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Demand for US spot $BTC ETFs has just rocketed, leaving the daily supply by miners in the dust by a whopping 614%! 🚀
Why This Matters?
⭕ BTC ETFs:
Investors are running to Bitcoin ETFs for a taste of Bitcoin's gains without the hassle of direct ownership. It's about convenience and moving into Bitcoin's potential with ease.
⭕ Halving:
With the Bitcoin halving event right around the corner, reducing block rewards from 6.25 BTC to 3.125 BTC, we're staring down the barrel of a supply crunch. Bitcoin's getting rarer by the minute.
⭕ The Price:
This mix of surging ETF demand and the looming halving has turbocharged Bitcoin's value, boasting a staggering 55% increase year-to-date. Since BlackRock's Bitcoin ETF filing, it's insane 173% rise.
As we gear up for the halving, the stage is set for an unprecedented scenario. Bitcoin's already hit a new all-time high pre-halving, a first in its history. With ETF demand soaring and the supply set to halve, we're in uncharted waters.
✅ So What's Next?
Market watchers checking screens every minute, waiting to see how Bitcoin handles this supply shock plus halving combo.
🤯 Over $6B worth of $BTC moved by 5th-richest Bitcoin whale 🐳 The funds haven’t moved since 2019 when the whale address received them.
The Bitcoin whale transferred nearly its entire balance of 94,500 Bitcoin, worth $6.05 billion, on March 23, leaving only 1.4 BTC in the initial address, according to a March 25 X post by Arkham Intelligence.
1. First $BTC Halving (November 2012): - Reduced the block reward to 25 BTC from 50 BTC. - Price at time of halving: $13 - Following year’s peak: $1,152 - Increase: 89x 📈
2. Second BTC Halving (July 2016): - Reduced the block reward to 12.5 BTC. - Price at time of halving: $664 - Following year’s peak: $17,760 - Increase: 27x 📈
3. BTC’s Third Halving (May 2020): - Reduced the block reward to 6.25 BTC. - Price at time of halving: $9,734 - Following year’s peak: $67,549 - Increase: 7x 📈
What's your prediction for #BTC after halving 2024?
P.s. check out predictions by crypto veterans in my pinned comment👇
❗️ℹ️ Latest news from the blockchain and crypto universe:
- Binance Changes:
Binance will stop supporting Tron's TRC-20 USDC transactions starting April 5. Users are advised to take action with their TRC-20 USDC tokens before this date, although USDC trading remains unaffected. 🔄
- ParaSwap's Response to Vulnerability:
After discovering a vulnerability in its AugustusV6 smart contract, ParaSwap has started returning crypto to users. Collaborating with Chainalysis and TRM Labs, they're hard at work tracing hacker activities and securing assets. 🛡️
- Do Kwon's Legal Saga:
Terraform Labs co-founder Do Kwon finds temporary relief with his release from Montenegro prison. The Supreme Court is reevaluating his extradition, keeping an eye on decisions from the United States and South Korea. 🌍
- ANZ and Chainlink Labs' Innovation:
A promising collaboration between ANZ and Chainlink Labs showcases a successful connection between the Avalanche and Ethereum blockchain networks, paving the way for more seamless on-chain transactions. 🌐
Stay tuned for more updates and make sure to navigate these developments wisely in your blockchain and crypto endeavors!
In the crazy world of crypto, it feels like everyone's making gains - except when you jump in, only to watch the market dip.
Wondering why?
1. Lack of Understanding:
Crypto's complexity and volatility require a solid grasp of its technology and market dynamics. Jumping in without this foundation is a recipe for trouble.
2. Emotional Investments:
Decisions driven by emotions, rather than strategy, often lead to missteps. Whether it's fear, greed, or FOMO, staying clear-headed is crucial.
3. No Concrete Plan:
A strategic approach, encompassing clear objectives and risk management, is key to navigating the ups and downs effectively.
4. Following the Crowd:
It's tempting to chase the latest trend, but without due diligence, this can lead to setbacks. Remember, hype can quickly dissipate.
5. Putting All Eggs in One Basket:
Diversification is a safeguard against volatility. Avoid putting too much into one asset; spread your investments to manage risk better.
6. Ignoring the News:
The crypto landscape shifts rapidly. Staying informed helps you make educated decisions and adapt to new developments.
By making these few adjustments, you can significantly increase your chances of making money in the crypto market.