Liquidity Chart on the Bitcoin Strategy Platform not only provides a comprehensive view of the amount and flow of fiat currency, but it also indicates a positive outlook for Bitcoin — and the entire crypto space — as the price is expected to exceed the $100k mark after the halving.
Noah Davis
- 2023-05-05
Understanding the Global Liquidity Chart and Bitcoin's Halving Event
A look at the recently released Global Liquidity Chart by the Bitcoin Strategy Platform and the expected impact of the halving event on Bitcoin's price. Learn why experts have urged investors to buy low on Bitcoin as it is likely to reach a historic high after the fourth halving event takes place.
![CandleFocus Bitcoin-Halving-GlobalLiquidityChart-Price-Crypto](https://images.candlefocus.com/Understanding-the-Global-Liquidity-Chart-and-Bitcoins-Halving-Event.jpg)