CryptoNews of the Week by NordFX

CryptoNews of the Week


? Nayib Bukele was re-elected as President of El Salvador on February 4, winning by a substantial margin. The leader, who has openly supported bitcoin and made it the country's first legal tender, garnered the support of the majority of the Salvadoran society, securing approximately 85% of the electorate's votes. "This is a record for democratic elections worldwide," Bukele stated.
Shortly before the election, it was announced that should Bukele win the presidency by a large margin, he would expand the use of bitcoin. Specifically, Bukele plans to issue passports to bitcoin entrepreneurs and launch Volcano bonds, which will fund the construction of Bitcoin City, a tax haven for crypto companies.

? Jim Rogers, an investor who co-founded the Quantum Fund with George Soros, believes that bitcoin does not pose a threat as a potential replacement for existing government currencies. According to him, despite bitcoin's growth and current perception, the primary role of the flagship cryptocurrency is to serve as a trading instrument. Rogers emphasized that governments are unlikely to recognize bitcoin as a currency, as they fear potential competition with existing monetary systems. However, the investor suggests that Central Bank Digital Currencies (CBDCs) are likely to be adopted in several countries around the world.

? The former President of the United States, Donald Trump, also commented on the possibility of the country adopting a Central Bank Digital Currency (CBDC). He stated that if he were to be re-elected, he would prevent the introduction of this type of currency in the United States. Trump emphasized that a CBDC infringes upon citizens' rights and freedoms, as it would allow government entities access to detailed information about people's financial activities. "I will never allow the creation of a central bank digital currency that would enable the theft of your money," Trump declared.

? The popular blogger PlanB has stated that following the upcoming bitcoin halving in April, bitcoin will become scarcer than gold and real estate, suggesting that the cryptocurrency could reach a price around $500,000. Based on his Stock-to-Flow model, the expert considered that the digital asset's market capitalization might not surpass that of gold: over $10 trillion. However, approaching this mark and a coin issuance of 20 million could lead to the stated price. PlanB did not specify a timeframe for reaching this price.
The analyst also named the minimum level below which, in his opinion, the primary cryptocurrency will not fall. The 200-week moving average (200WMA) of the BTC price has exceeded $31,000, and according to PlanB, historically, the price has never dropped below this metric.

? Scott Melker, a renowned trader, investor, writer, and host of "The Wolf Of All Streets" podcast, who also holds the title of Binance Influencer of the Year, has shared his perspective on the upcoming bitcoin halving. He believes this event could drive the price of bitcoin up to $240,000. "The bitcoin halving will occur when the number of mined blocks reaches 840,000 in April 2024, at which point the block reward will decrease from 6.25 to 3.125 BTC," Melker explained. "Essentially, this means that the issuance of new coins will be halved. It will become twice as difficult for miners to earn money from bitcoin mining." Following the previous halving, the BTC price soared from $20,000 to $69,000, marking a 250% increase. Therefore, if the situation repeats this time, the next peak after $69,000 could be $240,000. "I know it might seem like an exaggeration... This cycle has worked in the past. And until I see it fail [this time], I'm prepared to bet that bitcoin will exceed $200,000," Melker insists.
It's worth noting that Anthony Scaramucci, the founder of Skybridge Capital, also recently expressed optimism about bitcoin's future. He believes the halving will lift the BTC price to $170,000.

? CryptoQuant has announced that bitcoin miner reserves have dropped to their lowest level since July 2021. The wallets of mining pools are holding the lowest volume of cryptocurrency since the so-called Great Migration of miners from China to other countries in Eurasia and North America. Moreover, last week saw the largest outflow of BTC from miners' autonomous wallets to exchanges.
Analysts at Bitfinex are also observing an influx of bitcoins to exchange addresses associated with mining companies. They believe that a massive coin dump could occur in the coming days. Consequently, pressure will increase again, and the digital currency may fall below $40,000. The Bitfinex report notes that sales are increasing due to the approaching halving. They estimate that, following the miners, short-term investors may join the sell-off. They will start to dispose of the cryptocurrency for fear that its price will fall below the level at which they purchased the coins.

? Michael Van De Poppe, a renowned trader, investor, and founder of MN Trading, believes that the value of bitcoin could reach $500,000. He highlighted several factors that will cause an explosive growth in the flagship coin's rate. Among these factors are the current market state, the launch of BTC-ETFs, inflows from institutional investors, and others. An important factor will be the halving, after which a bullish growth of the cryptocurrency market is expected. The researcher emphasized that the current cycle might be slightly longer than before, due to the entry of institutional players into the market and a change in the overall direction of the industry's development. According to the analyst, liquidity influences, macroeconomic factors, and others could have a greater impact on the market.
Van De Poppe suggests a scenario where the value of bitcoin could rise to $48,000 before the halving, hitting a key resistance level. This would be followed by another correction, resulting in a 20% price drop. After the halving, the BTC value will start to rise again and reach a local peak by the fall.

? Grok, an artificial intelligence developed by Elon Musk's company xAI, has made two predictions: by the end of 2024, the Ethereum rate will range from $4,000 to $5,000; within the year, the value of ETH could peak at $6,500. Grok highly values the prospects of Ethereum due to the development of its ecosystem and the upcoming Dencun update, scheduled for February 8. This upgrade is expected to enhance the scalability of the ETH blockchain and significantly reduce transaction processing costs in second-layer networks through the implementation of proto-danksharding technology, which allows for increased blockchain throughput. The artificial intelligence also identifies spot Ethereum ETFs as catalysts for the coin's price growth, which could be approved by the end of May. Applications for the issuance of these derivatives have been submitted to the U.S. Securities and Exchange Commission (SEC) by six major American companies: Volatility Shares, Bitwise, Grayscale, VanEck, Roundhill, and Proshares.

? Senator Elizabeth Warren asserts that her legislative proposal has already garnered the support of 19 members of the U.S. Senate. She hopes that "common sense will prevail," and her supporters, along with other congressmen, "will achieve effective measures to combat the criminal use of crypto assets."
Should the law come into effect, the anti-money laundering regulations from the traditional finance sector will fully apply to digital asset market players. According to the draft document, Know Your Customer (KYC) rules will affect providers of autonomous wallets, miners, validators, and other independent network participants. All financial institutions in the U.S. will be required to report on measures to prevent money laundering, tax evasion, and other criminal activities. "This bill will close the gaps in our anti-money laundering regulations," Warren stated, referencing a report by the analytics firm Chainalysis, which indicated that from 2022 to 2024, stablecoins accounted for more than 50% of transactions by cybercriminals.

