Hopefully Bitcoin runs to $100,000 by 2023, now add 3 more pieces of good news!
Recently, Jesse Powell, co-founder and former CEO of cryptocurrency exchange Kraken, predicted on the Bankless podcast that the next bitcoin halving is expected to happen in the first half of 2024, which could be the next bullish catalyst for the market.
During this time, the FTX thunderstorm pulled down the price of the coin, leaving the current price at an unreasonably low level, but the industry's black swan negatives will eventually be digested by the market after all.
All along, bixin has been very concerned about the cryptocurrency market, and is also a faithful pursuer of bitcoin. We firmly believe that more and more public chain thunderstorms will only make bitcoin's financial attributes and status more and more prominent and stable, and become an asset reserve choice for more people. With the strengthening of regulation and people's broader perception of bitcoin, the bitcoin bull market will definitely come, and the rise is just a matter of hold. We have three reasons to be bullish about bitcoin, and welcome more friends to discuss the future of bitcoin and even cryptocurrencies with bixin.
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Ⅰ El Salvador Has Established a National Bitcoin Office
Bitcoin has been actively promoted ever since the President of El Salvador made it a legal tender in the co
Recently, the President of El Salvador, Nayib Bukele, has signed Decree No. 49 establishing the National Bitcoin Office (ONBTC), which will act as an executive branch with functional and technical autonomy. one of ONBTC's responsibilities is to provide information about bitcoin, blockchain and cryptocurrencies in El Salvador to the media and anyone who is interested.
In addition, ONBTC will assist foreign cryptocurrency businesses and investors seeking to do business in El Salvador, and actively promote El Salvador's participation in various international forums summit.
The Director of the Bitcoin Office will be appointed by the President, who will have the authority to appoint staff as needed to carry out the duties of the agency.
Despite the continued downturn in bitcoin, Nayib Bukele remains firmly bullish, and even tweeted on the afternoon of the 17th that starting tomorrow, we will continue to buy one bitcoin a day.
ⅡNon-Whale Bitcoin Investors Break New BTC Accumulation Record
According to a report released in November by blockchain intelligence platform Glassnode, smaller retail investors are increasingly bullish on bitcoin and are starting to accumulate more BTC despite the ongoing market crisis.
At least two types of retail bitcoin investors have been accumulating record amounts of BTC.
The first type of investor - categorized as the shrimp - defines entities or investors holding less than 1 Bitcoin, which at the time of writing is $16,500, while the second type of investor - the crab - is a category of addresses holding up to 10 BTC, which at the time of writing is $165,000.
Shrimp" investors reportedly increased their portfolios by 96,200 BTC ($1.6 billion)). This is "historically high balance
growth". "Crab" purchased about 191,600 BTC, or $3.1 billion, which is also a "compelling all-time high".
Bitcoin is still bullish despite the ongoing crisis, with Twitter CEO Elon Musk saying it "will succeed" despite current industry problems, but that there could be a "long crypto winter".
Ⅲ Brazilian lawmakers approved a complete regulatory framework for cryptocurrency trading and use in the country.
The new rules, voted on Tuesday night in the country's capital, Brasilia, recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the South American country.
The bill charges the executive branch with choosing government agencies to oversee the market. It is expected that the Brazilian Central Bank (BCB) will be in charge when bitcoin is used as a payment, while the country's Securities and Foreign Exchange Commission (CVM) will be the overseer when used as an investment asset. both the BCB and CVM, as well as the Federal Tax Administration (RFB), help lawmakers develop reform legislation.
Latin America has always been very favorable to bitcoin. As the birthplace of a vibrant cryptocurrency economy, Brazil sometimes has more citizens trading coins like bitcoin than investing in the stock market. Now, the country is trying to lay the groundwork for this to translate into more everyday use in financial transactions.
2022 is quickly coming to a close, and while we've been overrun by bear market for the most part and have had some bad things happen to us, Bitcoin has still soldiered on and remains the iconic representative of cryptocurrencies,"Around May 2024 will usher in the fourth halving of bitcoin, in accordance with the usual practice will be accompanied by a wave of halving market, even if the mining halving now has less and less impact on the overall market circulation as Rich Dad Poor Dad author Robert Ching tweeted on October 7.
"Why buy gold, silver, bitcoin? Bank of England pivot means buying more GSBC. when pensions almost collapsed, it exposed the inability of central banks to fix ...... inflation. Pension funds have always invested in G&S. Pension funds are now investing in Bitcoin. They know fake dollars, stocks and bonds are toast."