Jesse Myers, co-founder of Onramp Bitcoin, stated that Donald Trump’s election victory is not the primary driver of Bitcoin’s recent price surge. Instead, he emphasizes that the key factor is the post-halving supply shock observed in Bitcoin’s supply. Following the recent halving, the block reward was reduced from 6.25 BTC to 3.125 BTC, leading to a decrease in the new supply of Bitcoin. Myers argues that current demand exceeds supply, necessitating higher prices to rebalance the market. He predicts that this dynamic could initiate a price bubble, akin to those experienced after previous halvings in 2012, 2016, and 2020. Furthermore, he points out that with 94% of existing Bitcoin already mined or lost, only about 1.2 million BTC remain, amplifying supply constraints. Other analysts, such as Anthony Scaramucci, also express confidence in Bitcoin’s future, suggesting the establishment of a strategic Bitcoin reserve in the U.S. and increased institutional interest. Overall, the current market dynamics reflect a convergence of factors contributing to Bitcoin's ascent beyond any single event.

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