? Cathy Wood, CEO of ARK Invest, asserts that investors have begun shifting from gold to bitcoin following the launch of spot bitcoin exchange-traded funds (ETFs). "Bitcoin is growing relative to gold. The substitution of gold with bitcoin is in full swing. And we believe this will continue now that a less complex access to bitcoin has emerged," she stated.
Cathy Wood anticipates that bitcoin will emerge as a "risk-free asset" when the banking sector shows signs of weakness again. The market witnessed this firsthand in March 2023, during the "regional banking crisis" in the United States, which resulted in a 40% surge in the price of digital gold. (Recent analysis by Fidelity indicates that bitcoin's inverse correlation with banking interest rates disappeared in 2023, despite rising rates worldwide).
 

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews of the Week


? Lucas Outumuro, head of research at IntoTheBlock, forecasts an 85% chance that bitcoin will reach a new all-time high within the next six months, potentially surpassing $70,000. He identifies five growth catalysts.
1. The halving in April, marking the fourth reduction of the mining reward from 6.25 BTC to 3.125 BTC per block, which is expected to decrease selling pressure. Outumuro suggests bitcoin could reach a new all-time high (ATH) just a month after the halving.
2. The continued influx of funds into spot exchange-traded funds (ETFs) based on bitcoin could act as a second growth catalyst. While the duration of this strong inflow remains uncertain, its persistence could bolster the cryptocurrency's price through increased demand.
3. IntoTheBlock believes the Federal Reserve's tight stance on interest rates in 2022 laid the groundwork for a bear cycle not only in the crypto market but also across other risk assets. With inflation dropping from 10% to 3% by 2024, many anticipate a policy shift by the Federal Reserve towards cutting interest rates, likely driving the recent rally in both bitcoin and stocks. The expert notes that bitcoin's price movement has been more closely aligned with traditional assets recently, enhancing its correlation with the Nasdaq and S&P 500 to two-month highs.
4. The US presidential election, although current President Joe Biden is generally opposed to digital assets, the election campaigns tend to have a positive impact on the crypto market. IntoTheBlock's report states, "Polymarket currently gives Biden only a 33% chance of re-election, making Donald Trump, who is significantly more crypto-friendly, the most likely victor." However, to boost the incumbent's re-election chances, the Federal Reserve might adopt a more aggressive easing of its monetary policy, encouraging an influx of funds into both the stock and crypto markets.
5. Hedge funds are considered an unexpected growth driver by Outumuro. He recalls that when bitcoin recovered from the COVID-19 pandemic in 2020, traditional financial giants first acknowledged the cryptocurrency's potential. The introduction of spot bitcoin ETFs provided hedge funds with an opportunity to accumulate a new asset class, thus increasing demand from traditional investors and leading to greater adoption and acceptance of digital assets.
However, IntoTheBlock notes that these scenarios could change due to various factors. For instance, if the Federal Reserve does not ease its policy, bitcoin could face a 10% correction. The development of geopolitical conflicts could also negatively impact the price of digital gold. The experts do not rule out unexpected selling pressure in the event of major player bankruptcies.

? Analysts at investment bank Goldman Sachs have revised their forecast for the S&P 500 index after it surpassed 5,000 points. They have set a year-end target for the index at 5,200, indicating a 3.9% increase from its current level. As previously noted by IntoTheBlock observations, the correlation between bitcoin and the S&P 500 is increasing, suggesting that the coin's value will rise alongside the US stock market.

? According to the Financial Times, hackers linked to North Korea are increasingly turning to artificial intelligence to aid their efforts. In 2023, they launched 1.3 million attacks against South Korean companies and government agencies. Previously, their attempts often failed due to poor language skills and a lack of understanding of local social nuances. Now, North Korean hackers are leveraging artificial intelligence to enhance their effectiveness.
Erin Plante, Vice President of Research at Chainalysis, views this as a significant new threat. "North Korean hacking groups are creating trustworthy profiles on professional sites like LinkedIn. Generative neural networks help them communicate, send messages, create images, and new identities: everything needed to build close relationships with their victims," she explained. "They use detailed profiles on LinkedIn and other social networks to develop relationships over weeks and months." Plante described an instance where North Korean hackers deceived a senior engineer at a cryptocurrency exchange by posing as representatives of a Singaporean company. They asked the victim to perform a "technical test" by downloading software that turned out to be phishing malware.
Moreover, AI services like ChatGPT are assisting North Korean criminals in developing more complex and sophisticated forms of malicious software. The era of poorly worded emails with a "click this link" prompt is evolving into a more cunning approach to cybercrime.

? Dennis Liu, also known as Virtual Bacon, shared his bitcoin investment strategy, emphasizing the importance of identifying the optimal moment to sell an asset, which is as crucial as deciding to buy it. He outlined three elements designed to signal that the market might have reached its peak.
1. The first indicator to consider is the achievement of certain price milestones: $200,000 for bitcoin and $15,000 for Ethereum. Liu's assumption is based on historical cycles and diminishing returns. This is a clear, quantifiable indicator that eliminates guesswork when deciding to exit a position.
2. Liu's second benchmark is time-based. Regardless of the price dynamics of the assets, he plans to exit his positions by the end of 2025. This decision relies on the importance of historical patterns and is based on the analysis of halving cycles and the duration of bull markets.
3. The final element of Liu's methodology involves meticulous monitoring of price patterns, specifically the behaviour of BTC relative to its 200-day and 21-week exponential moving averages (EMAs). Falling below these support levels would signal the need to sell bitcoin.

? Analyst Gareth Soloway suggested that bitcoin could potentially retest the $30,000 mark, especially if the stock market undergoes a correction in the range of 20% to 30%. He referred to a new possible support level for bitcoin as the "line in the sand." "My main line in the sand is the level from $30,000 to $32,000. If we drop there, I will start buying quite large volumes of BTC," he stated.

? Investor and founder of MN Trading, Michael Van De Poppe, believes the main question for traders now is how the price of BTC will change in the coming months. The analyst expects a pullback in bitcoin could occur when it reaches the $53,000-$58,000 level. Therefore, investors should wait for a correction of 20-40% before entering the market. However, "if you buy bitcoin with the intention of holding it for two to three years, and if you believe that over this period bitcoin will grow to $150,000, then nothing should stop you from purchasing it at these [current] prices," Van De Poppe wrote.

