Bitcoin Halving Won't Cause A Supply Shock.

Mark Nuvelstijn, CEO of the Dutch cryptocurrency exchange Bitvavo, expressed his belief in the market dynamics that will meet the increasing demand for Bitcoin in 2024.

Mark Nuvelstijn, the co-founder of the Dutch cryptocurrency exchange Bitvavo, made remarks about Bitcoin and market dynamics during the European Blockchain Convention held in Barcelona. Nuvelstijn expressed his belief that exchanges will have enough supply to meet the increasing demand for Bitcoin. He stated that the rising demand will drive up the price, and the price will continue to rise until a balance is established. He also emphasized that exchanges are not concerned about being unable to find Bitcoin to meet this demand and explained that they process buy and sell orders by matching them. Additionally, he discussed the potential impact of the approval and implementation of Bitcoin exchange-traded funds (ETFs) on Bitcoin prices, noting the increasing interest in the crypto market and the rapid price increase. Nuvelstijn also outlined Bitvavo's growth goals and how the European Union's Crypto Asset Regulations (MiCA) could affect the market. He believed that MiCA will open up the European market and increase ease of doing business, making it easier for cryptocurrency companies to offer financial services. Finally, he referred to an analyst report stating that the increase in institutional demand could drive up Bitcoin prices and assist in improving mining profitability.