A guide to $BTC halving and why it's important #HotTrends

A #Bitcoin halving is an event where the block reward in the #BTC.😉. blockchain is reduced by half. This occurs at specific intervals, precisely every 210,000 blocks. Initially, the mining reward was 50 bitcoins, then the first halving reduced it to 25 bitcoins, and the second halving to 12.5 bitcoins. This process holds significant importance for Bitcoin's market dynamics. The reduction in mining rewards leads to a decreased rate of new Bitcoin issuance, creating a supply-demand imbalance. Over the long term, this can potentially drive up the price of Bitcoin as its value increases in the face of limited supply. Additionally, halving impacts miners. As the mining reward decreases, miners must seek alternative revenue streams, potentially leading to decreased profitability in mining operations. However, it also reinforces the #Bitcoin network as miners are likely to continue mining Bitcoin in anticipation of its future value growth. #HotTrendsHaBinance

On the market today:

1. $BTC surpassed the $59,000 level, gaining 5% in the last 24 hours and reaching a market capitalization of $1.2 trillion. This is attributed to Bitcoin-based exchange-traded funds (ETFs) accumulating over $3 billion in total trading volumes, along with anticipation for Bitcoin's halving event in April.
The Fear and Greed Index hit 82, indicating extreme greed and the highest level in the past year. Despite this, traders remain optimistic, expecting #Bitcoin to exceed its previous highs in March.

2. Nine Bitcoin-based exchange-traded funds (ETFs) recorded consecutive days with combined trading volumes exceeding $2 billion. BlackRock's #ETF also set a new record with a daily volume of $1.3 billion. These ETFs have seen high trading volumes since their launch on January 11.

3. Telegram is launching its advertising platform on the #TON blockchain, enabling channel owners to receive 50% of the advertising revenue generated on their channels. The platform will utilize the #TON blockchain for payments. Telegram ranks as the fourth most popular messenger globally, with over 196 million daily active users and 800 million monthly active users.

Today in the market, the following is happening:

3.Sellers in open Bitcoin positions faced significant losses after Bitcoin surged by almost 11%, temporarily reaching a new annual high of $57,000. In the last 24 hours, positions in short-selling $BTC worth over $161 million and short-selling $ETH positions worth almost $44 million were liquidated. The rise in Bitcoin's price is attributed to substantial volumes of institutional capital flowing into recently approved Bitcoin ETFs in the United States. Market analysts and Bitcoin bulls are optimistic about the future price of Bitcoin, with some calling it the beginning of a new bull market.

4.#Bitcoin‬ and #Ethereum(ETH) continue to grow amid the possibility of a government shutdown. Bitcoin rose by 1%, and Ethereum reached its highest level in almost two years. Reduced trading activity over the weekends indicates worsening liquidity and increased participation of institutional investors. Analysts predict that Bitcoin could reach $63,000 by #March 2024, citing the timing of the next halving cycle.

The growth of Ethereum is expected to continue amidst macroeconomic conditions and investor interest in risk-free assets. Stocks showed moderate growth, but the government shutdown could exert pressure on the market. Traders will closely monitor the core PCE index for inflation data.

What are your thoughts?

Today in the market, the following is happening:

1. The total cryptocurrency market capitalization exceeded $2 trillion for the first time since April 2022. This is attributed to positive market sentiment and increased inflows into $BTC exchange-traded funds (ETFs). The price of Bitcoin reached a multi-year high at $57,513, and other popular altcoins like #Ethereum(ETH) , #Solana-SOL , #XRP🚀 ,#Cardano , and #Avalanche also showed significant growth.

These events led to a 7.7% increase in the global cryptocurrency market value, reaching a 22-month high of $2.14 trillion. The market growth is supported by bullish sentiment and investments in crypto products, especially Bitcoin ETFs. However, some analysts caution against a possible correction due to excessive greed in the market.