? Recently, Erik Voorhees, CEO and founder of the cryptocurrency exchange Shapeshift, discreetly urged Apple to purchase several billion dollars' worth of BTC and to adopt the first cryptocurrency as a payment method in Apple Pay. He believes this move could instantly generate substantial profits for the company and contribute to the further spread of cryptocurrency. A similar idea was proposed in 2021 by Michael Saylor, co-founder of MicroStrategy. "If Apple added support for bitcoin to the iPhone and converted its treasury to the bitcoin standard, it would bring its shareholders at least one trillion dollars," he wrote at the time.
Chen Fang, Chief Operating Officer of BitGo, also spoke about Apple, suggesting that integrating BTC into Apple Pay and the new Apple Vision Pro headset would allow the company to dominate payments in the metaverse.
It's worth noting that Apple, the world's second-largest company by market capitalization, has had a complicated relationship with the emerging cryptocurrency sector. In the Apple App Store, applications related to bitcoin and other cryptocurrencies are regularly removed. Over time, apps like MetaMask, Coinbase Wallet, Trust Wallet, and Damus have faced sanctions. Meanwhile, Apple co-founder Steve Wozniak has called bitcoin a sensible investment choice, revealing that he once made significant investments in this digital asset.

? Over the past week, Ethereum has significantly outpaced bitcoin in terms of growth rate. According to Standard Chartered bank, the coin's price could rise to $4,000 in anticipation of the U.S. Securities and Exchange Commission (SEC) approving spot Ethereum ETFs. Bernstein analysts believe the likelihood of this happening is substantial: nearly 50% for a launch by May and almost 100% within the next 12 months. "Ethereum, with its dynamic yield rates, environmentally friendly design, and utility in creating new financial markets, has strong potential for widespread institutional adoption. It is likely the only digital asset alternative to bitcoin that could receive clear ETF approval from the SEC," Bernstein suggests. Analysts believe that officials may be influenced by the fact that participants in the traditional stock market are not only looking to launch spot ETFs on Ethereum similar to bitcoin ETFs but also intend to "build more transparent and open tokenized financial markets on the ETH network, where the utility goes beyond mere asset accumulation."
 

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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CryptoNews of the Week


? Bitcoin appreciated by about 10% in less than a day on March 4, reaching a new all-time high of $69,016. The previous record was $68,917, set on November 10, 2021. The market capitalisation of the leading cryptocurrency exceeded $1.3 trillion. Most of the top 10 crypto assets also saw a 10-30% increase in value over the week.

? The surge in bitcoin on March 4 is reportedly due to purchases by a certain billionaire from Qatar, who flew to Madeira on his private jet for the three-day Bitcoin Atlantis conference. Robert Rodin, CEO of Keychainx, mentioned seeing something at Madeira airport that "could change bitcoin forever." Meanwhile, BTC maximalist Max Keiser shared a video in which El Salvador's President Nayib Bukele greets the Emir of Qatar with the words "It's happening!"
This has sparked discussions about Qatar adding bitcoin to its balance sheet. The validity of such claims remains unproven, but social media is rife with speculation on the matter. It's worth noting that rumours have been circulating for several months about one or two sovereign wealth funds or investment companies from the Middle East secretly buying up bitcoin. There's also the mysterious Mr. 100BTC, who, according to rumours, has been consistently buying 100 bitcoins every day since November 2022. This individual has never emerged from the shadows, but if he does indeed exist, he would have amassed about 60,000 coins to date.

? "We have entered the era of the bitcoin gold rush. It started in January 2024 and will last approximately until November 2034," declared Michael Saylor, the founder of MicroStrategy, speaking at Bitcoin Atlantis. According to his calculations, by that time miners will have extracted 99% of all coins, marking the beginning of the "growth phase." (Currently, 93.5% have already been mined, according to BitcoinTreasuries data).
Saylor believes that at present, only 10-20% of asset managers are interested in spot BTC-ETFs. In the future, as existing barriers are removed, this figure is expected to approach 100%. "When they [the managers] can buy BTC through a bank, a platform, or a prime broker, they'll spend $50 million in an hour," he stated. The MicroStrategy founder is also confident that "the day will come when bitcoin surpasses gold and will be traded more than the S&P 500 ETFs."

? Since its network launch in 2009, bitcoin has repeatedly proven its viability. Over the years, the cryptocurrency has managed to surpass many traditional currencies. Currently, BTC has outperformed the Russian rouble in market capitalisation and occupies the fourteenth position in the overall ranking of the world's largest currencies. Its nearest competitor is the Swiss franc. (Following the news that bitcoin surpassed the rouble, the internet was flooded with jokes suggesting that Vladimir Putin is Satoshi Nakamoto).
In the overall ranking of the most capitalised assets, which includes precious metals and companies, bitcoin has taken the tenth place. It surpassed Berkshire Hathaway, the company of well-known cryptocurrency critic billionaire Warren Buffett, but fell short of Meta. The top three positions are currently held by gold, Microsoft, and Apple. Additionally, bitcoin's market capitalisation ($1.3 trillion) has reached the GDP levels of many countries. For instance, the Gross Domestic Product of Saudi Arabia is $1.108 trillion, and Indonesia's is $1.319 trillion.
Following bitcoin, Ethereum is positioned at twenty-eighth in the overall ranking of the most capitalised currencies. ETH's result was better than that of the Chilean peso but worse than the Turkish lira.

? Anthony Scaramucci, the founder of Skybridge and former White House Communications Director, asserts that US President Joe Biden has a positive impact on cryptocurrency and the financial markets at large. To support his statement, Scaramucci cited Biden's legislative proposals related to digital assets.
According to the Skybridge chief, the current president's commitment to the rule of law will expedite the establishment of regulations for the crypto industry. "While these rules may not please everyone," Scaramucci writes, "having clear guiding principles will provide a solid foundation for legal arguments in court. [Thanks to this,] we will continue to win against the Biden administration in the United States judicial system."

? Robert F. Kennedy Jr, a contender in the US presidential race, admitted last year that he bought bitcoins for his children. The politician believes that BTC is the best alternative to central bank digital currencies (CBDCs) because it offers financial freedom to people.
In a recent interview with CNBC, Robert Kennedy reiterated his view of BTC as the superior currency, emphasizing that it allows Americans to transfer funds anywhere with minimal costs and complete anonymity. "Banks are trying to destroy digital currency and hinder the development of its infrastructure. However, the process of integrating cryptocurrency cannot be stopped anymore, and the repressive measures of the authorities against this instrument only increase its popularity," stated the presidential candidate.

