Bitcoin experiences a heavy fall…📉
Welcome to the Daily Tribune on Thursday, January 4, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, January 4, 2024, and like every day from Tuesday to Saturday, we summarize the news of the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Stormy ⛈️
24-hour crypto summary ! ⏱️
📉 Bitcoin in free fall: End of the Bull Run or just a correction? 🤔
Bitcoin has recently experienced a drastic fall, losing nearly half a billion dollars in value. This decline has raised questions about the potential end of the bull run or if it's just a temporary correction. Historically, Bitcoin has experienced similar drops and has often rebounded. Experts point out that market movements are complex and Bitcoin's volatility is not new. Corrections of 20% or more have been common in its history.
Influential voices in the market see this fall as a natural adjustment. Markets never go up in a straight line, and corrections are necessary to maintain a healthy balance. The Bitcoin ETF, although highly anticipated, is just one piece of the crypto puzzle. Massive liquidations, while alarming, reflect the speculative and reactive nature of the market. Predicting the future of Bitcoin remains precarious, but some see it as a necessary pause before a new ascent.
The recent Bitcoin fall reveals the market's vulnerability to rumors, particularly regarding regulatory decisions such as those concerning Bitcoin ETFs by the SEC. This sensitivity to speculation leads to increased volatility, highlighting the market's fragility, which often reacts abruptly to unconfirmed information.
🚀 Bitcoin ETF Approval: Crypto market in turmoil! 🔥
The anticipation of potential approval of a Bitcoin ETF has created a tense atmosphere in the crypto community. The price of Bitcoin had increased by over 5% in 24 hours, surpassing $45,000 before experiencing a heavy fall due to certain rumors. Analysts predict various post-approval scenarios, and futures premiums on CME indicate a crowded market. Three months of continuous bullish momentum highlight the anticipation of Bitcoin ETF approvals, but signs of froth in the market suggest a possible compression to come.
Open interest has increased by over 50,000 BTC in three months, demonstrating anticipation of spot Bitcoin ETF approvals. Funding rates on offshore exchanges have reached peaks, and short sellers hesitate to enter the market before the verdict on the Bitcoin ETF. Analyst Lunde predicts a rise in prices before the verdict and is optimistic in the long term, believing that the net inflow of fresh money through potential ETFs could catalyze a new bullish momentum.
The anticipation of a Bitcoin ETF approval has created a boiling atmosphere in the market, with a significant increase in the price of Bitcoin. However, signs of froth and high futures premiums suggest a possible overheating of the market. The increase in open interest and high funding rates indicate strong anticipation but also a risk of post-approval correction. The long-term impact will depend on the net inflow of fresh money and the market's reaction to the approval or rejection of the ETF.
🤖 AI Cryptos defy gravity with 540% gains! 🚀
AI-related cryptocurrencies have experienced a meteoric rise, with a 540% increase in less than a year. Their total market capitalization has gone from $1.1 billion to $7 billion. Cryptos like The Graph (GRT) and Fetch (FET) have seen significant increases, although some have experienced declines. The enthusiasm for AI and blockchain is evident, with investors rushing into these high-tech cryptos.
AI and blockchain have strong synergies and pave the way for many innovative use cases. AI can optimize and secure blockchains, while blockchain provides a decentralized infrastructure for AI. Many cryptocurrencies are emerging to realize this technological marriage, with the ambition of offering alternatives to the GAFAM in the AI field. The rapid growth of this sector hints at colossal potential for the future.
The meteoric rise of AI-related cryptos reflects the growing enthusiasm for the integration of AI and blockchain. This rapid growth, while promising, raises questions about sustainability and excessive speculation. The potential of AI in optimizing blockchains and creating smart contracts is immense, but the market must be vigilant against possible corrections after such rapid growth. The future of these cryptos will depend on their ability to provide concrete and innovative solutions.
🎉 Bitcoin Genesis Day: 15 Years of resilience and innovation! 🎂
January 3 marks the 15th anniversary of the creation of the first Bitcoin block by Satoshi Nakamoto. This symbolic day celebrates the birth of the first decentralized cryptocurrency. The discreet launch of Bitcoin in 2009 paved the way for the rise of crypto assets. In 15 years, Bitcoin has experienced ups and downs but has demonstrated remarkable resilience, retaining nearly 40% of the crypto market share.
The current challenge for Bitcoin is transitioning from a speculative asset to a daily-used currency. Decisive steps await in 2024, including the potential launch of an ETF in the United States. Despite the challenges, the longevity of Bitcoin commands respect. January 3 remains a key date in the history of cryptocurrencies, and Bitcoin continues to evolve, demonstrating a certain resilience despite crises.
The 15th anniversary of Bitcoin highlights its resilience and ongoing influence. Despite the ups and downs, Bitcoin maintains a significant market share and demonstrates the robustness of its decentralized infrastructure. The current challenge is transitioning from speculation to mass adoption, with decisive steps like the potential launch of an ETF. The longevity of Bitcoin will depend on its evolution in terms of scalability and energy efficiency, as well as acceptance and integration by the general public and institutions.
Crypto of the day: NEAR Protocol (NEAR)
NEAR Protocol is a blockchain platform designed for scalability and ease of use, aiming to facilitate the adoption of decentralized applications. It stands out with its unique consensus mechanism called "Nightshade," which aims to provide fast transactions and reduced fees. NEAR is also known for its commitment to interoperability, allowing developers to create efficient and accessible applications.
The native cryptocurrency of NEAR Protocol, NEAR, is used to pay transaction fees, store data, and act as a governance token for holders. It has been distributed through various mechanisms, including public sales and reward programs. NEAR holders benefit from the ability to participate in network governance, stake their tokens for network security, and earn rewards. NEAR also serves as a bridge between various blockchains, reinforcing its utility in the multi-chain ecosystem.
Recent Performance of NEAR Protocol
Current price: Approximately $3.66 (approximately €3.40)
Percentage increase/decrease: -9.21% (decrease in 1 day)
Market capitalization: Approximately $3,680,141,303 (approximately €3,418,131,151)
Rank on CoinMarketCap: 24
The Bitcoin Genesis Block: Foundation and symbol of a new financial era
Yesterday marked the 15th anniversary of a discreet yet profoundly significant event: the creation of the first block of the Bitcoin blockchain, known as the Genesis block. This moment not only marks the birth of Bitcoin but also the beginning of a new era in financial technology.
The Genesis block, or block number 0, is the foundation of the entire Bitcoin blockchain. It was mined by Satoshi Nakamoto, the enigmatic creator of Bitcoin, and contains the first set of transactions recorded on the network. More than just a technical record, the Genesis block carries an encrypted message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." This message refers to a headline in The Times about the financial crisis of the time, suggesting a critique of the traditional financial system and the need for a more stable and transparent alternative.
The Genesis block is essential not only for technical reasons, as the first block from which all other blocks are sequentially linked, but also as a symbol of the ideology and aspirations that led to the creation of Bitcoin. It represents a departure from the past and the hope for a fairer and decentralized financial system
