The supply of bitcoin was strictly constrained In this article, let’s examine the Bitcoin supply in 2023

Compared to other cryptocurrency coins Bitcoin is a highly erratic currency. Nakamoto put a strict limit on the bitcoin supply while creating it. The rate at which the bitcoin supply is increasing along a pre-set path is decreasing. More than 21 million bitcoins will never be in circulation. As a result, one should not be concerned about unforeseen fluctuations in the bitcoin supply. The bitcoin supply is extremely predictable. Let’s explore the Bitcoin supply in 2023. As of writing on March 9, 2023, there are 19.31 million bitcoins in circulation. One block of bitcoin transactions is verified by miners every ten minutes. 6.25 bitcoins are now awarded for validating a single bitcoin block. Thus, every day, about 900 bitcoins are issued into circulation. Bitcoin’s supply is limited. As a result, trading with another person will be the only option to obtain Bitcoin once the supply is reached. There can only ever be 21 million Bitcoins in circulation.

Experts predict that the total amount of Bitcoins issued will almost certainly never surpass this limit. It is so because the Bitcoin code base contains rounding operations. To impose a Bitcoin cap restriction, block rewards are frequently divided over time. There won’t be any more Bitcoin cryptocurrency created after the final 21 million have been mined. So, the only sources of income for Bitcoin miners will be the sale of their coins and transaction fees.

Although there are theoretically 21 million bitcoins available, 4 million of them have been irretrievably lost. Bitcoins can be misplaced if the owner misplaces the private key to a paper wallet or other cold storage wallet if the private key is lost, if the wallet is misplaced, or if the owner’s wallet or hard drive is lost. Without a private key, it is impossible to use or trade bitcoins because it is necessary to send them from one wallet to another. As owners were less vigilant when the coins were just worth pennies, many bitcoins were lost in the early years of the cryptocurrency. As they are not maintained on an exchange, which may be exposed to security threats, and are kept offline, cold storage wallets are the most secure way to hold bitcoins.

A sizeable fraction of the available bitcoins are owned by several investors who entered the Bitcoin market early. Whales are investors who own enough bitcoin to influence the market when they buy or sell. 5 million bitcoins, or around 28% of the entire supply, are now held by about 1,600 companies. From Bitcoin’s birth, Satoshi Nakamoto, the alleged creator (or group of founders), has kept 1 million bitcoins in their wallet without ever moving a single one. Even though some whales do sell and spend their bitcoins, most of them choose to keep with them, effectively removing them from the market.

No new bitcoins will be created after the maximum number of bitcoins has been achieved, even if that number ultimately falls slightly below 21 million. Bitcoin miners will still be compensated, but probably simply with transaction processing fees, for continuing to pool and process bitcoin transactions into blocks. 

Bitcoin miners will undoubtedly be impacted when Bitcoin reaches its upper supply limit, but how much will depend on how Bitcoin develops as a cryptocurrency. Bitcoin miners might still be able to make money solely from transaction processing fees in 2140 if the Bitcoin blockchain handles a large volume of transactions.

#bitcoin #crypto #coin #trend

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#crypto2023 #arb #meme #binance #trend

Cryptonews Industry Talk  Is It Too Late to Buy DogWifHat? WIF Price Turns Green and This Other Meme Coin Could Be Next to Explode
Is It Too Late to Buy DogWifHat? WIF Price Turns Green and This Other Meme Coin Could Be Next to Explode
    

As WIF price recovers from a correction and turns green again, investors are looking for the next big meme coin opportunity. Image by Kerem Goktug Kaya, DALL-E 3.
Introduced as a playful rival to the first meme coin Dogecoin, Solana-based DogWifHat ($WIF) has caught the attention of investors. Since its launch in December 2023, WIF has seen major trading activity, including a 750% price increase leading up to January 17, followed by a correction phase. Currently, WIF is demonstrating signs of another upward trend.
An important moment for WIF was its January 18 listing on Binance, which increased the coin’s visibility and accessibility, contributing to its bullish momentum.
As a rival to Dogecoin, WIF taps into the large community and the overall cultural phenomena of dog-themed meme coins. The playful and viral nature of such coins often drives market sentiment, leading to rapid price movements and increased profit potential.
Analyzing WIF Price Action

