Crypto News
Bitcoin Now Up Over 110% This Year In Anticipation of Spot ETF Approval And Halving
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Bitcoin has risen over 110% in 2023 at the time of writing, where the price of the asset started the year off at $16,677 on January 1, has now pumped to above $35,000 only 10 months later. With more room to run this year as hype builds in the market around the potential approval of a spot Bitcoin ETF by the SEC and the upcoming halving event, many are now questioning if this is the end of this cycle’s eventful bear market.
Since the few disastrous incidents that happened in the bear market causing the price drop, things are now looking more optimistic. As some of the worlds largest asset managers, including Fidelity, VanEck and WisdomTree, have filed in hopes to be the first in the United States to get approval for a spot Bitcoin ETF. One name in particular though is making more headlines than the rest, and that is the worlds largest asset manger BlackRock, who manages about $10 trillion.
BlackRock CEO Larry Fink recently made an appearance on Fox Business stating that their clients around the world are interested in getting exposure to Bitcoin, saying the recent price rally has been a “flight to quality.” Earlier this month, Bloomberg ETF analysts Eric Balchunas and James Seyffart raised their approval odds for a spot Bitcoin ETF by the SEC to 90% by January 10, 2024.
The next Bitcoin having is expected to take place in roughly 180 days in late April, 2024. The event will see the Bitcoin block reward drop from 6.25 BTC per block to only 3.125 BTC. This will be the fourth halving in Bitcoin’s history, with the first happening in November 2012, the second happened in July 2016, and the third happened in May 2020. Historically, a year leading up to and after the halving, the price of BTC goes up substantially.
The price of BTC continues to rise as hype builds for a spot Bitcoin ETF approval and the halving next year.
Crypto News
Michael Saylor: US Government Should Own Majority of Bitcoin in the World
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Michael Saylor, executive chairman of Microstrategy, says the U.S. government should own the majority of bitcoin in the world.
Crypto News
Zimbabwe Injects $50M in Forex Market to Stabilize Currency – News Bytes Bitcoin News
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The RBZ aims to increase foreign currency supply, reduce pressure on banks, and maintain currency stability through this intervention.
Crypto News
Polymarket Bettors Predict 84% Chance of Trump-Harris Debate Before Election
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According to the blockchain-based prediction market Polymarket, there is an 84% likelihood that former President Donald Trump and current Vice President Kamala Harris will debate before the election. Trump has shown hesitation to debate Harris until her official nomination, citing significant confusion within the Democratic party. High Stakes: $142,846 Wager on Trump-Harris Debate Before Election
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