1. World Project Achieves 10 Million Human Verifications Milestone

Sam Altman’s World project (formerly Worldcoin) has announced reaching 10 million human verifications. The project is now operational in over 160 countries and regions, with the World App surpassing 20 million downloads.

2. Bitcoin Price Movement Could Trigger Major Liquidations

According to Coinglass data, if Bitcoin falls below $90,000, cumulative long position liquidations on major exchanges could reach $629 million. Conversely, if BTC breaks above $96,000, short position liquidations could amount to $471 million. The liquidation chart indicates the potential market reaction intensity at specific price points.

3. CryptoQuant CEO: Quantum Computers Cannot Break Bitcoin’s Value

Ki Young Ju, CEO of CryptoQuant, stated on X platform that quantum computers pose no significant threat to Bitcoin. He explained that Bitcoin’s value relies on community consensus, and even if hacked, attackers would likely conceal it to avoid crashing Bitcoin’s value.

4. Grayscale Research Head Maintains “Structurally Bullish” BTC Outlook

Grayscale’s Head of Research Zach Pandl maintains a “structurally bullish” outlook on Bitcoin despite temporary headwinds from dollar strength and Fed policy. He suggests current market pressure may be temporary, particularly with the approaching U.S. presidential inauguration.

5. Tether Expands into AI Film Production

USDT stablecoin issuer Tether is recruiting AI filmmakers as part of its broader brand awareness strategy. CEO Paolo Ardoino says this initiative reflects the company’s commitment to innovation and operational efficiency.

NOON NEWS

1. USDC Circulation Increases by 1 Billion in Seven Days

Official data shows Circle issued approximately 3.7 billion USDC and redeemed 2.7 billion USDC in the week ending January 9, resulting in a net increase of 1 billion. Total USDC circulation stands at 45.3 billion, with reserves at approximately $45.5 billion.

2. Meta Receives Bitcoin Investment Proposal

Following Microsoft and Amazon, Meta has received a Bitcoin investment proposal. The National Center for Public Policy Research suggests Meta convert part of its $72 billion cash reserves into Bitcoin as an inflation hedge.

3. Pump.fun Trading Analysis: Only 0.408% Users Profit Above $10,000

Dune data reveals that only about 55,296 addresses (0.408%) out of over 13.5 million Pump.fun wallet addresses have achieved profits exceeding $10,000.

4. CoinShares: Bitcoin Bill Impact to Exceed ETF Launch

CoinShares believes establishing a U.S. Bitcoin reserve bank would accelerate Bitcoin adoption more than ETF launches. The proposed bill would direct the U.S. Treasury to purchase 1 million BTC over five years for a “strategic Bitcoin reserve.”

5. Industry Expert: U.S. Government Bitcoin Sale Requires Strict Procedures

Aidan Larkin from Asset Reality explains that the sale of $6.5 billion worth of government-held Bitcoin must follow strict legal procedures and is unlikely to be incorporated into a Bitcoin strategic reserve.

EVENING NEWS

1. Three Major Institutions Accumulate $100 Billion in Bitcoin

Arkham Intelligence data shows BlackRock, MicroStrategy, and Fidelity have collectively purchased approximately $100 billion worth of Bitcoin, with BlackRock holding $50 billion, MicroStrategy $24 billion, and Fidelity $20 billion.

2. El Salvador Tourism Grows Due to Bitcoin Adoption

Santander Bank reports El Salvador’s foreign tourist arrivals increased 22% in 2024 to 3.9 million visitors, largely attributed to the country’s adoption of Bitcoin as legal tender attracting crypto enthusiasts.

3. Usual Protocol to Activate Revenue Switch Early

Following USD0++ de-pegging, Usual Protocol announces early activation of its revenue switch feature on January 13, projecting monthly revenues of $5 million with over 50% annual returns to stabilize its ecosystem.

4. Base Chain Gas Consumption Exceeds 25,000 ETH

Dune Analytics reports Base chain’s total gas consumption has reached 26,779.4438 ETH, with average gas fees at $0.0566, and total transactions exceeding 1.5 billion.