The WIF price, currently at $0.3668, reflects a positive 24-hour change of 4.31%, despite a 7-day decline of 3.14%. The 30-day performance shows an impressive 132.90% increase. These figures suggest a strong recovery and potential for further growth.
Moving Averages and MACD
The exponential moving averages (EMAs) for WIF show a bullish pattern, with the EMA 7 at 0.3384 considerably higher than the EMA 20 at 0.2884. Similarly, the moving averages (MAs) align closely, with MA 7 at 0.3221 and MA 20 at 0.3215, indicating a stable upward trend.
The MACD indicator, however, presents a slightly divergent picture. The marginal decrease from 0.0569 yesterday to 0.0567 today may suggest a loss in momentum, albeit minimal. This could imply that while the bullish trend is intact, it might be losing some strength.
RSI and Price Volatility
The Relative Strength Index (RSI) for WIF, currently at 56.49, decreased slightly from yesterday’s 58.36. The reduction means the WIF price is in moderately positive territory, indicating neither overbought nor oversold conditions. This balanced RSI level suggests that WIF is experiencing healthy trading activity without the immediate risk of an important pullback.
Price Action Prediction
The resistance and support levels for the WIF price paint a clear picture of potential price movements. The all-time high (ATH) of $0.5450 stands as the primary resistance level. A breakthrough above this level could see the WIF price target the ambitious $1.98 mark, and potentially, in a massive crypto bull run scenario, $15.9 as outlined by Fibonacci retracement levels. While a pump to $15.9—a market cap of nearly $20 billion—is unlikely, it’s not unheard of for meme coins to skyrocket to insane heights.
On the downside, the immediate support level at $0.3486 provides a cushion against short-term declines. Further support levels at $0.2955, and the Golden Fibonacci levels of 0.2624 and 0.2454, offer additional safety nets. A breakdown below these levels could lead to a correction down to 0.1918.
In short, the WIF price is currently showing a positive trend with potential for further growth. The balanced RSI and stable moving averages suggest a healthy market dynamic, albeit with a need for cautious optimism given the slight decrease in MACD. The following days will be crucial in determining whether the WIF price can sustain its momentum and challenge its resistance levels or if it will face a bigger correction.
#meme #solana #binance #trend

    

Pepe is a digital coin based on the well-known “Pepe the frog” internet meme. It started in April 2023 and has a huge number of tokens. Pepe coin doesn’t really have any real-world value; it’s more about being fun and popular. It wants to be more famous than other similar coins, like Dogecoin and Floki. Pepe coin has a lot of fans who support it online.
Floki is another digital coin, named after Elon Musk’s dog. It began in July 2021 and has a large number of tokens too. Floki is known as Elon Musk’s favorite and helps animal charities and a gardening project started by Musk’s brother. Floki isn’t just for fun; it’s part of a bigger online system with games, art sales, finance services, and more. Floki also has many dedicated fans.
Pepe’s price is very small, and it’s worth about $307.53 million in total. Its price dropped by over 12% in a week and is considered bearish for 2024. Floki’s price is also small but a bit higher than Pepe’s, and it’s worth around $160.21 million. It’s ranked 146th in the industry in terms of crypto market cap. Floki’s price also went down by over 13% in a week’s time and analysts are also bearish on this meme coin.
Both have a limited number of tokens to keep it rare and a big group of fans who make art and videos to promote it.
But there are more downsides than the actual benefits of investing in them. First of all, they bring no real-world value and are just for fun. The prices can fluctuate drastically as they are more of Hype-driven coin offerings where people like Elon Musk can easily manipulate the prices with a few tweets. With cut throat competition from emerging coins, it’s very difficult for Floki and Pepe to sustain unless they bring something unique to their platform.
#pepe #binance #tradinginsight #trend

Bitcoin Blasts Higher / Source: Adobe
The Bitcoin (BTC) price just vaulted above $47,000 for the first time since April 2022 as FOMO comes in ahead of the expected approval of spot Bitcoin ETFs by the US SEC later in the week.
Bitcoin is up 7% on the day, taking its gains since the start of the year to 11%.
That means the Bitcoin (BTC) price is now up a staggering 87% from its September 2023 lows at $25,000.

