Bitcoin Magazine: Spot Bitcoin ETFs Saw Largest Inflow In a Month

2024 has been a strong year for bitcoin. The cryptocurrency hit new all-time highs, and went through its fourth halving cycle. Both point to strong price returns from here. However, prices have been consolidating over the past few months.

That doesn’t mean the party is over. Looking at investment capital, the bitcoin ETFs that were approved earlier this year are seeing a strong inflow. That bodes well for further gains.

Plus, bitcoin tends to struggle a bit in the immediate aftermath of a halving.

However, unlike any other asset, bitcoin are issued every 10 minutes. The rate of issuance can be slightly adjusted based on the bitcoin network’s performance. But the total maximum supply remains fixed.

That means that any change in demand will have no impact on price. And bitcoin’s fixed supply suggests that it will continue to advance in price for decades to come.

However, bitcoin is prone to sharp pullbacks. It doesn’t move in a straight line.

With money continuing to flow into bitcoin investments, a future price increase looks likely. It may take time to play out, and will be prone to pullbacks like the one underway now.

But with more capital flowing into bitcoin, it’s an asset that could soar in the second half of the year. It doesn’t matter if that happens via direct investments or if bought by an ETF on behalf of investors.

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