5. DWF Labs Participates in Power Tokenization

DWF Labs co-founder announces participation in a 150 MhW power tokenization transaction, stating the company aims to create a global framework and market for tokenized energy.

〈CoinRank Crypto Digest: January 11, 2025〉這篇文章最早發佈於《CoinRank》。

〈CoinRank Crypto Digest: January 07, 2025〉這篇文章最早發佈於《CoinRank》。

Leading digital asset manager Grayscale Investments introduces two new cryptocurrency trusts, focusing on Sui’s SUI token and Bittensor’s TAO, expanding opportunities for accredited investors in the evolving blockchain and AI sectors.

Grayscale Investments, a prominent digital asset management firm, has announced the addition of two new cryptocurrency investment trusts to its product lineup. The Grayscale Sui Trust and Grayscale Bittensor Trust, launched on Wednesday, offer accredited investors exposure to the SUI and TAO tokens, respectively.

The Grayscale Sui Trust focuses solely on the SUI token, the native cryptocurrency of the Sui protocol, a next-generation smart contract platform. Meanwhile, the Grayscale Bittensor Trust invests in TAO, the native token of Bittensor, a decentralized artificial intelligence network.

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, expressed enthusiasm about the new offerings, stating, “We believe Bittensor is at the forefront of decentralized AI growth, while Sui is revolutionizing smart contract blockchains. These trusts continue our commitment to providing investors with access to tokens driving the crypto ecosystem’s evolution.”

These latest additions follow Grayscale’s May 23 launch of trusts investing in Near (NEAR) and Stacks (STX), further diversifying the firm’s crypto investment options. The company’s expanding portfolio also includes trusts related to well-established cryptocurrencies such as Solana, Litecoin, Stellar, and Chainlink.

Grayscale’s new trusts cater to both institutional and accredited retail investors, offering daily subscription opportunities. This move reflects the growing interest in emerging blockchain technologies and decentralized AI projects within the cryptocurrency space.

As the digital asset landscape continues to evolve, Grayscale’s latest offerings demonstrate the company’s commitment to providing investors with diverse exposure to the cryptocurrency market’s most innovative projects.

>> Also read: Sui Mainnet to Integrate Mysticeti Consensus Algorithm for Enhanced Efficiency

〈Grayscale Expands Crypto Portfolio with New SUI and TAO Investment Trusts〉這篇文章最早發佈於《CoinRank》。

The cryptocurrency investment firm’s $9 billion head start in Ethereum is under threat as major financial players launch their own spot ether ETFs, potentially repeating the company’s struggles in the Bitcoin ETF space.

Grayscale, a pioneer in cryptocurrency investment products, finds itself in a familiar position as the U.S. Securities and Exchange Commission (SEC) approves the first spot ether exchange-traded funds (ETFs). The firm, which has spent years building a trust holding over $9 billion worth of ether, now faces intense competition from financial heavyweights entering the market.

>> Also read:

• Spot Ethereum ETFs Debut with Over $1 Billion in First-Day Trading Volume
• Spot ETH ETFs: The Ultimate Investor’s Guide for the 2024 Launch
• Market Analysis: Ethereum ETF Launch and Trading Strategy for Potential Downside Risk

On Tuesday, several spot ether ETFs began trading in the United States, allowing investors to gain exposure to Ethereum’s native cryptocurrency through traditional stock market mechanisms. This development mirrors the January launch of spot bitcoin ETFs, which saw Grayscale struggle to maintain its market share.

Grayscale, a unit of Barry Silbert’s Digital Currency Group, has converted its existing Ethereum trust into an ETF (ETHE) and launched a new, lower-cost product called the Grayscale Ethereum Mini Trust (ETH). However, the company’s high fees for ETHE – 2.5%, significantly higher than competitors – may prove challenging in attracting and retaining investors.

In their first day of trading, the new spot ether ETFs collectively saw over $1 billion in volume, with JPMorgan analysts estimating net sales of $104 million. Meanwhile, Grayscale’s ETHE experienced redemptions of $485 million, likely due to investors switching to cheaper alternatives or capitalizing on increased liquidity.

