The Current State of Bitcoin Market
Bitcoin recently reached an all-time high price amid significant market volatility. As of last Wednesday's close, Bitcoin ETFs recorded a staggering $7.6 billion in trading volume, marking a historic milestone according to Bloomberg data.
Spencer Halan, OTC Trading Director at global digital asset firm GSR, notes that Bitcoin's price typically experiences substantial growth within 6-12 months after each halving event. The cryptocurrency has undergone three halvings since its inception:
- 2012: Price at $12
- 2016
- 2020
Industry Perspectives on Bitcoin's Future
Bernstein analysts suggest we're entering Bitcoin's "golden age," driven primarily by ETF adoption that could trigger FOMO (fear of missing out) market behavior. This sentiment is echoed by JP Morgan's chief analyst Nicholas Panigirtzoglou, who identifies three key upcoming events that may excite retail investors:
- Bitcoin halving
- Ethereum network upgrade
- SEC decision on spot Ethereum ETF applications
👉 Why experts believe Bitcoin's best days are still ahead
How to Invest in Bitcoin in Canada
Canada boasts a thriving digital currency market with several reputable exchanges operating nationwide. Popular platforms include:
- Canadian exchanges: CoinSmart, Coinsquare, Bitbuy, Newton
- International exchanges: Coinbase, CEX.IO, Coinmama
Investment Methods Comparison
| Method | Pros | Cons |
|---|---|---|
| Direct Purchase | Full ownership | Wallet security concerns |
| ETFs | No storage concerns | Management fees |
| Mining | Potential rewards | High energy costs |
Understanding Bitcoin ETFs
ETFs provide a convenient way to gain exposure to assets without direct ownership. For example:
- SPDR Gold ETF (GLD.US) simplifies gold investing
- Spot Bitcoin ETFs hold actual Bitcoin (unlike futures products)
On moomoo, investors can access 11 tradable Bitcoin ETFs by simply searching "spot Bitcoin ETF."
Risk Considerations
While the Crypto Fear & Greed Index has reached its highest level since 2021, investors should be aware of:
- Extreme volatility
- Lack of intrinsic economic value
- High energy consumption
- Potential links to illicit activities
👉 Essential security tips for crypto investors
Frequently Asked Questions
Q: When is the next Bitcoin halving expected?
A: The next Bitcoin halving is projected to occur in 2024, though exact dates vary based on block production.
Q: What's the minimum investment for Bitcoin in Canada?
A: Most Canadian exchanges allow investments as small as $10-$20, making Bitcoin accessible to most investors.
Q: Are Bitcoin profits taxable in Canada?
A: Yes, the CRA treats cryptocurrency as a commodity, meaning capital gains rules apply to profits.
Q: Which is safer - exchanges or self-custody wallets?
A: Reputable exchanges offer insurance protections, while self-custody gives full control but requires technical knowledge.