? According to Professor of Physics Giovanni Santostasi, bitcoin could appreciate 64 times in the next 15 years, reaching $10.63 million. This forecast is based on a power-law model.
A power-law relationship is a mathematical connection between two quantities where a relative change in one quantity leads to a proportional relative change in the other, regardless of the initial values of these quantities. The relationship between one quantity and another represents a power function. This law is observable in a wide range of natural phenomena, from the frequency of earthquakes to the dynamics of stock market changes.
Santostasi stated that this model provides a clear and predictable scenario for the price change of the first cryptocurrency over long periods. However, over shorter spans, which the media primarily focuses on, the quotations behave chaotically.
According to the professor, unlike the well-known S2F (Stock-to-Flow) model by the analyst known as PlanB, the power law is logarithmic, not exponential. In other words, the price of bitcoin is not expected to rise continuously over time. According to Santostasi's calculations, the digital gold will peak at $210,000 in January 2026, then drop to $60,000, and after that, it will continue its wavy growth to $10.63 million.

? Experts at JPMorgan suggest that the upcoming bitcoin halving in April could trigger a significant drop in the price of the first cryptocurrency. The algorithmically mandated reduction of the mining reward from 6.25 BTC to 3.125 BTC will decrease mining profitability. Based on this, economists at JPMorgan, led by senior analyst Nikolaos Panigirtzoglou, predict that the price will fall to $42,000 after the halving.
"The cost of mining bitcoin empirically acts as a price floor," their report states. "Currently, the cost of mining is $26,500. After the halving, this figure will be $42,000." "This is also the level towards which we believe the price will gravitate once the post-halving euphoria subsides in April," JPMorgan notes.
The experts also considered the possibility of a 20% drop in the bitcoin network's hash rate, primarily due to the mass disconnection of low-efficiency equipment. Consequently, the capacity may concentrate among large cryptocurrency miners who have taken measures to reduce costs and maintain efficiency. "There might also be some horizontal integration through mergers and acquisitions among miners in different regions to take advantage of synergies in their business," concluded the specialists.

? Trader Gareth Soloway has identified a critical factor that could propel bitcoin's price to another historical high of $100,000. The expert pointed to a dilemma in the US Federal Reserve's monetary policy management amidst approximately 3% inflation. He emphasized that the institution's reluctance to aggressively cut rates could sustain high inflation, potentially contributing to bitcoin's upward trend. "If we see an increase in liquidity (which is bound to happen), then bitcoin will rise to $100,000 in 2024," writes Soloway. On the way to the mentioned round figure, like the JPMorgan experts, the trader does not exclude a short-term bearish correction. However, in his opinion, the upcoming halving in itself does not guarantee the digital gold's rise to the specified amount.

? Researchers from the University of Texas in the USA have discovered that over four years, cryptocurrency scammers utilizing the "pig butchering" scheme could have stolen more than $75 billion. The "pig butchering" scheme is a fraudulent attack where cybercriminals convince unsuspecting people to invest in a doomed or non-existent business. Once the victim believes and hands over their money, the scammers immediately disappear.
According to the study, from January 2020 to February 2024, such criminals duped at least 4,000 people. The illegal operations predominantly took place in Southeast Asia. The researchers found that tracked transactions amounting to $15 billion out of the reported $75 billion led to five cryptocurrency exchanges: Binance, Coinbase, OKX, Crypto.com, and HTX (formerly Huobi). The favorite asset among criminals was the stablecoin Tether (USDT), with more than 84% of the total transaction volume attributed to this popular coin.
Paolo Ardoino, CEO of Tether's issuer, stated that the report is rather misleading. "Every Tether transaction occurs online, so any action can be tracked, assets can be confiscated, and the criminal caught. This is why we cooperate with law enforcement agencies," he commented to Bloomberg. It's noteworthy that the United Nations (UN) has also previously stated that USDT is one of the most popular means of payment among criminal groups in Southeast Asia. Representatives of the issuer then questioned the accuracy of such data.

? In the summer of 2022, it would have been the 110th birthday of Milton Friedman, the great economist and Nobel Prize laureate, often called "the most influential economist of the second half of the 20th century." Back in 1999, Friedman gave an interview in which he predicted the emergence of digital currencies. He described a system where transactions are conducted electronically, and the parties involved do not need to know each other's identities. In his forecast, Friedman highlighted the potential of digital currencies to provide unprecedented privacy and efficiency in financial transactions, marking a significant departure from traditional banking systems.
"I think that the internet is going to be one of the major forces for reducing the role of government," said the distinguished scientist at the time. "The one thing that?s missing but will soon be developed is reliable electronic cash, a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A."
 

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market

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CryptoNews of the Week


? Roger Ver, introducing his new book "The Hijacking of Bitcoin: The Hidden Story of BTC," announced that bitcoin has been captured by a group of insiders. According to this experienced investor, this development has altered the project's philosophy. Jeffrey Tucker, an economist, and the founder of the Brownstone Institute, who contributed to the book, lamented that the story it tells is tragic because the opportunity to change the world with bitcoin was stolen. Bitcoin could have liberated society, but it failed to do so.
Previously, Roger Ver had stated that he considers Ethereum more valuable, despite its lower market capitalisation, because the ETH project does much more for the widespread adoption of cryptocurrencies than bitcoin.

? According to Bitcointreasuries, a significant portion of the first cryptocurrency is owned by various organisations, including government and private investment companies, governments, exchange and investment funds. Together, they hold approximately 12% of the total volume of bitcoins. Around 10% is stored on centralized cryptocurrency exchanges, and another 8.09% belongs to accounts that have been inactive for many years.
The Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund lead the cryptocurrency market in terms of bitcoin volume, holding 380,241 BTC, 230,617 BTC, and 132,571 BTC, respectively.
Among public companies, MicroStrategy has emerged as the largest holder of bitcoins, with 205,000 BTC on its balance sheet. Marathon Digital holds the second position with 15,741 BTC, followed by Tesla and Coinbase Global in third and fourth places with 9,720 BTC and 9,480 BTC, respectively.
In the realm of private companies, according to available information, Block.one leads in ownership levels with 164,000 BTC. Following it is the MTGOX exchange with a balance of 141,686 BTC. Stablecoin issuer Tether owns 66,465 BTC. The fourth position is occupied by the BitMEX exchange with 57,672 BTC.
In the ranking of bitcoin ownership among states, the USA leads with 215,000 BTC, followed by China with 190,000 BTC, the UK with 61,000 BTC, and Germany with 50,000 BTC.
Adding these figures to the share of the asset attributed to bitcoin's founder, Satoshi Nakamoto (4.76%), it can be concluded that about 35% of mined BTC is unavailable to other private investors. This, to some extent, confirms the conclusion made by Roger Ver.