This scenario echoes Grayscale’s experience in the bitcoin ETF market. Since converting its bitcoin trust to an ETF in January, the company has seen outflows of nearly $18.7 billion, largely attributed to its comparatively high management fee of 1.5%. In May, BlackRock’s iShares bitcoin ETF, with a fee of 0.25%, overtook Grayscale in assets under management.

Grayscale’s new leadership, including CEO Peter Mintzberg and interim CEO Edward McGee, face the challenge of navigating this competitive landscape. The firm is emphasizing its track record, with David LaValle, Grayscale’s global head of ETFs, highlighting ETHE’s 61% annual return since becoming publicly quoted in June 2019.

Despite these challenges, Grayscale is benefiting from the overall crypto market rebound. Bitcoin has quadrupled in price since late 2022, with GBTC performing even better. Ethereum has nearly tripled during the same period. The company reports growing client demand alongside the maturation of the crypto asset class.

As the ether ETF market develops, investors will be closely watching how Grayscale adapts to maintain its position in an increasingly crowded and competitive field.

〈Grayscale’s $9B Ethereum Edge Tested as ETFs Flood Market〉這篇文章最早發佈於《CoinRank》。

In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.

SEC Approves Ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has approved the listing of Grayscale and ProShares spot Ethereum ETFs on NYSE Arca. These ETFs represent a significant step towards mainstream adoption and integration of cryptocurrencies in traditional finance. The final S-1 approvals are pending before trading begins.

Grayscale’s Decentralized AI Fund

Grayscale has announced the launch of a pioneering fund dedicated to decentralized AI within the crypto space. This fund aims to support blockchain-based AI projects, driving innovation in decentralized finance and other sectors. It underscores Grayscale’s commitment to exploring cutting-edge investment opportunities.

WazirX Exchange Hack

WazirX, a prominent cryptocurrency exchange, has reported a security breach resulting in a loss of $235 million. The incident highlights ongoing security vulnerabilities in the crypto market. WazirX is currently investigating the hack and collaborating with authorities to recover the stolen assets.

Greek Government’s Crypto Taxation Plans

The Greek government plans to implement cryptocurrency taxation by 2025. This move aims to integrate crypto assets into the national tax system, ensuring fair taxation of crypto transactions. The legislation is part of a broader effort to modernize Greece’s financial infrastructure and comply with EU directives.

〈Crypto Pre-drink: July 18, 2024〉這篇文章最早發佈於《CoinRank》。

In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.

BLACKROCK’S $20 BILLION ETF NOW LARGEST BITCOIN FUND

BlackRock’s iShares Bitcoin Trust has become the world’s largest Bitcoin fund, accumulating nearly $20 billion in total assets since its debut in the U.S. earlier this year. As of Tuesday, the exchange-traded fund (ETF) held $19.68 billion in Bitcoin, surpassing Grayscale’s Bitcoin Trust, which held $19.65 billion, and making it larger than the third-place Fidelity Investments fund, which holds $11 billion.

Since its launch, the iShares Bitcoin Trust has attracted the most capital inflow, totaling $16.5 billion, while investors have withdrawn $17.7 billion from the Grayscale fund during the same period. Higher fees and arbitrageurs exiting are considered likely drivers of the capital outflow from the latter.

GRAYSCALE POLL: HALF OF U.S. VOTERS EYE CRYPTO INVESTMENTS

According to Grayscale’s latest poll, approximately 47% of U.S. voters expect to include cryptocurrencies in their investment portfolios, highlighting the importance of cryptocurrencies in the upcoming November elections. About 32% of voters expressed a greater interest in understanding cryptocurrencies as an investment option.

CRYPTO TRADING INSIGHT

ETH: Ethereum’s potential for a direct price increase is slightly higher than Bitcoin’s, as the market generally anticipates Ethereum to mirror Bitcoin’s trends, including a direct 20% pullback upon official trading. However, market trends often defy the majority’s expectations, which could lead to an unexpected rise in Ethereum’s price. 

