BITCOIN HALVING HEADACHES INCOMING!! | Massive $68 Trillion Wealth Transfer Bullish For BTC

Play episode
Bitcoin Halving 2020

➡️ OPM Wealth:

A crypto analyst known for applying the stock-to-flow ratio to Bitcoin says BTC is facing a number of headwinds as the 2020 halving approaches.

The Bitcoin halving, which happens about every four years, will slash the supply of new BTC entering the market in half this May.

The pseudonymous analyst known as PlanB says Bitcoin’s supply schedule is strongly linked to the BTC price.

He was the first to apply the stock-to-flow model to the Bitcoin price, which tracks the circulating supply of an asset against the amount of new supply hitting the market.

Often used to track the price of gold and precious metals, PlanB says the ratio is strongly correlated with Bitcoin’s past price movements and shows BTC hitting a high of $1,000,000 within a decade.

But with the BTC halving on the horizon, PlanB now says Bitcoin (BTC) has a number of issues to overcome, including regulatory uncertainty in the US, hacks and concerns about large sales of Bitcoin from crypto hackers and the seemingly never-ending fallout from the collapse of the crypto exchange MtGox.

Massive $68 Trillion Wealth Transfer Bullish for Bitcoin (BTC), Says Crypto Influencer

A looming, massive transfer of wealth is one of the single largest reasons to be bullish on Bitcoin, according to crypto influencer Nick Chong.

Chong, a journalist and marketer at the HTC Exodus Bitcoin division, says Millennials will likely funnel a portion of inherited wealth from their parents and grandparents into BTC, a shift that bodes well for the leading cryptocurrency’s long-term prospects.

“Bitcoin’s most bullish statistic: millennials will inherit $68 trillion from baby boomers. Why? Confluence of distrust in institutions, devaluation of fiat, shift from gold to BTC, and the growth of digital tech will make Bitcoin investing a no-brainer.”

Cerulli Associates, an asset management research firm, estimates nearly 45 million US households will hand over $68.4 trillion in wealth to heirs and charity in the next quarter century.

Chong cites an April 2019 report from venture capital firm Blockchain Capital, which indicated that millennial interest in Bitcoin was increasing despite the bear market at that time. 

Wrote Spencer Bogart, a general partner at the firm,

“Younger demographics appear most inclined to purchase Bitcoin: 42% of those aged 18–34 said they are ‘very’ or ‘somewhat’ likely to purchase Bitcoin in the next 5 years — up 10 percentage points from 32% in October 2017.”

Follow Us:

➡️ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor:

🔥 Blog/Podcast:

🔥 Subscribe on YouTube:

🔥 Subscribe on iTunes:

🔥 Subscribe on Stitcher:

🔥 Subscribe on TuneIn:

🔥 Follow on Twitter:

🔥 Join our Private Crypto FB group: ►

🔥 Join our Private Crypto Telegram group: ►

🔥 Binance – Buy, Sell or Trade Over 400 Altcoins: ►

🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ►

Ledger: ►

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Join the discussion

More from this show

Episode 142