Bitcoin (BTC) Price Up 87% Since September / Source: TradingView
The consensus expectation amongst market participants is that the SEC will approve multiple spot Bitcoin ETFs by Wednesday.
⚠️ Looking like Weds now for Bitcoin etf descion, expected to be approved – Kate Rooney on CNBC— *Walter Bloomberg (@DeItaone) January 8, 2024

Spot Bitcoin ETF Approval Growing FOMO
Various US spot Bitcoin ETF applicants including BlackRock, Grayscale and Fidelity updated their filings once again on Monday.
Moreover, various applicants also revealed the fees they plan to charge ETF investors.
The #Bitcoin ETF Fees:Grayscale: 1.50%
Hashdex: 0.90%
Valkyrie: 0.80%
Invesco Galaxy: 0.59%
Wisdomtree: 0.50%
Fidelity: 0.39%
Blackrock: 0.30%
Franklin: 0.29%
Ark: 0.25%
VanEck: 0.25%
Bitwise: 0.24%#BitcoinETF #BitcoinETFs— LondonCryptoClub (@LDNCryptoClub) January 8, 2024

These headlines have clearly helped pump fear of missing out (FOMO) of potential Bitcoin price upside amongst market participants.
Most crypto market analysts, investors and observers view the long-awaited approval of spot Bitcoin ETFs in the US as likely to be a historic moment for the Bitcoin market.
The approval of spot Bitcoin ETFs will be interpreted as a regulatory thumbs up from regulators in the world’s largest economy.
This will boost BTC’s legitimacy, easing skepticism that has long kept many investors away from the crypto market.
Spot Bitcoin ETFs will also be easy for traditional investors to invest in.
Rather than needing to open an account at a crypto exchange, and understand web3 nuances such as how to use wallets, investors will be able to buy the ETF directly with their existing brokers.
All said, spot Bitcoin ETFs in the US are expected to attract significant demand, bringing a wave of fresh capital into the crypto space.
The assumption is that this will provide significant support to the Bitcoin (BTC) price in the years ahead.
As per widely followed crypto investor Mike Alfred via a tweet on X, Standard Chartered just projected $50-100 billion of spot Bitcoin ETF inflows this year.
They also project that the BTC price could hit $200,000 by the end of 2025.

Bitcoin (BTC) Price Pumps Above $47,000 As ETF FOMO Explodes – Where Next Is It Headed Next?
Last updated: January 8, 2024 03:59 EST . 3 min read
    
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

Bitcoin Blasts Higher / Source: Adobe
The Bitcoin (BTC) price just vaulted above $47,000 for the first time since April 2022 as FOMO comes in ahead of the expected approval of spot Bitcoin ETFs by the US SEC later in the week.
Bitcoin is up 7% on the day, taking its gains since the start of the year to 11%.
That means the Bitcoin (BTC) price is now up a staggering 87% from its September 2023 lows at $25,000.

Bitcoin (BTC) Price Up 87% Since September / Source: TradingView
The consensus expectation amongst market participants is that the SEC will approve multiple spot Bitcoin ETFs by Wednesday.

Spot Bitcoin ETF Approval Growing FOMO
Various US spot Bitcoin ETF applicants including BlackRock, Grayscale and Fidelity updated their filings once again on Monday.
Moreover, various applicants also revealed the fees they plan to charge ETF investors.

These headlines have clearly helped pump fear of missing out (FOMO) of potential Bitcoin price upside amongst market participants.
Most crypto market analysts, investors and observers view the long-awaited approval of spot Bitcoin ETFs in the US as likely to be a historic moment for the Bitcoin market.
The approval of spot Bitcoin ETFs will be interpreted as a regulatory thumbs up from regulators in the world’s largest economy.
This will boost BTC’s legitimacy, easing skepticism that has long kept many investors away from the crypto market.
Spot Bitcoin ETFs will also be easy for traditional investors to invest in.
Rather than needing to open an account at a crypto exchange, and understand web3 nuances such as how to use wallets, investors will be able to buy the ETF directly with their existing brokers.
All said, spot Bitcoin ETFs in the US are expected to attract significant demand, bringing a wave of fresh capital into the crypto space.
The assumption is that this will provide significant support to the Bitcoin (BTC) price in the years ahead.
As per widely followed crypto investor Mike Alfred via a tweet on X, Standard Chartered just projected $50-100 billion of spot Bitcoin ETF inflows this year.
They also project that the BTC price could hit $200,000 by the end of 2025.