These are merely predictions, and in the spirit of long-term investment, the focus is on buying rather than selling, allowing for acceptance of any short-term market declines. The ultimate goal is to capitalize substantially at the market’s peak.

SOL: Solana is showing signs of weakness, now trading within a volatile range. The recent uptrend has been on diminishing volume, with prices nearing key resistance levels at $210 and the previous bull market high of $260. 

These resistance levels pose significant challenges, and the current market activity suggests that major players might be distributing their holdings, potentially leading to a prolonged period of price consolidation and correction. The recent hype around NFTs has boosted SOL’s price, which may decrease as the hype diminishes.

〈Crypto Pre-drink: May 30, 2024〉這篇文章最早發佈於《CoinRank》。

In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.

BITCOIN ETFS SURPASS 1 MILLION BTC GLOBALLY

According to data from Bold.report, global holdings in Bitcoin Exchange Traded Funds (ETFs) have surpassed the milestone of 1 million BTC as of March 12. These ETFs are distributed across various countries including the United States, Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia.

In the United States, the Grayscale GBTC leads with approximately 292,000 BTC, followed by BlackRock IBIT with about 280,000 BTC, and Fidelity FBTC holding 162,000 BTC. Collectively, these major players hold around 734,000 BTC. According to Farside, total net inflows into U.S. Bitcoin ETFs have now reached $13.7 billion.

BLACKROCK AND GRAYSCALE’S BTC HOLDINGS NEAR EQUAL

The gap in Bitcoin holdings between BlackRock and Grayscale has further narrowed to less than 2000 BTC. As of May 24, Grayscale’s Bitcoin ETF GBTC held 289,040.5264 BTC (valued at approximately $20,002,254,770.20), while BlackRock held 287,167.7407 BTC (valued at approximately $19,794,802,610.26). The difference between them now stands at only 1,872.7857 BTC, with the market value gap shrinking to around $200 million.

ANALYST PREDICTS CONTINUED BULL MARKET FOR BITCOIN

Cryptoquant analyst CryptoDan stated that the cryptocurrency market is still in a bull market, with Bitcoin prices not yet peaking and expected to rise further. During previous bull markets, the MVRV peak values were 4.83 and 3.97, but currently, it is only 2.78, not yet in an overvalued zone, suggesting further increases are likely.

After entering an overheated phase in March 2024, Bitcoin experienced a two-month period of lateral movement and adjustment, and it is likely to see further rises early in June.

BNB NEARS BREAKTHROUGH AMID BULLISH TRENDS

BNB, as the platform coin of Binance, shined in the last bull market and has shown smaller declines during the bear market, indicating high value. BNB rose from $200 to over $600 in a healthy, steady rise until it began fluctuating at the peak of the last bull market.

The overall trend for BNB remains bullish, which could lead to a background increase. As the price is now near historical highs, and after several tests of upper resistance levels without breaking through, a pullback might be expected.

Although entering long positions at this level might have missed the optimal timing, mid to long-term trading on major exchange platform coins can yield good results, provided the entry timing is right.

〈Crypto Pre-drink: May 29, 2024〉這篇文章最早發佈於《CoinRank》。

Discover the factors behind Bitcoin’s surge past $70,000, including ETH ETF anticipation, stabilizing inflation expectations, Grayscale inflows, and institutional adoption of BlackRock’s Bitcoin ETF.

After a general downturn in the crypto market since April, Bitcoin has finally surpassed the $70,000 threshold on May 21st. Here are four key factors, as identified by CoinRank, contributing to this upward price movement.

Bitcoin’s highest and lowest prices from January to April 2024:

1. POTENTIAL APPROVAL OF ETHEREUM ETFS

The anticipation surrounding the approval of spot Ethereum ETFs in the United States has been a major catalyst for the recent rally in cryptocurrency prices. Analyst Eric Balchunas from Bloomberg has significantly increased the likelihood of these ETFs being approved from 25% to 75%, indicating a strong optimism in the market.

