Every week we provide insights into popular assets and hot topics in crypto, so you can easily learn more about the crypto market in bite-sized pieces.
In this Crypto in Focus we take a closer look at Bitcoin.
Is Bitcoin Set to Ignite Again? 🌋
Once again, the oft-declared dead bitcoin is gaining momentum, fueled by a constant inflow of funds into Bitcoin ETFs, which reflects growing institutional interest. The approval of both Bitcoin and Ethereum ETFs earlier this year has itself significantly facilitated the entry of major players into the crypto market, reaffirming the relevance of crypto in the financial world.
With a limited supply of 21 million coins, bitcoin's scarcity reinforces its status as 'digital gold' and a hedge against inflation. As global adoption grows, dwindling reserves on exchanges—driven by investors moving to cold storage—combined with rising demand could lead to a supply shortage, potentially driving its value higher.
While 🔴 September is historically the worst month for crypto, 🟢 October is often one of the strongest. Optimism is also shared by Michael Saylor, who is purchasing bitcoins like never before through his company MicroStrategy, clearly demonstrating his confidence in its long-term potential.
Trading bitcoin CFD offers a compelling opportunity, especially with the option to utilise 2X leverage. This allows traders to manage larger positions and potentially multiply their profits. However, keep in mind that with greater reward comes greater risk.
The question ‘Is Bitcoin Set to Ignite Again?’ is no longer about if, but when.
