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Bitcoin: What You Need to Know Before the Market Rises

Mon 27 Nov 2023 ▪ 3 min of reading ▪ by Evans S.
Getting informed Event

In the crypto sphere, Bitcoin remains the lighthouse, guiding ships through the unpredictable waves of the market. This narrative, like an epic journey, reveals the roller coaster of Bitcoin, offering crucial lessons before the anticipated ascent. 

Bitcoin Market

A Timeline of Breakthroughs and Resilience

In May 2020, Bitcoin’s halving, an event that cuts the mining reward in half, marked a new era. Like a seed planted, this event laid the groundwork for explosive growth. 

Michael Saylor and Tesla, with their bold investments in 2020 and 2021, validated bitcoin as a viable corporate asset, propelling the price to over $60,000. 

But, as in any good story, drama was never far away. China’s mining ban seemed to be a deathblow, but bitcoin, resilient, found new homes. 

In a spectacular turnaround, El Salvador adopted Bitcoin as legal tender, writing an unprecedented chapter in global monetary history.

The crashes of Luna and Celsius in 2022, followed by the FTX scandal, shook the market. Yet, Bitcoin’s resilience remained unshaken. 

Regulatory victories and adoption by giants like BlackRock and Greyscale have paved the way for increased recognition. In November 2023, Bitcoin, at $38,000, displays an impressive 128% growth over the year.

Understanding the Forces at Play

The crypto market is a chessboard where every move has global repercussions. Fear, uncertainty, and doubt (FUD), often spread by financial elites, have played a significant role in price volatility. However, these tactics have only strengthened the conviction of Bitcoin’s ardent supporters.

The decisions of major corporations and regulatory entities have been significant catalysts. The recognition of Bitcoin by institutions such as BlackRock and regulatory support have provided indispensable legitimacy, thereby attracting more investors.

The technological evolution of blockchain and legal battles won against the SEC show that Bitcoin is not just a currency, but a constantly evolving movement. Legal victories and technological advancements open new doors for the future.

Prospects and Potential Futures for Bitcoin

The regulation of Binance and the adoption of Bitcoin by countries like Argentina underscore a future where Bitcoin harmonizes with traditional financial systems. This could mean increased stability and wider adoption.

Challenges, such as volatility and regulation, remain. However, they are offset by immense opportunities in areas like decentralized finance (DeFi) and Web3. The crypto market is an ocean of possibilities, with Bitcoin as the compass. Investors must keep an eye on macroeconomic trends, while staying true to their long-term strategy despite the $60 billion drop.

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Evans S. avatar
Evans S.

Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.