? Around 48% of voters who own digital assets plan to vote for Donald Trump in the upcoming U.S. presidential elections, according to a survey by Paradigm. Another 38% prefer the current President, Joe Biden, while 13% are undecided about their candidate choice. Additionally, 69% of respondents are dissatisfied with the current state of the country's financial system. 49% of those surveyed stated they do not trust either of the U.S. parties regarding digital asset issues.
The survey data indicates that 19% of registered American voters own digital assets, 7% of respondents own cryptocurrencies valued at over $1,000, and 1% own more than $10,000 worth of cryptocurrencies.

? A British court has ruled that Craig Wright is not Satoshi Nakamoto. The legal proceedings initiated by the Crypto Open Patent Alliance (COPA) against Wright began in 2021. The organisation filed a lawsuit against the businessman to prevent him from claiming intellectual property rights to bitcoin technology. The court has now delivered its verdict: "Firstly, Dr. Wright is not the author of the bitcoin white paper. Secondly, Wright is not the individual who acted under the pseudonym Satoshi Nakamoto from 2008 to 2011. Thirdly, he is not the person who created the bitcoin system. And fourthly, Wright is not the author of the original versions of the first cryptocurrency's software."
Furthermore, the court has suspended two other cases involving Wright ? lawsuits against Coinbase and Block. It is possible that a restraining order will be issued to prevent Wright from ever claiming to be Satoshi Nakamoto, though a final decision on this matter has yet to be made.

? India's Finance Minister, Nirmala Sitharaman, has taken a firm stance on bitcoin and other crypto-assets, stating that they cannot be considered real money. According to her, cryptocurrencies are primarily used for trading, speculation, and profit-making. They do not function as traditional currencies issued by central banks and thus thrive solely due to market manipulations.
Ms. Sitharaman highlighted that cryptocurrencies are still unregulated in India, and this issue has been raised at the G20 forum. The minister believes it is crucial for G20 member countries to establish a unified international regulatory framework for cryptocurrencies, which would help manage their risks.

? The Government Pension Investment Fund (GPIF) of Japan, with assets of approximately $1.5 trillion, will consider portfolio diversification options, including the inclusion of the leading cryptocurrency. This initiative is part of an exploration of innovative investment strategies and is a response to economic and social changes as well as rapid technological developments.
Currently, the GPIF invests in traditional assets such as domestic and foreign stocks and bonds, as well as alternative instruments like real estate.

? Analysts at Standard Chartered have revised their bitcoin price target for the end of 2024 from $100,000 to $150,000, with Ethereum potentially reaching $8,000 by the same date. By the end of 2025, the first and second cryptocurrencies could appreciate to $200,000 and $14,000, respectively.
The change in expectations is driven by the excitement around spot bitcoin ETFs and the sharp increase in the asset's price since January. The analysts justified their forecast based on the dynamics of gold following the approval of ETFs and the optimization of the ratio of the precious metal to its digital counterpart at 80% to 20%.
According to Standard Chartered experts, if inflows into ETFs reach $75 billion, bitcoin could increase in value even more ? up to $250,000. Actions by sovereign wealth funds could also accelerate growth rates. "We see a growing likelihood that major reserve managers might announce bitcoin purchases in 2024," the analysts say.

? Dan Tapiero, CEO of the investment company 10T Holdings, has also mentioned a figure of $200,000. "I don't think it's that crazy," he stated. According to the financier's calculations, the potential for a threefold increase from the current price roughly corresponds to the percentage difference between the peaks of 2017 and 2021. Moreover, from the lows of the bear market to the peak of 2021, digital gold increased in value by 20 times. This suggests a $300,000 benchmark as a positive scenario.
"It's hard to set specific points and times in such matters. I think we will reach this [zone] within the next 18-24 months, maybe even sooner," Tapiero believes. "A reduction in supply during a rapid increase in demand for ETFs, along with the halving, indicates a significant growth potential. I think the first cryptocurrency will pull everything else up with it."
The CEO of 10T Holdings also noted "good chances" of approval for exchange-traded funds based on Ethereum. However, he found it difficult to say whether these ETFs would be registered in May or if it would happen later.

? After reaching a new all-time high of $73,743 on March 14th, bitcoin experienced a sharp decline, losing about 13%. Some experts do not rule out further temporary decreases. For instance, Kris Marszalek, CEO of Crypto.com, believes that the current volatility of BTC is actually low compared to previous cycles, mainly due to the options market. Michael Novogratz, CEO of Galaxy Digital, is confident that the bottom line is at $50,000, and the coin's price will never fall below it unless a dramatic event occurs. According to him, bitcoin's growth is mainly supported by investors' insatiable appetite for the token, rather than macroeconomic factors such as the policies of the US Federal Reserve. JPMorgan analysts have more cautious feelings towards BTC, stating that the halving is unlikely to be a bullish catalyst for the coin. According to their forecast, bitcoin could fall by 33% after this event.

? The artificial intelligence of OpenAI's ChatGPT, when asked whether the BTC price could reach $100,000 on the eve of the halving, acknowledged this target as plausible. According to the AI's calculations, the current correction in no way affects the growth prospects and only confirms the inaccuracy of short-term forecasts. ChatGPT estimated the probability of reaching $100,000 at 40%, while the probability of hitting the $85,000 mark was assessed at 60%.

? BeInCrypto's editorial team discovered the origin of rumours claiming Vladimir Putin is Satoshi Nakamoto. It appears that Daniel Pe?a, also known as the "Trillion Dollar Man," an American businessman and founder of Quantum Leap Advantage, initiated them. His first statements linking the Russian President to cryptocurrency date back to 2019. Since then, the entrepreneur has repeatedly supported his theory. Pe?a believes that Putin benefits from the creation of bitcoin, as the cryptocurrency could undermine the position of the US dollar in the financial market and destabilize the American economy. Despite the lack of evidence for these claims, this theory has taken root and has become a meme over the years.
 

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews of the Week


? According to Ki Young Ju, CEO of the analytical platform CryptoQuant, the price of bitcoin needs to exceed $80,000 post-halving to remain profitable for miners. This significant event is scheduled for April 20, 2024. As a result, miners? block rewards will be halved, while the costs to mine the same amount of coins will conversely increase.
Historically, the price of bitcoin tends to rise after a halving. In 2012, the asset appreciated by nearly 9000% to $1162. In 2016, the cryptocurrency price soared by approximately 4200% to $19800. Following the last halving in May 2020, BTC's value increased by 683% to $69000, while mining costs rose to $30000. Currently, the average cost to mine 1 BTC is $49900, with the asset trading close to $70000. Post-April 20, mining expenses will exceed $80000, hence the asset needs to trade above this level for miners to continue making a profit. However, according to some experts, bitcoin's growth does not start immediately. The industry must endure a difficult period, and small mining companies and individual miners face a wave of bankruptcies.

