Is Bitcoin’s four-year cycle really over?
MetaMask launches new feature for betting on politics and sports!
Tom Lee’s Bitmine targeted by short-sellers!
Kazakhstan seizes $16.7 million from an unauthorized crypto exchange!
And with gold prices reaching an all-time high of $4,035, is Bitcoin’s next surge imminent?
Let’s analyze the news on the global economy and cryptocurrencies and consider economic trends together! Thursday, October 9th, we’ll be discussing today’s cryptocurrency news and on-chain market conditions.
This program brings you the latest news to help you with your asset building. Let’s start by looking at 24-hour data headlines from the cryptocurrency market.
The first topic is the bold assertion that “Bitcoin’s four-year cycle is dead.” Bitcoin previously experienced an event known as the “halving” approximately every four years, which created a cycle of price increases. However, former BitMEX co-founder Arthur Hayes says that this traditional four-year cycle no longer works.
According to Hayes, while in the past, significant price increases were observed after halvings, recent changes in the market environment and participant demographics have disrupted this pattern. In other words, the situation is complex and cannot be explained by simple periodicity alone. This is an important signal for investors, and it may prompt them to reconsider their market strategies.
There are three key factors behind this change.
First, the Bitcoin market has become more mature, and prices are now driven by a variety of factors.
Second, external factors such as stricter regulations and geopolitical risks are becoming more influential.
Third, the market structure itself is changing with the emergence of new investment products and the entry of institutional investors.
These factors combine to make the “four-year cycle myth” a thing of the past. In fact, market participants are saying that “we can no longer expect the same old patterns.”
Next, MetaMask partnered with Polymarket to launch a new service that allows users to bet on political and sporting events. This is a decentralized prediction market that utilizes blockchain technology and is characterized by transparency and fairness.
This move represents a strategy by MetaMask, a known cryptocurrency wallet, to expand into the DeFi (decentralized finance) space while providing a new user experience. Betting on political events and sporting outcomes has long been popular, but conducting it on the blockchain offers many benefits, including reduced fraud risk and instant settlement.
Investors and users are excited about this new way to enjoy the service and its potential to increase market participation. However, regulatory challenges remain, and how they will be addressed will be of great interest.
The third issue is the targeting of Bitmine Immersion, led by Tom Lee, by short-seller Kerrisdale Capital. Kerrisdale Capital has expressed concerns about Bitmine’s financial status and the feasibility of its business plan.
Short-sellers are groups of investors who seek to profit from falling stock prices, and such criticism has a significant impact on market sentiment. Bitmine has responded, but the battle is likely to continue.
These developments, coupled with increased regulation and transparency demands for cryptocurrency-related companies, have ripple effects across the market. Investors will likely need to carefully gather information and make informed decisions.
Next, we will report on the Kazakhstan government’s tough measures against unauthorized cryptocurrency exchanges. Authorities shut down more than 130 unauthorized platforms and seized approximately $16.7 million. The crackdown was aimed at preventing illegal transactions and maintaining financial order.
Kazakhstan has been attracting attention in recent years as a cryptocurrency mining powerhouse, but it has also been moving toward stricter regulations. This incident symbolizes the international trend toward increased scrutiny of the cryptocurrency industry.
Market participants have commented, “This is a boon for legitimate businesses, but tough times for opaque exchanges.”
Finally, we have the news that gold prices hit an all-time high of $4,035 per ounce. This surge is believed to be the result of increased demand for gold as a safe-haven asset due to global economic uncertainty and inflation concerns. However, this trend could also have an impact on Bitcoin.
In the past, gold and Bitcoin prices have moved in tandem, leading some experts to believe that a rise in gold prices signals Bitcoin’s next all-time high. However, the two have different characteristics, so this is difficult to generalize about.
There are multiple factors behind this, including global monetary policy and geopolitical risks, so market participants are paying close attention from a wide range of perspectives.
That concludes today’s news highlights. Our channel provides in-depth, specialized features focused on valuable news in the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow.
