Get Smarter About Crypto

₿itcoin reached $65,439. -1.13%

♢Ethereum reached $3,460. -1.58%

What we will talk about today...

🚀 Bitcoin ETF Concerns Raised

📈 Robert Kiyosaki’s Bitcoin Investment Advice

⛏️ Bitcoin Miners Nearing February Earnings as Difficulty Adjustments Approach

Bitcoin ETF Concerns Raised by Peter Schiff Crypto Community Advocates for Self-Custody

Economist Peter Schiff, known for his support of gold, has voiced concerns about owning Bitcoin ETFs, sparking a wider conversation about self-custody in the crypto world.

⚠️ Schiff’s Bitcoin ETF Warning

Schiff highlighted a potential issue with Bitcoin ETFs: limited liquidity during U.S. trading hours. He warned of the risk of not being able to sell during an overnight market crash.

💡 Bloomberg ETF Analyst’s View

James Seyffart, a Bloomberg ETF analyst, pointed out that the liquidity concern raised by Schiff is not unique to Bitcoin ETFs. He mentioned that gold ETFs and other commodity ETFs, as well as international equity ETFs and stocks, face similar issues.

🛡️ The Value of Self-Custody

In reaction to Schiff’s warning, many in the Bitcoin community stressed the importance of self-custody and owning BTC directly. Simon Dixon, CEO of Bank To The Future, highlighted the simplicity of owning actual Bitcoin compared to physical gold without a custodian. Bryce Clark, an entrepreneur, echoed this view, encouraging people to manage their own crypto assets instead of depending on third parties.

🔒 Benefits of Self-Custody and Digital Assets

Dave Weisberger, among others, underscored the advantages of digital asset markets, such as 24/7 trading, support for multiple currencies, and immediate settlement. He sees the shift towards digital assets as inevitable due to their superior features compared to traditional assets.

The debate sparked by Schiff’s warning emphasizes the ongoing discussion in the crypto community about the importance of self-sovereignty and the benefits of digital assets in the fast-changing financial landscape. 🌐💰

Robert Kiyosaki’s Bitcoin Investment Advice

“Rich Dad Poor Dad” author Robert Kiyosaki encourages investors to buy as much Bitcoin as they can afford. He suggests this in light of the current global economy and advises shifting investments from traditional assets like stocks and bonds.

💡 Kiyosaki’s Perspective

Kiyosaki points to China’s economic issues and a global decrease in consumer spending as signs of the current financial environment. He recommends investing in tangible assets such as gold, silver, and especially Bitcoin, instead of stocks and bonds.

₿ Kiyosaki’s Support for Bitcoin

Kiyosaki has long promoted Bitcoin as a worthwhile investment, calling it a “real asset” compared to “fake money” fiat currencies. He appreciates Bitcoin’s limited supply, with a maximum of 21 million coins.

🚀 Future Predictions

While Kiyosaki has concerns about a potential crash in the gold market, he remains positive about the future of silver and Bitcoin. He predicts substantial growth in these assets, suggesting Bitcoin could exceed $100,000 by June this year. He has even predicted Bitcoin could reach up to $300,000.

🌟 Kiyosaki’s Investment Approach

Kiyosaki stresses the importance of diversifying investments into tangible assets like precious metals and digital currencies. He advocates buying Bitcoin along with gold and silver to hedge against economic instability and aim for long-term financial growth.

Kiyosaki’s endorsement of Bitcoin highlights the growing acceptance of cryptocurrencies as valid investments and their role in a diverse investment portfolio. 🚀💰

Bitcoin Miners Nearing February Earnings as Difficulty Adjustments Approach

Bitcoin miners are close to surpassing their February earnings as the network prepares for two difficulty adjustments before the expected halving event. With less than 4,300 blocks left until the halving, miners are watching network changes, encouraged by the recent increase in total hash rate.

📉 Hashrate Increase and Expected Difficulty Changes

Since February 28, 2024, Bitcoin has stayed above the $60,000 level, pushing the overall hash price over $95 per Peta hash per second (PH/s). Predictions indicate that the next difficulty adjustment, expected around March 28, 2024, might decrease due to recent block intervals being longer than the average ten minutes.

Recent data shows a possible difficulty decrease between 0.13% to 2.1%. This adjustment could benefit miners after a 5.79% increase in the last adjustment, improving profitability during market fluctuations.

📊 Mining Performance and Earnings Forecast

As of March 21, 2024, the hash price is about $104.79, with the total hash rate reaching 610 exa hash per second (EH/s). In the past week, miners have mined 981 blocks, contributing to a total of 4,390 blocks mined in the last 30 days.

This month, Foundry USA and Antpool have led the mining efforts, mining 275 and 222 blocks, respectively. With just ten days left in March, miners have earned $1.33 billion in combined block rewards and fees, nearing February’s total earnings of $1.39 billion.

💰 Subsidy-to-Fee Ratio and Transaction Trends

The subsidy-to-fee ratio for March is similar to February’s, with a small decrease in daily fee contributions balanced by an increase in total fees over the past 90 days. Despite processing fewer transactions per day compared to three months ago, miners continue to secure the Bitcoin network, with 137,000 transactions waiting for confirmation.

Bitcoin miners stay alert as they navigate changing market conditions, using technological advancements to maximize profitability and maintain the network’s strength during upcoming difficulty adjustments. 🚀🔒

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