 Additionally, sources have reported that the U.S. Securities and Exchange Commission (SEC) has requested that exchanges expedite the update of critical documents for these ETF applications, suggesting possible approval as soon as this week.

This has led to a direct increase in Ethereum prices, which has had a cascading effect on Bitcoin due to the interlinked nature of these two major cryptocurrencies.

>>> Read More:

Hong Kong Green-Lights BTC and ETH Spot ETFs: Will They Be the Industry Game-Changer?

What Is Ethereum & How Does It Work?

2. STABILIZING U.S. INFLATION EXPECTATIONS

In addition to the anticipation surrounding Ethereum ETFs, the stabilizing U.S. inflation expectations have also played a role in Bitcoin’s surge.

 Loretta Mester, President of the Cleveland Federal Reserve, has indicated that the previously anticipated three rate cuts this year may no longer be appropriate, suggesting a shift towards a potential rate hike if necessary.

However, the Fed remains cautious, with Vice Chair Jefferson noting that it is too early to declare that the slowdown in inflation will persist. This cautious optimism has helped temper fears of runaway inflation, making assets like Bitcoin, often seen as a hedge against inflation, more attractive to investors.

>>> Read More:

Bitcoin vs Gold Amidst War- Is Bitcoin a Risk Asset or a Safe Haven Asset?

3. SIGNIFICANT INFLOWS INTO GRAYSCALE BITCOIN TRUST

Grayscale Bitcoin Trust, a major player in the cryptocurrency investment space, has seen substantial inflows, with $239 million worth of Bitcoin flowing into spot Bitcoin ETFs on May 16 alone. This includes significant contributions from other funds like BlackRock’s IBIT and Fidelity’s FBTC.

The continuous inflow, including $5 million into Grayscale on the same day, underscores the increasing trust and investment from institutional investors, reflecting a bullish sentiment in the market.

>>> Read More:

Grayscale’s GBTC: The Potential Spot Bitcoin ETF – Pros, Cons, and What to Watch Next

4. RAPID INSTITUTIONAL ADOPTION OF BLACKROCK’S BITCOIN ETF

The introduction of BlackRock’s Ishares Bitcoin Trust (IBIT) has marked a significant milestone in Bitcoin’s mainstream acceptance among institutional investors. In less than three months, the ETF has attracted 414 institutional holders, a record-setting pace for new ETFs, and a testament to its robust demand and confidence among the financial community.

This overwhelming response, particularly when compared to other recently launched ETFs, underscores a broadening base of institutional support for Bitcoin. Such a rapid accumulation of institutional interest not only enhances Bitcoin’s market stability but also contributes significantly to its price strength.

>>> Also Read:

3 Major Implications and Legal Issues Following SEC Approval of Bitcoin ETFs in the U.S.

What is Bitcoin: A Comprehensive Overview

A Ten-Year Review of Bitcoin’s Performance: Why Has Bitcoin Surged Over 10,000%?

〈4 Key Factors Why Bitcoin Crosses $70K Again After Halving 2024〉這篇文章最早發佈於《CoinRank》。

In the Crypto Pre-drink, we serve up a daily shot of the hottest crypto news and market insights to fuel your investment decisions.

BLACKROCK CHALLENGES GRAYSCALE FOR BITCOIN FUND SUPREMACY

According to the Financial Times, BlackRock is close to overtaking Grayscale as the world’s largest Bitcoin fund. Since its inception four months ago, BlackRock’s spot Bitcoin exchange-traded fund (ETF) has garnered $16.7 billion in assets, nearly reaching Grayscale’s lead, which stands at $28 billion over a decade. Rob Goldstein, COO of BlackRock, described their approach to entering the Bitcoin market as a meticulously planned, multi-year journey to integrate institutional quality into the ecosystem. Current data shows Grayscale’s Bitcoin Trust at approximately 289,348.7762 BTC as of May 13th, while BlackRock held about 274,755.1419 BTC as of May 10th, a difference of 14,593.6343 BTC.

