Posted 12/19/2023, 5:51:00 PM
Bitcoin Soars Over 150% as Institutions and Miners Strengthen Network Before 2024 Halving and Possible Spot ETF
- Bitcoin price surged over 150% in 2023, outperforming stocks, bonds, and gold
- Institutional interest grew, with 12 ETF applications from major firms like BlackRock and ARK
- Bitcoin mining power increased 100% year-over-year to 482 exahash, further securing the network
- The next Bitcoin "halving" will happen in late April 2024, reducing new supply by 50%
- Spot Bitcoin ETF approval seems likely in January 2024, opening floodgates of new capital