2. Bitcoin reached its highest level in the last 27 months, surpassing the $57,000 mark for the first time since 2021. The growth was driven by ongoing demand for Bitcoin ETFs and increased demand for Bitcoin from exchanges. Ethereum also saw growth, reaching its highest level in almost two years. The anticipation of approval for Ethereum ETFs reflects the maturity of the cryptocurrency market. Meanwhile, U.S. stocks showed mixed dynamics as investors await economic data and budget agreements to avoid a government shutdown.

What are your thoughts?

Today in the cryptocurrency market:

1.Bitcoin ($BTC ) has reached a new high at $57,000 and continues to rise. This is attributed to the increase in #Bitcoin ETF funds and the upcoming halving event. Experts predict further #Bitcoin‬ price growth, with some even speculating it could surpass $1 million per coin.

2.Other cryptocurrencies like Ethereum ($ETH ), Solana ($SOL ), Cardano (#ADA ), and Stacks (#STX ) are also rising amid the Bitcoin rally.

3.Significant profits have been recorded in the last 24 hours due to Bitcoin's price surge, resulting in over $150 million in losses for bearish leveraged positions. Analysts believe this signals the start of a new bullish market for cryptocurrency and anticipate significant Bitcoin price growth as the halving event approaches.

4.It's important to note that the #bitcoinhalving process, occurring approximately every four years, can impact price trends. Traders may leverage the current trend, identify key support and resistance levels, and employ breakout strategies to profit from price movements.

5.According to the news, in the last 20 days, "Smart Money" on the blockchain actively purchased various coins such as MOV, WLD, COTI, WBAI, PALM, and ORDS. These coins have shown high profitability and attracted attention due to concepts of artificial intelligence and fair distribution. They share common characteristics such as market attractiveness, fair distribution, and low market capitalization.

6. The Spanish financial market regulator, the Securities and Exchange Commission (CNMV), has warned investors about 18 companies operating in the country without the appropriate licenses. Among these companies are several cryptocurrency firms, including BITBINX, Crytomerge, and CryptoMaxiTrade. CNMV states that these companies do not have permission to provide investment services or other activities under its control. The regulator recommends concerned investors to seek legal assistance through regular judicial proceedings.

What to expect from $BTC ?

Based on the data provided in the source, #BTC‬ has shown a positive price change over the last 7 days and the last 24 hours. Technical analysis indicates that currently, RSI and MACD indicators aren't providing clear signals, and the BOLL indicator doesn't show any specific patterns.

However, it's worth noting that over the past 7 days, the RSI indicator has signaled overbought conditions 14 times, suggesting a potential price decrease in the near future. Additionally, the third-party Market Sentiment Index indicates market "#greedy ."

Considering this data, it could be assumed that Bitcoin may continue its upward movement in the near term. Yet, due to overbought signals and market "#greed ," a price correction might be observed in the coming days.

It's important to emphasize that the cryptocurrency market is highly dynamic and prone to sudden changes. Therefore, conducting personal research and staying informed about current news and events that could impact Bitcoin's price is always recommended.

Risk disclosure: Forecasts are for reference only, not investment recommendations. Investing involves risk; please make decisions prudently.

WHAT TO EXPECT FROM $BTC SOON...

Based on the data provided in the source, #BTC‬ showed a positive price change over the last 7 days as well as over the last 24 hours. Technical analysis shows that at the moment indicators
RSI and MACD do not give clear signals, and the BOLL indicator does not show any special patterns.
However, it should be noted that over the past 7 days, the RSI indicator has shown an overbought signal 14 times, which could indicate a possible price decline in the near future. In addition, the third-party indicator Market Sentiment Index indicates the presence of "#жадность " in the market.
Taking into account these data, it can be assumed that Bitcoin may continue its upward movement in the near future.
However, due to overbought signals and the presence of “#жадность ” on the market, there may be a price correction in the coming days.
It is important to note that the cryptocurrency market is very dynamic and subject to sudden changes. Therefore, it is always recommended to do your own research and pay attention to current news and events that may affect the price of #BTC‬ .
Risk Disclosure: Forecasts are for reference only.