? In the medium term, halving acts as a bullish catalyst for the crypto market. However, prices may fall both before and after the event, believes Arthur Hayes, former CEO of BitMEX. ?The narrative that halving block rewards positively impacts cryptocurrency prices has become entrenched. When most market participants agree on a certain outcome, the opposite usually happens,? stated the expert.
He noted that the market would face a reduction in dollar liquidity in the latter half of April, driven by the tax payment season, the Federal Reserve's policies, and the strengthening of the US Treasury's balance sheet. This factor will be an additional incentive for a "furious sell-off of cryptocurrencies," Hayes believes. "Can the market defy my bearish predispositions and continue to grow? I hope it can. Having been involved in cryptocurrency for a long time, I welcome being proven wrong."
In May-June, the situation should improve: the Fed will begin to ease its monetary policy and the Treasury is likely to inject an additional $1 trillion into the system, which will pump the markets, added Hayes. ?The set of tricks from the regulators has only reinforced my decision to refrain from trading bitcoin until early May. Missing a few percentage points of profit but definitely avoiding losses for my portfolio is an acceptable outcome,? he declared.

? Brad Garlinghouse, CEO of Ripple, suggested that the market capitalization of the crypto industry might double by the end of this year, surpassing $5 trillion. In an interview with CNBC, he stated he is "very optimistic" about macroeconomic trends in the crypto industry, such as the introduction of spot bitcoin ETFs (ETFs). According to Garlinghouse, BTC-ETFs have attracted real institutional investments into the industry for the first time. Another macro factor that could lead to market capitalization growth, he noted, is the halving. The Ripple head also expects more clarity in regulation following the US presidential elections. "The United States remains the world?s largest economy and, unfortunately, one of the most hostile markets for cryptocurrencies," Garlinghouse remarked.

? Lucas Kiely, CIO of the financial platform Yield App, stated that the upcoming halving should not be expected to cause a sevenfold increase in bitcoin's price. According to Kiely, during the previous three cycles, halving the miners' rewards heralded a huge increase in volatility levels. After the halving, BTC's price dropped by 30-40% but then soared to unprecedented heights within 480 days. However, this year, he believes, the "cryptocurrency flight to the Moon" will not occur.
Lucas attributes the decrease in volatility to two factors: 1. an increase in the number of bitcoins held by hodlers owning more than 70% of the issued coins, and 2. the creation of BTC-ETFs, whose issuers withdraw an average of 10,000 BTC coins worth about $700 million from circulation daily. As a result, bitcoin is becoming a traditional asset, less risky but also less promising in terms of huge profits. Kiely believes that this factor makes the coin more attractive to institutional investors and older people who prefer to invest in reliable assets and avoid gambling.

? Anthony Scaramucci, CEO of Skybridge, claimed that bitcoin could grow 2.5 times in this cycle but will continue to grow in the longer term. "I'm simply saying that bitcoin's market capitalization could reach half that of gold, which means it could increase six or even eight times from its current figures." Note that bitcoin's current market capitalization stands at $1.35 trillion, while gold is valued at $15.8 trillion. Thus, if BTC reaches half of gold?s capitalization, its price will approximately be $400,000 per coin. Scaramucci described the spot BTC-ETFs launched in January as "selling machines." In the three months since their inception, the capitalization of these 10 ETFs (excluding the Grayscale fund) has exceeded $12 billion. According to the CEO of Skybridge, they will continue to boost demand for the leading cryptocurrency from both retail and institutional investors.

? Two malicious extensions for Google Chrome enabled the theft of $800,000 in cryptocurrency from the wallets of a trader known as Sell When Over, he informed his followers on the social network X. The trader suspected that the extensions named "Sync test BETA (colourful)" and "Simple Game" contained keyloggers, which are tools cybercriminals use to record every keystroke of the victim's computer, thus gaining access to sensitive information.
Sell When Over reported that the issue arose after Google Chrome released an update in March. Following a forced reboot, he discovered that all his extensions were disabled, and their tabs deleted. He had to reinstall the applications and re-enter his data, including seed phrases for access to his crypto wallets. It was after this that he lost $800,000. Initially, the trader was not sure that the malicious extensions were to blame. However, a subsequent investigation confirmed that keyloggers were indeed the culprit.

? Mike Novogratz, founder of Galaxy Digital, admitted in a recent interview that he had invested a significant portion of his capital in bitcoins and altcoins. He highlighted that while housing prices in the US had doubled over the last 12 years, wages had not kept pace. "Cryptocurrency has become a means for many people to lead a normal life," he emphasized, expressing confidence that bitcoin should be a part of every portfolio.
Regarding Ethereum and Solana, the businessman believes the value of their ecosystems will depend on their ability to attract new users. Additionally, Novogratz pointed out the great potential of Dogecoin and Cardano and mentioned that blockchain-based games are becoming increasingly popular.

? In a survey conducted by Deutsche Bank, 15% of respondents said that bitcoin would trade above $40,000 but below $75,000 this year. A third of respondents were confident that the price of bitcoin would fall below $20,000 at the beginning of next year. Meanwhile, 38% believed that the primary cryptocurrency would cease to exist in the market altogether. About 1% of respondents called bitcoin a complete misunderstanding and speculation.
Despite such survey results, Deutsche Bank remains convinced that the price of bitcoin will continue to rise. The market is in a state of anticipation for the upcoming halving, and investments in spot bitcoin ETFs continue to increase from major financial institutions.

Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews of the Week


- As expected, on April 20, the fourth halving occurred on the bitcoin network at block #840000. The reward for mining a block has been reduced from 6.25 BTC to 3.125 BTC. It's worth reminding that a halving is the event that reduces the reward for mining new blocks in the bitcoin blockchain by half. This event is encoded in the code of the first cryptocurrency and occurs every 210,000 blocks: until the mining of 21 million coins, presumably in 2040, when the cryptocurrency's emission will end. The fourth halving will ensure that about 95% of all bitcoin emission is mined, with approximately 99% of all coins mined by 2033-2036. Following that, the emission will gradually move towards zero.
Economist and author of the cult book "The Bitcoin Standard," Saifedean Ammous, congratulated the crypto community on the halving. "For the first time in history, people have a form of money whose supply increases by less than 1% per year. [...] The harder the money, the slower its supply increases, the better it retains value in the future, and allows for planning and securing the future," he wrote.

