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Happy Monday Folks! Bitcoin is trading up at $68,221 which is up from $67,817 yesterday but down from $72,001 a week ago. But no worries because it appears it's ready to rally once again.
CURRENT NEWS
Today, we have less than 5000 blocks left before the Bitcoin mining reward gets reduced by 50%; or cut in half aka "the halving." Historically, every Bitcoin halving — a disinflationary mechanism inscribed in the currency’s code by Satoshi Nakamoto — has come a year or two before a new all-time high; this time is different.
The Fed will announce this week if they will cut rates or leave them on hold; this will impact the price of $BTC. Other than that, not much is going on. I've noticed that the majority of Crypto news is focused on the price of the asset and rarely is there news about the developments around the actual technology. I will work in the coming weeks to reshape these briefs to contain more than just price hype and speculation because if you truly understand the asset I believe more would understand what they have. For example, how do you HODL Bitcoin? Some believe you should never put your Bitcoin other than in a hardware wallet (not your keys, not your coins) but are there some situations where it makes sense to HODL your Bitcoin in an ROTH IRA?
Solana has dethroned Ethereum with $3.6B in onchain volume.(2)
MID-DAY
Digital asset inflows skyrockets to $2.9B YTD.(3) Pete Rizzo analyzes why Hal Finney is not the real Satoshi Nakamoto and didn't create Bitcoin. Adam Back wants Roger Ver to come back to Bitcoin. Fidelity has updated it's application to add $ETH staking.(2) Carson Group and Grant Engelbart say advisors allocate an average of 3.5% of Bitcoin ETFs to client portfolios.
Bitcoin & Politics
Arkansas Representative French Hill, who chairs the United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, reportedly plans to take over leadership of the full committee following Patrick McHenry’s departure.
WATCH
LISTEN
Podcasts of the Day: Layer-2s are trying to transform Bitcoin's culture | The Scoop
TIME MACHINE
A month ago, Bitcoin struggled a bit but I believe it found it's footing and is pushing higher once again. Edward Snowden calls Bitcoin the "most significant monetary advance since the creation of coinage."(3)
Few weeks ago, we continued to hear a lot about the emails from Satoshi and getting a better sense of what he thought as he created Bitcoin. The news continued to be focused on the hack of MicroStrategy's X account which lead to $440K in Crypto being stolen.(6) Meanwhile they slam the buy button once again to the tune of $155M!(6)
Couple of weeks ago, a lot of voices continues to be wildly bullish on Bitcoin's forecast and most believed its headed toward all-time high before the halving. We have a powerful week of economic reports this week which should bring crazy volatility to the market.
Last week, Bitcoin flips silver(2) as it breaks above $71K on the verge of pushing toward $100K by halving day (April 15th) as $100B is added.(10) However, Coinbase believes the market could face some short-term headwinds. UK's FCA opens the door for institutional investors to build Crypto-backed ETN market and London stock exchange to accept Bitcoin/Ethereum ETNs;(4) Mudrex offer U.S. Bitcoin ETFs to Indian investors. Bill Ackman was pondering if he should buy Bitcoin since it appears to be going on forever; he's probably buying right now.(4)
Over the weekend, Analyst were concerned about the recent pullback and indicating where the bottom support would be.
