Bybit Report: Exchanges Have Only Nine Months Supply at Current Prices Before Bitcoin Halving
Indeed, the halving will make Bitcoin twice as rare as gold, according to the report. "The Stock-to-Flow (S2F) ratio is calculated by dividing the circulating supply of a commodity by its annual production, yielding a gauge of scarcity," the report says. "Bitcoin's S2F ratio is around 56 before the upcoming halving, while gold is 60. After the halving in April 2024, Bitcoin's S2F ratio is projected to double to 112."
Given this institutional investors have been ahead of the curve and positioned for this event in advance, especially since the U.S. approval of Bitcoin Spot ETFs. "Bitcoin is becoming the safest investment choice even for the most sophisticated investors in the crypto field," the report says. "The price correlation between Bitcoin and the rest of cryptocurrency has been consistently high, and investment in Bitcoin has also been regarded as the cryptocurrency with the lowest beta."
"Each Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold," stated Ben Joe, Co-Founder and CEO of Bybit. "This upcoming halving in 2024 will thrust Bitcoin into an era of unprecedented scarcity, making it twice as rare as gold."
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About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-report-exchanges-have-only-nine-months-supply-at-current-prices-before-bitcoin-halving-302118174.html