- In the days following the halving, there was no increase in volatility. The price of bitcoin slowly and lazily moved upwards, reaching $66,000 at the time of writing this review. It seems that market participants are frozen in anticipation of who will start buying or selling the main cryptocurrency en masse. However, the founder of venture company Pomp Investments, Anthony Pompliano, believes that within 12-18 months, the coin is likely to first undergo a correction and then rise to $100,000 with chances of reaching $150,000-200,000. "At the moment, the probability of a decrease is quite small. [...] I see no reasons for the rate to drop below $50,000. I think we have already crossed this Rubicon," the entrepreneur believes.
Pompliano recommended buying gold to those looking for capital protection from the fall and the first cryptocurrency to those aiming to increase their purchasing power. "After the previous halving, the first cryptocurrency appreciated eightfold despite volatility. Name any other asset that has shown such high returns over a four-year cycle," he stated, revealing that he invested about half of his personal funds in the first cryptocurrency.

- Analysts at QCP Capital believe that bitcoin optimists will need to wait at least two months before assessing the impact of the recent fourth halving. "The spot price has only grown exponentially 50-100 days after each of the previous three halvings. If this pattern repeats, bitcoin bulls still have weeks to build a larger long position," their report states.

- According to Bitfinex experts, the post-halving supply restriction will stabilize the price of the first cryptocurrency and may contribute to its growth. "The decrease in the pace of bitcoin issuance after halving, which will amount to $30-40 million per day, sharply contrasts with the average daily net inflow of $150 million into spot ETFs. This underscores a significant demand and supply imbalance which may contribute to further price growth," the Bitfinex report indicates.

- A sharp increase in transaction fees on the day of the halving gave Euro Pacific Capital president and "gold bug" Peter Schiff another reason to declare the failure of the first cryptocurrency. On April 20, amid the reduction of the block reward, the average size of fees in the network jumped to a record $128.45. Experts largely linked this to the hype associated with the event around the launch of the Runes protocol.
"The cost of completing a transaction now stands at $128, and its processing takes half an hour. This is another reason why bitcoin cannot function as a digital currency. The costs of using it in this capacity are disproportionately high. This is a failure," Schiff declared. (And he was wrong. Shortly thereafter, the rate dropped nearly 73% to $34.86.)
In the comments, users asked the well-known gold advocate how much it would cost to safely deliver a pound of precious metal around the world. An estimate ranging from $800,000 to $2.3 million depending on the method and speed was voiced. "Remind me, how much does it cost to transport a gold bar to the other end of the world in half an hour?" Jameson Lopp, co-founder of Casa, sarcastically remarked about speed. Schiff responded that it didn't matter since people no longer use precious metal as currency.

- Speaking at a pre-election rally in Michigan, Robert Kennedy Jr. announced to the attendees that if he is elected President of the USA, every American will have the opportunity to review any budget item. "I will move the entire US budget to the blockchain, and we will have 300 million observers over it. If someone spends $16,000 on a toilet seat, everyone will find out!" he declared.
The presidential candidate believes that taxpayers have the right to know exactly what their money is being spent on. According to the politician, blockchain and cryptocurrencies should help the USA remain a leader in innovation and maintain the financial freedom of its citizens. Robert Kennedy Jr. had previously supported bitcoin, stating that the first cryptocurrency takes financial control away from the government and the monopolistic banking system.

- The crypto exchange CoinEx has put up for sale the first satoshi mined after the halving. Buyers can place bids in bitcoins on the auction page. A satoshi is one-hundred-millionth of a bitcoin (0.00000001), and the organisers of the auction hoped that collectors would pay several tens of millions of dollars for this "epic" coin. However, at the time of publication, the highest bid is only 2.5 BTC, which is about $165,000, although this price exceeds the value of one ordinary satoshi by 250 million times. The auction will end on April 26. The exchange will notify participants of the results via a message on the website and by email.

- Fidelity Digital Assets, a leading issuer of one of the spot BTC-ETFs, has revised its mid-term forecast for bitcoin from positive to neutral. The reason for the departure from optimistic views is several worrying trends in the crypto market. Fidelity analysts noted the growing interest in selling from long-term bitcoin hodlers. A large percentage of profitable addresses is currently noted in the report. This means that holders may want to lock in profits and start selling BTC. On the other hand, on-chain data also indicate that small investors continue to accumulate the first cryptocurrency. Since the beginning of the year, the number of addresses holding at least $1,000 in BTC has increased by 20% and reached a new all-time high. "This trend may indicate the growing proliferation of bitcoin and its acceptance among 'average' users," Fidelity notes.

- Investments in bitcoin by "new" whales have almost doubled the indicator of "old" major players. These assessments were shared by the CEO of CryptoQuant, Ki Young Ju. The expert attributed to the "whale" addresses not associated with CEX and miners with a balance of over 1000 BTC. The "new" category includes owners of coins "aged" less than 155 days; "old" exceed this term.
Specialists at CryptoQuant examined the dynamics of the 7DMA ratio of the SOPR indicator applied to these categories of investors and made conclusions similar to those of their colleagues from Fidelity. The elevated metric value showed high profitability of "old" hodlers compared to "newcomers," which could lead to the formation of price peaks. Analysis of the current situation also speaks of the need to exercise caution in anticipation of possible corrections and increased volatility.
Recall that earlier, specialists from JPMorgan noted that digital gold is in an overbought state. And CMCC Crest co-founder Willy Woo warned that if bitcoin falls below $59,000, the market risks entering a bear phase.

- Representatives of the initiative group of cryptocurrency supporters want to convince the Swiss Bank board to add bitcoins to the CB's reserves. The meeting on this issue will take place on April 26, where the concept of supporters of digital gold will be presented. In their opinion, such a step will strengthen the independence and neutrality of the state. Including BTC in its reserves, Switzerland would show the world that it has an independent financial policy from the European Central Bank.
Recall that back in 2022, the initiative group recommended the country's central bank to buy bitcoins for 1 billion Swiss francs (about $1.1 billion) instead of German government bonds, but the regulator ignored this proposal. However, now everything may change. Recently, Switzerland has been providing the most favourable conditions for the development of the cryptocurrency industry, which is why the government of El Salvador even opened its office in the country to jointly develop initiatives related to bitcoin.

