Bitcoin is worth more than Visa and MasterCard combined. All cryptocurrency records

This cycle therefore seems a bit out of step with the previous three (Bitcoin is 15 years old, so we are in the fourth four-year cycle). In fact, there is something different this time around. And it is called an Etf. Since 11 January, 10 passive funds that replicate the price of cryptocurrency have landed on Wall Street, with very low fees (0.3% per annum on average). They relieve investors of the thorny issue of custody (those who invest directly in Bitcoin are responsible for the good and the bad of their assets, if they lose their private key they cannot contact any client office) and taxation. The first balance of these products (with BlackRock and Fidelity in the front row) is higher than expected. Net flows exceeded 7.5 billion. And they would have been much larger if in the meantime there had not been 8 billion outflows from GrayScale, whose transition from trust to ETF allowed many investors stranded in the previous 'bear market' to liquidate their positions. BlackRock alone raised over 10 billion in just over a month. If investor demand increases, issuers must buy Bitcoin to keep collateral constant. Purchases mostly take place 'over the counter' (i.e. not on the open market). But some data indicate that Bitcoins available on the 'Otc' circuit are falling sharply, precisely because of the new demand coming from the Etf. Some speculate that a 'supply shock' is underway, a shortage of supply in the face of growing demand. From the 'Etf world' alone, a daily demand of 10-12 times more than the 900 Bitcoins mined each day has arrived in recent days. This number will halve to 450 after halving. These dynamics, totally related to the new balance between supply and demand that the cryptocurrency is seeking, are inexorably influencing the price.

However, great care must be taken. Fomo (fear of missing out), fear of missing the train, can be triggered in these phases. Continuous rises can push even unsuspecting investors, who may not have even studied the whys and wherefores of Bitcoin technology, simply attracted by the price. When investing, and this rule applies as much to a BTp as to a Bitcoin, one must know the instrument one intends to put in one's portfolio. Aware that when you go too high, the air becomes thin. The market has never 'worked' prices so high. The volumes of the past are missing. The references. In this sense, a new game has begun for Bitcoin as of yesterday.