That’s why traders have been aggressively buying BTC on Monday; to front-run this anticipated wave of new demand.
Where Next for the Bitcoin (BTC) Price?
Bitcoin’s latest leg higher has seen the price pop to the north of a short-term upward trend channel.
This opens the door for an acceleration of near-term gains towards the 2022 highs around $48,500.
Assuming spot Bitcoin ETFs do get the green light, the likelihood of testing the 2022 high is strong.
A surge towards the key psychological $50,000 level is also on the cards, though profit-taking is likely to keep trading conditions highly choppy.
Many analysts have been warning that the Bitcoin (BTC) market might see a sell-the-fact reaction to spot ETF approvals.
This is where investors decide to sell in order to book profits following the confirmation of a positive market catalyst.
Traders shouldn’t be surprised to see BTC swing anywhere between $40,000-$50,000 in the days and weeks ahead.
But in the longer term, Bitcoin (BTC) price risks are heavily tilted towards further upside.
That’s because the price is likely to also benefit from tailwinds like a Fed cutting cycle and the historically bullish Bitcoin issuance rate halving in 2024, at a time when institutional adoption in the US is also about to leap forward thanks to the new ETFs.
#btc #bitcoin #binance #trend

𝐓𝐡𝐞 𝐄𝐔 𝐇𝐢𝐭𝐬 𝐇𝐚𝐫𝐝 𝐀𝐠𝐚𝐢𝐧𝐬𝐭 𝐓𝐡𝐞 𝐊𝐫𝐞𝐦𝐥𝐢𝐧 𝐖𝐢𝐭𝐡 𝐑𝐚𝐝𝐢𝐜𝐚𝐥 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐒𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬 🚨🚨🚨
The European Union is not known for doing things halfway, especially when it comes to economic sanctions. This time, the goal is clear: to put pressure on the Kremlin by targeting its crypto infrastructure and alternative financial means. It’s a real blow to Russia, whose repercussions could be felt far beyond European borders.
𝐓𝐡𝐞 𝐄𝐔 𝐭𝐚𝐫𝐠𝐞𝐭𝐬 𝐜𝐫𝐲𝐩𝐭𝐨 𝐚𝐬𝐬𝐞𝐭 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐫𝐬 🪙
The latest European Union sanctions directly target eurozone operators engaging with crypto asset providers facilitating transactions in favor of the Russian defense effort.
This is about a total ban on these interactions, a drastic measure intended to cut off the financial resources supporting the Kremlin’s war machine.
This decision marks a new stage in the economic war the EU is waging against Russia. By banning these transactions, the EU hopes to dry up the financial flows that fuel Russian military capabilities. Crypto asset providers thus find themselves in the crosshairs, forced to comply or face severe consequences.
But that’s not all. The new sanctions also include a ban on using SPFS, the financial message transfer system developed by Russia to circumvent the exclusion from SWIFT.
This ban aims to further isolate Russia from international financial networks, complicating its cross-border transactions even more.
𝐁𝐚𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐑𝐮𝐬𝐬𝐢𝐚𝐧 𝐒𝐏𝐅𝐒 𝐬𝐲𝐬𝐭𝐞𝐦 ❗
SPFS, designed as a Russian alternative to SWIFT, plays a crucial role in Russia’s attempts to mitigate the impact of Western economic sanctions.
By banning European entities from connecting to SPFS, the EU tightens its grip on Russian financial transactions. This ban makes it more difficult for Moscow to use this system to support its military operations.
The EU Council has made it clear that this ban applies to all European operators. This includes those based inside and outside of Russia. Even foreign subsidiaries of European companies must comply with this new regulation or face sanctions.
Indeed, these restrictive measures add to a series of already severe sanctions imposed on Russia since the beginning of its invasion of Ukraine.
𝐏𝐮𝐭𝐢𝐧’𝐬 “𝐝𝐚𝐫𝐤 𝐟𝐥𝐞𝐞𝐭” 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐩𝐨𝐭𝐥𝐢𝐠𝐡𝐭 ❓
Russia has not given up on its ambitions. Some tactics used to circumvent the sanctions have been particularly ingenious. Among them, the use of “Putin’s dark fleet.” This is a fleet of tankers operating discreetly to continue exporting oil despite the restrictions.
This fleet, accused of helping Russia circumvent the sanctions, is now targeted by the EU. By identifying and sanctioning these ships, the EU wants to make Russia’s operations more difficult. It also aims to reduce its oil revenues, an essential source for funding its war efforts.
The EU Council has announced the identification of 27 ships that are part of this fleet. Indeed, these ships will be subject to specific sanctions. Additionally, 61 new entities have been added to the blacklist for their direct support of the Russian war effort. This illustrates an intensification of efforts to economically isolate Russia.
The European Union, through these radical economic sanctions, sends a clear message. It is determined to use all means at its disposal to put pressure on the Kremlin and reduce its ability to wage war in Ukraine. The target is multiple: from crypto asset providers to the tankers of the “dark fleet,” including the SPFS system.
As Russia continues to seek ways to circumvent these sanctions, the effectiveness of these measures remains to be seen. What is certain is that the EU does not intend to ease the pressure anytime soon. Each new initiative testifies to its willingness to strike hard and in a targeted manner.
Reference from cointribute.