- Christian Langlois, also known as Bitcoin Sign Guy, made headlines in 2017 when he displayed a notebook page with the message "Buy Bitcoin" behind Federal Reserve Chair Janet Yellen. At that moment, the FRB Chair was testifying about the state of the US economy. This image instantly spread across the network and became one of the symbols of the emerging crypto industry.
For his act, the 22-year-old intern Langlois was disgracefully expelled from the hearings. But after this episode was broadcast on television, enthusiasts sent seven BTC to his crypto wallet to thank the young man for his bold move. Four years ago, Christian sold 21 copies of the notable sheet at an average price of 0.8 BTC each, thus earning an additional 16.8 BTC. As a result, his total earnings reached 23.8 BTC, which is more than $15 million at the current rate.
And just a few weeks ago, Langlois was offered another 5 bitcoins for the original, but he refused to sell the sheet. Nevertheless, Christian liked the idea of further monetizing the self-created object of "artistic and historical heritage," and he decided to sell it at an auction. The winner's name will be announced late in the evening on April 24 at the New York snack bar Pubkey, and the young man plans to direct the proceeds to finance his startup, Tirrel Corp. At the time of writing the review, the sheet is offered for $140,000, but the auction is not yet over.


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews of the Week


? Anthony Pompliano, founder of Pomp Investments, asserts that bitcoin is "stronger than ever." This conclusion is based on the 200-day moving average (200 DMA) reaching its all-time high above $56,000. "In the long term, digital gold continues to appreciate. It is misleading to comfort oneself with the idea of a sideways trend. The long-term thesis is stronger than ever," the expert stated.

? Willy Woo, analyst and co-founder of CMCC Crest, has highlighted the activity of so-called crypto 'dolphins' and 'sharks.' "There has never been such vigorous coin accumulation by wealthy holders as in the last two months, with prices fluctuating between $60,000 and $70,000. These are individuals who hold between 100 BTC and 1,000 BTC, or approximately $6.5 million to $65 million," he explained. Willy Woo anticipates that bitcoin will continue to penetrate various aspects of daily life, thereby increasing the number of users. "By 2035, we expect the fair value of bitcoin to reach $1 million. This forecast is based on the user growth curve, and I am talking about fair value, not the peak during a bull market frenzy. Bitcoin was not traded until the thousandth user appeared, and only after the launch of the cryptocurrency exchange Bitstamp in 2011 did global platforms for asset valuation emerge. Since 2012, the BTC price has largely matched the growth in user numbers," noted the analyst.

? According to analysts at CryptoQuant, whales holding between 1,000 and 10,000 BTC, unlike dolphins and sharks, behave quite passively. Meanwhile, Michael Van De Poppe, founder of MN Trading, has pointed out the "absence of retail investors." He predicts that in the event of another correction, the coin could drop to around $55,000. "However, this range is quite acceptable as long as bitcoin remains above $60,000. Altcoins are slowly awakening," he added.

? Trader and analyst known as Rekt Capital reported that the first cryptocurrency has exited the post-halving "danger zone" and entered a phase of reaccumulating. According to this expert, in 2016, after the halving, BTC demonstrated a long red candle on the weekly chart, decreasing by 17%. This time, however, the pattern repeated with a correction of just 6%. The price reached a local bottom at around $56,500 but then increased by 15% and re-entered the "reaccumulating range." The analyst warned that technically, the "danger zone" will continue until the end of this week when the third post-halving weekly candle closes. From a price perspective, the "reversal effect" has already occurred.

? Robert Kiyosaki, bestselling author of "Rich Dad Poor Dad" and entrepreneur, has declared a crash in the currency market. "Bad news: the crash has already begun. It will be severe. Good news: a crash is the best time to get rich," he wrote, offering several recommendations on how to act during a crisis. The first recommendation is: "Find an additional source of income. Artificial Intelligence will destroy millions of jobs. Start a small business and become an entrepreneur rather than an employee who fears losing their job." The second advice from Kiyosaki is: "Do not save fake money (US dollars, euros, yen, pesos) which are declining in value. Save gold, silver, and bitcoin ? real money whose value increases, especially in market crash conditions."

? Over the last decade, the main cryptocurrency has risen by an astonishing 12,464%, surpassing tech giants such as Amazon, Alphabet, and Netflix. However, according to a study by WuBlockchain, Nvidia shares took the lead, showcasing an even more impressive growth of 17,797%. This was facilitated by the company's cutting-edge graphics processors and semiconductor devices. The fact that bitcoin secured the second place, being a representative of a highly volatile market, is a true achievement. The impressive growth trajectory of BTC over the last decade demonstrates its resilience and potential as a viable investment vehicle. Given that investors are actively diversifying their portfolios and seeking ways to achieve potentially high returns, the analysis conducted by the WuBlockchain team serves as a valuable reference point that highlights the impressive dynamics not only of traditional tech company stocks but also of modern digital assets.

? According to data from Clark Moody, more than 1 billion transactions have already been processed in the bitcoin network. Comparing network indicators with the international payment system Visa, it is notable that the first cryptocurrency's blockchain reached the billion milestone in just 15 years, while Visa required almost a quarter of a century. The average number of daily transactions in the BTC network, as detailed by The Block, is around 505,000, which is a sign of growing recognition for "digital gold." It should be noted that bitcoin is not the record holder in this indicator: the Ethereum network currently has around 2.4 billion transactions.

? On May 1, bitcoin updated the minimum from April 17-19, which has heightened investor concerns. Amid such fluctuations, Michael Saylor, CEO of MicroStrategy, has become a symbol of bullish optimism. In his latest message, he urged investors to "run with the bulls." It should be noted that with 205,000 BTC on its balance sheet, Saylor must exude optimism to prevent his company from incurring losses. However, analysts note that in reality, the fate of bitcoin depends not only on the sunny calls of the CEO of MicroStrategy. If buyer support weakens, BTC may return to key support levels at $61,000 and $56,000, where significant liquidity is concentrated.

? American and British scientists have published a study titled "The Impact of Cryptocurrency-Generated Wealth on Purchasing and Investment in Private Residences." The researchers examined financial transaction data for more than 60 million residents of the USA conducted from 2010 to 2023 and found that the rise in cryptocurrency prices causes a significant increase in real estate prices. In states such as California, Nevada, and Utah, where many residents became wealthy in 2017 due to the multiple increase in BTC prices, the value of real estate increased by an average of $2,000 annually, and every dollar earned from cryptocurrencies increased property prices by 15 cents.


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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