GRAYSCALE’S BITCOIN HOLDINGS EXPERIENCE A DECLINE

The latest updates from Grayscale reveal that as of May 13th, the holdings in its Bitcoin Trust (GBTC) decreased, falling below the 290,000 BTC threshold to 289,348.7762 BTC.

CRYPTO TRADING INSIGHT

Bitcoin: The Bitcoin market remains volatile, hovering around the 61,800 level. After a consistent downward trend, the price dipped to a low of 61,100. The current market movement indicates weak momentum, operating near the lower boundaries of the Bollinger Bands with a bearish KDJ indicator crossover. With significant market movements expected, all eyes are on the upcoming release of the U.S. CPI data at 8:30 a.m. EDT, which could sway market dynamics based on its outcome.

Ethereum: Ethereum faces a critical juncture as it approaches key support levels. With repeated resistance at higher trendlines and lack of significant market support, Ethereum’s position is increasingly precarious. A break below this level without substantial backing could signal further declines, emphasizing the volatility and risk inherent in the market.

〈Crypto Pre-drink: May 15, 2024〉這篇文章最早發佈於《CoinRank》。

On April 18, 2024, Google Trends data showed that search interest for “Bitcoin halving” reached an all-time high. Nigeria, the Netherlands, Switzerland, and Cyprus showed the most interest in the Bitcoin halving.

With less than one day left until the halving, what do well-known institutions, users, and KOL think about it?

WHAT DO THE EXPERTS THINK ?

• Coinbase – No.1 Crypto Exchange in the United States

According to the Coinbase x Glassnode Q2 report, the market dynamics of Bitcoin have matured, reducing the impact of new Bitcoins on market prices, primarily driven by increased institutional demand and the adoption of Bitcoin ETFs. While miners add about 900 Bitcoins daily, Bitcoin ETFs often purchase more, significantly influencing supply and market liquidity. ETFs also trigger substantial capital flows that affect market volatility, impacting price stability and market sentiment independently of traditional supply-demand constraints.

The report highlights that spot Bitcoin ETFs are among the fastest-growing ETFs. A small allocation to cryptocurrencies significantly enhances risk-adjusted returns. From April 2019 to March 2024, adding just 3% in cryptocurrencies raised the traditional 60/40 portfolio return from 33.3% to 52.9%, and 5% to 67.0%.

• Binance – The world’s largest exchange by trading volume

Binance recently outlined the following predictions in a report:

1. Bitcoin Halving: Intended to regulate the supply of new BTC tokens, historically affecting supply dynamics, market sentiment, and adoption.

2. Increased Awareness: Halvings tend to increase Bitcoin’s visibility, leading to rises in price and adoption rates. They also spark discussions related to blockchain technology, Bitcoin network dynamics, and cryptocurrency as a unique asset class.

3. Historical Patterns: Although historical patterns show a price increase and expanded adoption in the months following a halving event, it’s important to note that the upcoming April 2024 halving has already proven to be unprecedented in several key aspects.

Read more about Bitcoin halving : 

• Bitcoin Halving 2024 Introduction – How Can We Profit from It?

• Bitcoin Halving 2024: Will It Be Different From the Previous Three?

Binance Research:

According to Binance’s latest study, investor interest in cryptocurrencies has been growing ahead of the global Bitcoin halving event. A survey of over 2000 Australian cryptocurrency investors found that more than 80% of respondents view the upcoming halving positively for the industry, with over half expecting a direct price increase of Bitcoin.

Ben Rose, General Manager of Binance Australia and New Zealand, noted that the halving has had a positive impact on BTC trading, with nearly 80% of Binance Australia users planning to increase their BTC holdings in the near future.

• Grayscale – Holds BTC assets (GBTC) valued at over $19.1 billion

According to an analysis report by asset management firm Grayscale, fundamental changes in the supply and demand balance of Bitcoin could have a significant impact on cryptocurrency prices, especially with the upcoming halving event.

Historically, halving events have typically led to cycles of price increases. However, a new factor, namely ETFs, is also expected to influence Bitcoin’s performance in the April halving this year. The report notes, “In addition to the overall positive on-chain fundamentals, the market structure of Bitcoin post-halving is conducive to price increases.”

