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TF firms are buying Bitcoin from miners through OTC deals. There aren’t as many circulating bitcoins on the market as people are buying each day. The live market is unaffected by OTC trades.</p><p id="8d60">If Bitcoin continues to repeat the pump-and-dump cycle every four years, where will the bottom of the forthcoming bear market be? Please share your thoughts on this by commenting in the comment box. The next bear cycle, in my opinion, might reach a low of $40,000 or so.</p><figure id="37af"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*081Ete29kBsiJ-3q"><figcaption>Photo by <a href="https://unsplash.com/@scottsdalemint?utm_source=medium&amp;utm_medium=referral">Scottsdale Mint</a> on <a href="https://unsplash.com?utm_source=medium&amp;utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="785c">WAY TO LEGEND</h2><p id="e4ac">Looking at the grip of investors on Bitcoin, I believe that in the coming 5 years, Bitcoin can be seen challenging Gold as a global asset.

JP Morgan released a report on this issue. They believe Bitcoin cannot be used to replace gold in an investor’s portfolio. JP Morgan clearly says the market capitalization of Bitcoin cannot exceed gold. The reason behind this is the risk of price volatility in Bitcoin is three times higher than gold. At the moment, every organization is participating by keeping in mind the risk of volatility.</p><h2 id="04d3">Black Rock</h2><p id="2432">In the United States, only BlackRock investors are allowed to acquire Bitcoin spot ETFs. To remove this limitation, they have prepared the Global Allocation Fund. BlackRock has asked the American government to provide clearance for the Global Allocation Fund. If their filing is approved, they will enable BlackRock investors worldwide to invest in the Bitcoin Spot ETF.</p><p id="6fa2">This is good news for the cryptocurrency market since it will help in attracting new investors. Tether has printed one billion additional USDT — this is also good news.</p><figure id="f732"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*kgHK7o5ERxmCWu-s"><figcaption>Photo by <a href="https://unsplash.com/@siderius_creativ?utm_source=medium&amp;utm_medium=referral">Gerard Siderius</a> on <a href="https://unsplash.com?utm_source=medium&amp;utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="7acc">AI tokens</h2><p id="c1bc">The market cap of AI Tokens tokens has reached $26 billion. From last week till now, a growth of 36% has been seen in their market cap. Does the utility of AI tokens justify such a market?</p><p id="82b1">The hype of AI is widespread all over the world. Everyone is noticing AI tokens but it is very important to see the utility rate. The technology behind AI tokens is being built and even if there is demand for them, it would be wise to stay in them for a long time.</p><h2 id="e31e">Conflux Network</h2><p id="be91">Conflux has launched its own stablecoin. This stablecoin is quite interesting because it is backed by the Hong Kong dollar rather than the US dollar. This stablecoin coin is going by the name AxHKD. This is positive news for Conflux token ho

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lders.</p><p id="bb23" type="7">Clap — Share — Comment — Happily ☺</p><p id="0d89">To show me your support and encourage me please Follow me<a href="https://readmedium.com/75396687c564"> Jessica Doosan</a></p><h2 id="0ec5">Disclaimer</h2><p id="0024">The information in this article is meant only for educational purposes. I am not a Financial Advisor and this article is not financial or investment advice. I am not affiliated with any of the websites, coins, or projects mentioned in this article.</p><h2 id="b3c2">↑ ↓ Brain Booster …</h2><div id="c557" class="link-block"> <a href="https://readmedium.com/shiba-holders-be-aware-analyzing-factors-risks-and-potential-for-long-term-hold-8902b10d2ceb"> <div> <div> <h2>Will Shiba Inu Coin Hit 0.0001 in 2024?</h2> <div><h3>Hits | Possibility | Reputable| Nowday | Whales | Hold? | Sell? | Target?</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*W_msT3VF9nIFOBUX7p_rKg.jpeg)"></div> </div> </div> </a> </div><div id="a8ea" class="link-block"> <a href="https://readmedium.com/5-coins-potencial-to-rise-in-march-2024-6770f47ad85f"> <div> <div> <h2>5 Coins Potential to Rise in March 2024</h2> <div><h3>Excitement | Opportunity | Organize | Charts | Growth | Development</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*YW37o1GoWRwl-avy)"></div> </div> </div> </a> </div><div id="844c" class="link-block"> <a href="https://readmedium.com/how-do-we-prepare-for-the-bitcoin-cycle-2024-602c62c3403a"> <div> <div> <h2>How do We Prepare For the Bitcoin Cycle of 2024</h2> <div><h3>Market Cycle | Before Halving | Key Points | Mindset</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*bCVxX8-s0_T2Aq03kc-dBQ.png)"></div> </div> </div> </a> </div><div id="f1f0" class="link-block"> <a href="https://readmedium.com/nvidias-unforgettable-journey-from-bankruptcy-to-1-trillion-market-cap-3454818440f5"> <div> <div> <h2>Nvidia’s Unforgettable Journey From Bankruptcy to 1 Trillion Market Cap</h2> <div><h3>Dinosure | 1997 | Dotcom bubble | TSMC | Power of GPU</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*HUK397ACh-WFIdlhv1vWFg.png)"></div> </div> </div> </a> </div></article></body>

Market Movers ($70k): Whales, ETF Firms, and the Future of Bitcoin Vs Gold?

