Bitcoin price demonstrated a sharp drop on Friday after the central bank of China warned users of the threats associated with the investment in digital currency.
Bitcoin price surged to $67,000 during Asian trading hours, following the approval of spot Bitcoin ETFs in Hong Kong. However, this euphoria was short-lived as rising US Treasury yields impacted market sentiment, pushing BTC back to $62,500.
Mow’s optimistic view of Bitcoin’s future is based on several factors that are synchronizing with the cryptocurrency industry.
It is expected that the demand for Bitcoin will rise in ways that have never been seen in its entire history.
JAN3 founder Samson Mow has said that companies that issue spot Bitcoin ETFs should provide on-chain addresses to prove their Bitcoin reserves.
At a recent Bitcoin conference, ex-CSO Blockstream Samson Mow brought on representatives from three regions to discuss Bitcoin adoption.
Buterin said that there are no technical flaws that would make Ethereum 2.0 be abandoned, stating that the project shall be completed.
The Blockstream Satellite 2.0 allows users to easily sync an entire node without connecting to the web. Besides, it will also facilitate internet-free BTC transactions and information sharing among crypto users across the globe.
Bitcoin’s PoW miners continue to dominate the cryptocurrency mining industry both in terms of total revenue and total security spending. Bitcoin miners received $5.5bn in total block rewards, $5.2bn (94.8%) of which were newly minted coins, and $284m (5.2%) of which were transaction fees.
The next Bitcoin halving is expected to happen in a little bit more than a week. Meanwhile, the BTC hash rate hit a new record moving above 140 EH/s.
Ethereum is giving indications of price adjustment, following the ongoing decrease in the ETH/USD pair towards the $115.00 support level.