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The Bitcoin Community Newsletter
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Delivers key updates and insights to keep you connected to the Bitcoin community. #Freedom
Did Strong Bitcoin ETF Demand Kill Halving's Potential Bullish Rally? - Bitcoin's upcoming halving might not have as much of an impact on the price of bitcoin as seen in previous cycles. - This is because the spot bitcoin exchange-traded funds (ETFs) have already pushed bitcoin to new highs as pressure on supply strengthened. - Nevertheless, the long-term effects on both the price of bitcoin and subsequently flows into the ETFs will be positive. https://www.coindesk.com/resizer/EgFd2NqwgC7-bcEaZcrrTw5-3vg=/2112x1188/filters:quality(80):format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/E6DTAWVKQBCNHGWCUPR66POFTI
The bitcoin halving is expected in the next week. Here are 6 ways it will impact BTC mining: 1. Bitcoin’s hashrate will not drop by that much 2. High-cost miners will be forced to upgrade fleets 3. Miners will find creative ways to increase profits 4. Some miners will diversify away from mining 5. Bitcoin mining will become more geographically decentralized 6. Little impact on the bitcoin price image
According to sources:Hong Kong is poised to potentially introduce spot Bitcoin exchange-traded funds (ETFs) as early as this month, with the first set of approvals expected to be announced in the coming week. Hong Kong Expected To Approve First Spot Bitcoin ETFs in April? According to Who? Have Hong Kong received approval from the Beijing government? https://theedgemalaysia.com/_next/image?url=https%3A%2F%2Fassets.theedgemarkets.com%2FHong%20Kong%20bitcoin_20240301155902_bloomberg_1.jpg&w=1080&q=75
The significant Bitcoin purchase comes after Coinbase declared that the majority of the proceeds from the GBTC sell-off would “remain within the crypto ecosystem.” image