Grayscale’s report points out that the current block reward is 6.25 Bitcoins, which at a price of $43,000 amounts to about $14 billion annually. In other words, to maintain the current price, there needs to be a buy pressure equivalent to $14 billion during the same period. “After the halving, this demand will halve: the block reward will drop to 3.125 Bitcoins, reducing to $7 billion annually, effectively alleviating selling pressure.”

Post-halving, each block’s mining reward will decrease to 3.125 Bitcoins, and to cope with cost pressures, miners typically sell more of their Bitcoin reserves, thus increasing supply and lowering prices.

Grayscale notes that the recent launch of nine Bitcoin spot ETF products on Wall Street could “act as a counterbalance to miner selling pressure.” The report states, “Bitcoin ETFs could significantly absorb selling pressure, potentially reshaping the market structure of Bitcoin by providing a stable new source of demand, which is beneficial for prices.”

• Goldman Sachs – Global leading financial giant

Investment banking giant Goldman Sachs has cautioned its clients in a report not to overinterpret Bitcoin’s historical halving cycles. The report states, “Historically, the previous three halvings have been accompanied by a rise in Bitcoin prices, although the time taken to reach historical highs has varied significantly. Given the current macroeconomic environments, caution should be exercised when extrapolating from past cycles and assessing the impact of halving.”

• Bitwise – BITB ( Bitcoin ETF )

Bitwise Asset Management notes that historically, BTC prices have often underperformed in the month following a halving. In an article dated April 16, Bitwise observed that while the price movements of BTC were modest in the month following the previous three halvings, they saw triple-digit gains in the subsequent year.

For instance, in the month following the 2012 halving, BTC rose by 9%, but surged 8,839% over the next year. A similar pattern occurred in 2016: BTC fell 10% one month post-halving, but soared 285% in 2017, reaching a peak of $20,000. Similarly, in the month after the 2020 halving, BTC increased by 6%, and then rose 548% in the following year. Bitwise writes, “The data is limited but reveals an interesting pattern: market prices tend to underestimate the long-term impact of halvings.”

• J.P. Morgan – World’s largest banking institution

In a research report on Tuesday, JPMorgan stated that the recent weakness in mining stocks presents an attractive entry point for investors ahead of Bitcoin’s halving.

The report highlighted that Bitcoin has risen 43% year-to-date and 130% over the last six months, as “part of the typical post-halving rally appears to have been pulled forward.” Bitcoin’s quadrennial reward halving, which is expected to occur around April 19-20, will slow the rate of Bitcoin supply growth.

The bank is particularly bullish on overrated stocks like Riot Platforms (RIOT) and Iris Energy (IREN), citing their attractive relative valuations. The analysts wrote, “As the Bitcoin halving approaches, we anticipate increased volatility and trading volume in both Bitcoin and mining stocks.”

• Bernstein – Wall Street investment institutions

Analysts at the research and brokerage firm Bernstein predict that Bitcoin will resume its bullish trajectory after the halving and have reiterated their target of reaching $150,000 by the end of 2025.

In a report to clients on Wednesday, Gautam Chhugani and Mahika Sapra wrote, “We expect Bitcoin’s bullish trajectory to resume after the halving, as mining power adjusts and ETF inflows are restored. Additionally, we believe the integration of spot Bitcoin ETH with exchanges and continued support from RIAs will provide structural demand for Bitcoin. We still anticipate Bitcoin reaching the cyclical high of $150,000 by 2025.”

CONCLUSION

The investment market remains unstable with mixed signals on the immediate effects of the upcoming Bitcoin halving. While the long-term outlook appears bullish, investors are advised to consider the increased volatility and to diversify their strategies to mitigate risks associated with the current macroeconomic environment and the nascent nature of cryptocurrency regulations.

Looking for the latest scoop and cool insights from CoinRank? Hit up our Twitter and stay in the loop with all our fresh stories!

〈Less than 1 Day to Bitcoin Halving: What Do the Experts Think?〉這篇文章最早發佈於《CoinRank》。