Approval of the Spot Bitcoin ETF, halving of BTC mining rewards, and important regulatory and enforcement actions. It will have a profound psychological impact on market prices.
Here are the key takeaways from the Next Block Expo in Berlin. Just as Bitcoin surged past $42,000 for the first time in a year.
Robby Yung, CEO of Animoca Brands, Miko Matsumura, Managing Partner of Gumi Cryptos Capital, Jonas Jünger, Regional Manager at Binance, and João Leite, Head of Business Development, Polkastarter, spoke about the current cryptocurrency bear market coming to an end.
Bitcoin Halving is a psychological phenomenon.
Jonas Jünger has highlighted a deflationary mechanism of the Bitcoin protocol that has never been discussed in fiat currencies.
“It was a unique concept for everything. which every time it happens It will be a celebration that we are doing something completely different here.”
Yung also provided an interesting perspective, noting that while Animoca Brands only has two projects working directly in the Bitcoin ecosystem out of approximately 500 investments, the dominant blockchain remains. “Having a huge impact” on what they do
The Animoca CEO said the impact will be similar to other businesses where interest rates, employment numbers, and other key macroeconomic signals have an impact, even if they don’t directly affect you.
“For us, I think of Bitcoin as our central bank. For this reason, I think of Ethereum as our investment bank.”
Bitcoin ETF
Pending Approval of Several Bitcoin ETFs in the United States It is often cited as a key driver of BTC’s recent appreciation.
“Potential revenue from Bitcoin ETFs is estimated to be $10 to $12 billion.”
And for exchanges like Binance, sudden price spikes are another important consideration that can be used to test the systems of global providers.
“These types of events are critical to operations. Because it is a matter of success or failure in terms of managing the exchange’s critical infrastructure.”
An approach that requires more caution
“During a bull market Many companies tend to spend more than necessary. Because they are not building a treasury which is very important.”
“We still advise them to ignore everyone’s excitement. You have to be mindful of the long term. And make sure you have a runway for a few years,” Leite offers perspective.
refer : cointelegraph.com