Bitcoin Bulls Cite a Simple Reason for Its Rally: Not Enough Coins.

Bitcoin's recent rally can be attributed to the basic principles of supply and demand, according to supporters of the cryptocurrency. The launch of US exchange-traded funds (ETFs) holding bitcoin has led to increased demand for the digital currency, prompting the funds to buy more bitcoin and drive up its price. Bitcoin's unique feature is its limited supply, with a maximum of 21 million coins that can be mined. This scarcity, combined with the influx of investment into ETFs, has contributed to the recent surge in bitcoin's value. However, skeptics still view bitcoin as a speculative asset without intrinsic value, and there is no guarantee that its rally will continue. [Extracted from the article]