BlackRock | Holder | Legend | Avoid AI tokens | Conflux

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Many changes are being seen in the crypto market which you need to be aware of. In this regard, we will discuss the activities of Bitcoin miners, ETFs, and projects.

Big Whales have already acquired 1% of the total supply of Bitcoin. ETF firms hold 4.03% of Bitcoin’s supply. This percentage of holdings will rise over time as these companies seek to take control of Bitcoin from people and keep it with them. If power remains in the hands of firms, we may see less decentralization in the future. Only contracts for the purchase and sale of ETFs are provided by these companies.

Who has been selling Bitcoin for so long, due to which we are continuously seeing massive selling at high peaks?

BTC holder

  • 0–1 BTC — 1654 SELL
  • 1 -10 BTC — 2394 SELL
  • 10 -100 BTC- 8148 BUY

According to the above estimated statistic we can say that small Bitcoin holders are selling BTC, while whales are grabbing BTC from the market.

Miners are the most crucial members of the Bitcoin ecosystem. How much do you think Bitcoin miners are earning at this time? At the present BTC price, Bitcoin miners are profiting handsomely. Because of the buzz around Bitcoin, more miners are joining, and Hashrate has reached an all-time high. The more Hashrate increases, the less profit miners will make.

Photo by Ignacio Fernández Álvarez on Unsplash

Example

There are 1000 members in the first lucky draw and 100,000 members in the second lucky draw. It is visible that in the First Luckydraw, there is a higher chance of winning in comparison to the second; lucky draw because participants are fewer in the first lucky draw. Bitcoin rewards miners similarly to a lucky draw, and Hashrate represents the number of members. The higher the Hashrate, the more work miners must put into mining a block of BTC.

Despite this, all of the miners are making good money right now. There are two reasons for this: one, the price of Bitcoin is at an all-time high, and second, transaction costs have risen owing to congestion.

Using the Bitcoin network for transactions incurs a cost of roughly $4–5, and the transaction takes 24 to 48 hours to complete. To speed up this transaction, a fee of $25 to $27 will be charged.

The selling pressure on miners appears to be at an all-time high at the moment. I believe those ETF firms are buying Bitcoin from miners through OTC deals. There aren’t as many circulating bitcoins on the market as people are buying each day. The live market is unaffected by OTC trades.

If Bitcoin continues to repeat the pump-and-dump cycle every four years, where will the bottom of the forthcoming bear market be? Please share your thoughts on this by commenting in the comment box. The next bear cycle, in my opinion, might reach a low of $40,000 or so.

Photo by Scottsdale Mint on Unsplash

WAY TO LEGEND

Looking at the grip of investors on Bitcoin, I believe that in the coming 5 years, Bitcoin can be seen challenging Gold as a global asset. JP Morgan released a report on this issue. They believe Bitcoin cannot be used to replace gold in an investor’s portfolio. JP Morgan clearly says the market capitalization of Bitcoin cannot exceed gold. The reason behind this is the risk of price volatility in Bitcoin is three times higher than gold. At the moment, every organization is participating by keeping in mind the risk of volatility.

Black Rock

In the United States, only BlackRock investors are allowed to acquire Bitcoin spot ETFs. To remove this limitation, they have prepared the Global Allocation Fund. BlackRock has asked the American government to provide clearance for the Global Allocation Fund. If their filing is approved, they will enable BlackRock investors worldwide to invest in the Bitcoin Spot ETF.

This is good news for the cryptocurrency market since it will help in attracting new investors. Tether has printed one billion additional USDT — this is also good news.

Photo by Gerard Siderius on Unsplash

AI tokens

The market cap of AI Tokens tokens has reached $26 billion. From last week till now, a growth of 36% has been seen in their market cap. Does the utility of AI tokens justify such a market?

The hype of AI is widespread all over the world. Everyone is noticing AI tokens but it is very important to see the utility rate. The technology behind AI tokens is being built and even if there is demand for them, it would be wise to stay in them for a long time.

Conflux Network

Conflux has launched its own stablecoin. This stablecoin is quite interesting because it is backed by the Hong Kong dollar rather than the US dollar. This stablecoin coin is going by the name AxHKD. This is positive news for Conflux token holders.

Clap — Share — Comment — Happily ☺

To show me your support and encourage me please Follow me Jessica Doosan

Disclaimer

The information in this article is meant only for educational purposes. I am not a Financial Advisor and this article is not financial or investment advice. I am not affiliated with any of the websites, coins, or projects mentioned in this article.

↑ ↓ Brain Booster …

Bitcoin
Cryptocurrency
Ethereum
Blockchain
Business
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