Bitcoin shoots above $70K again 🚀 - the crypto spring is here 🌱
A wave of recovery hits the market: Ethereum, Solana and co. follow Bitcoin on its way up. But not everything golden is $BTC this week.
New soaring highs, the Bitcoin halving and regulatory whiplash.
GM GM
and welcome to another exciting week in the crypto space!
After a period of uncertainty in the crypto marked with fluctuating prices and unpredictable conditions, there was a sigh of relief this week. Bitcoin has once again broken through the magical $70,000 mark, signaling not only the strength of the market but also the growing confidence of investors.
The highly anticipated and so-called Bitcoin Halving is just around the corner and while writing the newsletter we already realized that it might be necessary to explain this phenomenon
- so you will find a short explanation below, after the news.
Upswing for Ethereum, Solana and Co.
Bitcoin was not the only one to show its strong side this week. Altcoins have also recorded significant gains, while the world of Solana Memecoins continues to follow its own unpredictable yet so predictable path - typical Memecoin.
That's why we have a little question for you today:
The SEC vs. Ripple: An expensive affair?
The SEC is once again applying pressure on Ripple with its demand for almost 2 billion dollars in fines from them. What does this mean for Ripple and the further course of the case - It is and remains unnecessarily thrilling for XRP and investors.
Crypto exchanges in the focus of regulators
While the market is showing signs of recovery, some crypto exchanges are under particular scrutiny from regulators. From Bitvavo's conflict with the German BaFin to Binance's issues and blockade in the Philippines. And in addition, KuCoin and two of its founders have been charged with alleged violations of money laundering laws amounting to billions!
All this while Do Kwon, the founder of Terra, was released from prison in Montenegro this week.
Hence the appropriate and generally important advice at this point that you should not store your tokens on crypto exchanges.
Not your keys, not your coins!
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Often mentioned and important to understand:
The Bitcoin Halving
A central element in the Bitcoin code, -network and -cycle:
the so-called Halving Event, takes place approximately every four years.The reward that miners receive for adding a new block to the blockchain is reduced by half each time. Currently, the reward is 6.25 BTC, but with the next halving, in mid-April 2024, it will fall to 3.125 BTC. This adjustment is a pre-programmed rule in the Bitcoin code to limit the inflation of the cryptocurrency and ensure its scarcity.
Bitcoin Halving is a fascinating phenomenon that is of interest not only to miners, but to all crypto enthusiasts and investors, as it has a direct impact on the economics of mining and so, indirectly also on the overall market.
Historically, the Halving has often had a positive effect on the price of Bitcoin, with significant price increases usually occurring a few months afterwards
- not months before, as was the case this year. Some experts take this as proof that actually there is no direct correlation, but rather that several macro factors play a role. For example, the all-time high in 2020 can be attributed to the extraordinarily loose monetary policy and financial stimulus in response to the Covid-19 pandemic, while the recent all-time high can be linked to ETF inflows.Still, the market, the miners, and the entire industry is looking forward to the upcoming Halving Event, which is only a few weeks away, and to the effects it might have on the Bitcoin price.
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This newsletter and our articles do not constitute a recommendation to buy or invest and are for information purposes only. Every trading decision is your own responsibility.
You trade and invest with your own money.
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