What’s Brewing In Crypto News? This Week: Bitcoin’s Halving Slices Through the Calendar on April 20
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This Week: Bitcoin’s Halving Slices Through the Calendar on April 20
April 18, 2024.
Bitcoin’s much-anticipated halving event is just around the corner, and investors and crypto enthusiasts are in an excited frenzy as the big day on April 20 approaches.
But why is the halving such a big deal?
Roughly once every four years, the halving event slashes the reward for mining new Bitcoins in half. This time, that’s from 6.25 to 3.125 per block. This makes new Bitcoins harder to come by, which, if history means anything, could push their price up, up, up.
In the past, these halving events have been like a launchpad for Bitcoin’s price, rocketing up over 500% as it did in 2020, or – brace yourself – 8,691% in 2012. If things play out like they have before, it’s not out of the question to see Bitcoin reach up to a staggering $450,000 in the next year, according to some analysts.
This year’s halving event is particularly special as it occurs alongside the first Bitcoin ETFs in the U.S. which is attracting more people to Bitcoin than ever before. This surge of interest has pumped up the price even before the halving happens. We saw it in action last week when Bitcoin boomed to over $71K after nesting at $65K just one week before that.
So what does all this mean for the future of Bitcoin?
Well, if we stick to the script of previous halvings and factor in the boost from new investment avenues like the ETFs, we could be looking at a very bullish run. It’s an exciting time for Bitcoin enthusiasts and investors, with lots of positive momentum and potential for significant gains, so stay tuned!
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This Week: Bitcoin’s Price As the Halving Draws Near
April 11, 2024.
Bitcoin climbed back up to $72,212 to start the week, with its price staying largely steadfast since, with a little detour on Tuesday because of the higher-than-expected U.S. CPI announcement.
The original rally on Monday was thanks to a cocktail of anticipation and strategic market plays, all centered around the much-anticipated Bitcoin halving event slated for April 20th, which historically sends Bitcoin’s price on a sharp upward trajectory.
Amidst the excitement, traders are swarming Bitcoin, betting big on its ascent as the crowd warms up to Bitcoin ETFs. Exchange-traded funds (ETFs), by the way, are funds that track the price of Bitcoin, letting people invest without actually owning any coins. These ETFs have been loading up on Bitcoin in the past week, adding over $330 million worth.
Despite the slight setback, experts’ predictions are still holding strong, with some eyeing an $80,000 milestone for Bitcoin in the near future.
And it’s not just talk; there’s real momentum here. The market’s leaning heavily on the buy side with $2.1 billion in buy orders before Monday’s jump, which far exceeds the orders to sell, pointing to a significant leap.
With Bitcoin’s price rally, the excitement isn’t just contained to Bitcoin; it’s sparking interest across the whole crypto market. There’s a palpable sense of optimism, with some predicting the total market cap could soar. As we watch Bitcoin’s price, it’s clear we’re witnessing a pivotal moment that could redefine the essence of digital currency.
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This Week: How You Can Now Monetize Telegram Channels With Crypto
April 4, 2024.
Over the weekend, the messaging app Telegram took a bold step into the future of digital content monetization by unveiling a groundbreaking feature: users can now purchase in-app advertisements using Toncoin, the native cryptocurrency of the TON blockchain.
This innovative move transforms Telegram into a marketplace for creators, similar to giants like YouTube and TikTok, but with a unique twist that weaves in cryptocurrency into the app’s economy.
This is how it works.
Content creators use Toncoin to buy advertisements and promote their channels on Telegram. For those with a following of at least 1,000 subscribers, Telegram rolls out the red carpet with a generous 50% revenue share to display these ads on their channels. This windfall can be reinvested into more advertisements or withdrawn as cash, without any fees, via the Telegram-affiliated Fragment Exchange.
The Toncoin blockchain, the powerhouse behind this feature, is known for its low transaction fees and lightning-fast processing speeds. It made headlines last November by achieving a breathtaking 100,000 transactions per second, dwarfing Bitcoin’s seven transactions per second and showcasing its technical prowess.
While a monetized ad platform isn’t brand new for Telegram, up until now, it was a relatively untapped resource, and only a few select channels took advantage of it.
That’s about to change, as on Sunday, a record 156,000 TON wallets were activated after Telegram gave the go-ahead, more than doubling the previous record. That means the rate of content creators leveraging the platform’s latest offer is on the verge of a supersonic boom.
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This Week: London Stock Exchange to Launch Bitcoin and Ether Trading
May 27, 2024.
In a statement released on Monday, the London Stock Exchange (LSE) announced plans to launch a new trading market for Bitcoin and Ether through exchange-traded notes (ETNs) starting May 28, 2024.
These ETNs are like a mix between stocks and cryptocurrencies, allowing people to invest in Bitcoin and Ether without directly buying them.
When someone buys an ETN, they’re getting a “promise” from the company selling it that they will get paid based on how well Bitcoin or Ether does. If Bitcoin goes up by 10% by the time the ETN is supposed to pay out, then the person gets a 10% profit.
From April 8, 2024, LSE will start accepting applications from companies looking to offer these ETNs. This step is part of a larger effort to make the UK a more appealing place for crypto investments, especially with the recent thumbs-up from regulators.
The timing of the announcement is spot-on, considering Bitcoin’s price has been on the rise, fueled by significant investments and the anticipation of a Bitcoin “halving” event that’s fast approaching.
With Bitcoin’s price hitting impressive strides lately, launching ETNs is a big deal for LSE. It’s a clear sign that cryptocurrencies are becoming more mainstream in the financial world.
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This Week: World’s Largest Pension Fund Looks to Bitcoin
March 21, 2024.
Big news broke this week that Japan’s Government Pension Investment Fund (GPIF) – the world’s largest pension fund – is now considering investing in Bitcoin.
While it’s still in the research phase and not a firm decision just yet, the potential shift is a result of Bitcion’s steady bull market trend since the start of the year. It’s now easier than ever to get into the cryptocurrency game, and Japan joins a growing list of countries that are dipping their toes in.
The GPIF, in simple terms, is a government retirement fund. Most of Japan’s workers chip into this giant pool of money throughout their careers. The pool currently holds over $1.4 trillion in traditional assets like your standard stocks and bonds.
But now, thanks to Bitcoin’s new boom, the GPIF may cast its net wider to include the world’s leading crypto token in the fund.
The news is surprising to some since typically, pension funds are wary of Bitcoin’s price fluctuations. However, the tide is slowly turning as other countries are making similar moves. Here in the US, Houston has a Bitcoin pension fund for its firefighters.
Whether Bitcoin becomes part of Japan’s retirement plan, or for that matter, the rest of the world’s, remains to be seen. But we know one thing: the future of cryptocurrency and its role in traditional financial institutions is a story that’s turning another page.
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