#binancenews #trend #Alert! #US_Inflation_Easing_Alert $BTC

The Shiba Inu price has dipped by 4.5% this morning, with its fall to $0.000009051 coming as the wider crypto market loses 1% in the past 24 hours.
This loss means that SHIB has fallen by 12.5% in a week and by 15% in the past fortnight, with the coin having risen by only 7% in the last 12 months.
This counts as substantial underperformance in relation to many other major tokens, yet with the market set to become more bullish in the coming weeks and months, SHIB could make a strong comeback very soon.
Shiba Inu Price Prediction as $100 Million Trading Volume Comes In – Meme Coins Making a Comeback?
SHIB appears to be in the middle of a correction, following a very busy December.
For one, its 30-day average (yellow) has begun falling towards its 200-day (blue), a sign that it has begun losing momentum.

Source: TradingView
This is also clear from SHIB’s RSI (purple), which is struggling to clear 40 after topping 70 in early December.
It’s therefore the case that traders are more inclined to sell SHIB rather than buy it, something also suggested by the coin’s low 24-hour trading volume.
This stands at $200 million (down from over $800 million in December), and with the meme token also falling through the $0.00000950 support level yesterday, more losses could be coming soon.
However, this all depends on what the SEC does later this week, with the regulator expected to reach a decision on several Bitcoin ETFs this week.
If its decisions are positive, the market will undoubtedly rally big, pushing up the SHIB price with it.
Of course, if it rejects or delays again, the market is likely to take another hit, and it’s entirely possible that SHIB, as a meme token, will fall disproportionately.
Either way, the longer term picture does look positive for SHIB, given that 2023 saw its developers working assiduously towards giving it more utility and value.
Not only did we see the launch of its own layer-two network, Shibarium, but it also saw important steps towards introducing its own decentralized identity service.
250 million transactions on #Shibarium 🙂 quarter of the way to one billion, I've been doing way more transactions on shibarium @FEF_TOKEN and it's incredible how smooth everything is. Gas has managed to stay super low (fractions of a penny) goosebumps pic.twitter.com/JdAhSqTcY7— The Bus (@TheBus37643251) January 4, 2024

On top of this, 2024 could bring the long-awaited launch of SHIB: The Metaverse, which would certainly provide the meme coin with strong momentum.
Accordingly, the Shiba Inu price could reach $0.000020 in the first few months of 2024.
SHIB's community and fans all expect SHIB's price growth season to peak at $0.01 in early 2025 or at least $0.001 in the upcoming bull run.
#shib #meme #binance #trend #trading