As the ‘halving’ event nears, Bitcoin price predictions become increasingly significant, with the current value at $66,125 hinting at future trends.
The market’s technical indicators suggest a decisive phase ahead, with potential shifts in investor sentiment and market dynamics poised to influence Bitcoin’s trajectory.
El Salvador Unveils Open-Source Bitcoin Diploma to Boost Global Financial Literacy and Adoption
El Salvador’s “Mi Primer Bitcoin” initiative has launched a new Bitcoin Diploma program aimed at enhancing global financial literacy through open-source Bitcoin education.
Developed with the help of international Bitcoin experts, the curriculum is freely available on GitHub, covering essential Bitcoin topics.
Since Aug we donated $1/bag sold jerky to @bitcoinbaytpa It has been a pleasure giving back.
Halfinning Month we are spreading the love to a @pod256 initiative https://t.co/7vZmO6Rpo3 A Free Open Source Bitcoin Mining, Energy, & Education Initiative.https://t.co/Wt4eX31gR4 pic.twitter.com/2OYTzGHZbr
— Barnminer (@btctwatterpants) April 1, 2024
This initiative aims to empower individuals by increasing their financial literacy in the digital age, fostering creativity and innovation.
Key Points:
- El Salvador’s open-source Bitcoin curriculum aims to boost global financial literacy.
- The program is free and accessible on GitHub, promoting wider Bitcoin adoption and understanding.
- Enhanced Bitcoin knowledge could lead to increased demand and recognition of the cryptocurrency.
Upbit Trading Volume Dips After Record High
Upbit, a leading South Korean crypto exchange, experienced a significant drop in its 24-hour trading volume from $15 billion in March to $3.8 billion in early April.
This decline followed a record high in March, coinciding with Bitcoin’s peak and substantial investments in new U.S. spot Bitcoin ETFs.
The volume further decreased to $2.6 billion by the end of March. Factors like market trends and the “Kimchi Premium,” which affects Bitcoin prices in South Korea differently from international rates, may have contributed to this fluctuation.
Despite this, Upbit’s expansion efforts continue, as evidenced by obtaining a Major Payment Institution license in Singapore.
Key Points:
- Upbit’s trading volume plummeted from March’s high to $3.8 billion in April.
- Market fluctuations and the “Kimchi Premium” influenced the trading dynamics.
- Upbit’s ongoing expansion, including a new license in Singapore, highlights its growth efforts.
Bitcoin Miners’ Earnings Soar to $2 Billion Pre-Halving, Signaling Robust Market Activity
In March, Bitcoin miners earned a record $2.01 billion, the highest in the network’s history, including $85.81 million from transaction fees.
This surge in earnings comes as the Bitcoin network’s hash rate reached an average of 606 exahash per second, with the hash price consistently above $100.
Foundry USA led in block mining, contributing to nearly 30% of the network’s total, followed by Antpool, Viabtc, F2pool, and Binance Pool.
This financial uptick signals robust miner activity and potential optimism for Bitcoin’s future, especially with the approaching halving event that could enhance BTC’s value due to increased scarcity.
Key Points:
- Record $2.01 billion earnings for Bitcoin miners in March, signaling strong network activity.
- Significant hash rate and hash price indicate profitable mining conditions.
- The upcoming halving event may positively impact Bitcoin’s value and miner engagement.
Bitkub Plans $165 Million IPO in 2025, Boosting Thailand’s Crypto Market
Bitkub Capital Group, owner of Thailand’s Bitkub Online cryptocurrency exchange, plans a 2025 IPO, targeting a $165 million valuation. CEO Jirayut Srupsrisopa is preparing by hiring financial advisors and aiming to go public, amid growing competition, notably from Binance Thailand.
Despite generating 80% of its parent company’s revenue, Bitkub Online faces regulatory challenges, including a thwarted acquisition by Siam Commercial Bank and trade volume manipulation allegations.
This move reflects growing investor interest in cryptocurrencies, potentially boosting Bitcoin’s acceptance and market legitimacy.
Key Points:
- Bitkub Capital targets a $165 million IPO in 2025 for its exchange, Bitkub Online.
- Facing competition and regulatory challenges, yet remains a significant revenue generator.
- IPO signals rising investor interest in the cryptocurrency market.
The owner of Thai crypto exchange Bitkub Online reportedly plans an initial share offering in 2025 that will value the exchange at about 6 billion baht ($165 million). @sheldonreback reports. https://t.co/AEea2mJOr3
— CoinDesk (@CoinDesk) April 1, 2024
Bitcoin Price Prediction
The Relative Strength Index (RSI) stands at 38, indicating potential underpricing, while the 50-day Exponential Moving Average (EMA) at $68,407 hints at a bearish sentiment.
The overall trend appears bearish below the pivot of $66,524. However, surpassing this level could pivot towards a bullish outlook, highlighting the market’s fluctuating dynamics.
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