The psychological impact of Bitcoin halving
The approval of Bitcoin exchange-traded funds (ETFs), the upcoming Bitcoin mining reward halving, and regulatory actions are all contributing to the surge in Bitcoin prices, according to industry experts at the Next Block Expo conference in Berlin. The four-year cycle of Bitcoin halving is likened to a medieval battering ram, where each halving inclines people to invest more in Bitcoin. Additionally, experts highlight that the actual economic effect of each halving is getting smaller.
Bitcoin ETFs and consumer protection
The pending approval of spot Bitcoin ETFs in the US is considered a major driver of Bitcoin's recent price appreciation. The estimated potential income from Bitcoin ETFs is around $10 to $12 billion, which has sparked interest from investors. Experts also note that the provision of a spot Bitcoin ETF will fundamentally change consumer protection, as it provides a secure and regulated investment vehicle, unlike synthetic financial instruments.
A cautious approach
Despite the optimism surrounding the cryptocurrency market, experts advise caution. Start-ups are urged to build a treasury and maintain a long-term strategy, even during times of market excitement. This cautious approach is important to ensure sustainability and resilience in the face of market fluctuations. Furthermore, the recent enforcement action against Binance and its subsequent settlement with the US justice department is seen as a positive development for the industry, providing reassurance about the future operations of the largest exchange by transaction volume.
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