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By Mike Romanenko
Over the past few years, the value of BTC has multiplied many times over, breaking and surpassing its previous all-time highs. This remarkable upward trajectory has propelled Bitcoin into mainstream consciousness, with its acceptance as a legitimate store of value and investment vehicle. As BTC continues its unprecedented rally closer to the Halving, Kyrrex's perspective serves as a guiding compass, providing investors and enthusiasts with a glimpse into the future of this dynamic and rapidly evolving market. In this article, Mike Romanenko, co-founder of the international fintech ecosystem and Kyrrex cryptocurrency, shares his visionary insights on the dependence of cryptocurrencies on regulations.
The growth of Bitcoin perfectly reflects the dependence of cryptocurrencies on regulation. BTC's new record highly revolves around two main factors:
1) a potential interest rate cut from the US Federal Reserve;
2) Bitcoin halving, which is planned in the near future. These aspects have given a double impetus to the growth of the leading cryptocurrency in the market and have also drawn renewed attention to the investments of experienced crypto community members.
Note that the US Securities and Exchange Commission approved exchange-traded funds investing in Bitcoin in early 2024. This immediately set a positive momentum, as ETFs helped attract investments from people without interaction with cryptocurrencies. Before that, the risks of storage and mistrust of crypto exchanges, most of which are unlicensed and unregulated, scared away this category of investors. It is essential to understand that the investment cost threshold when buying ETF assets is much lower than buying bitcoin itself.
We can also mention the plans to launch an ETF for ETH. This proves that cryptocurrencies are ready to be accepted as part of the country's economy. Such processes create an extremely favorable background for investments in other projects based on blockchain technology.
In the near future, we will see high volatility in Bitcoin until its price stabilizes and the market determines its fair value. Therefore, it is necessary to be careful in short-term trading. However, as a long-term investment, Bitcoin is still an attractive tool.
The next big step in this direction will be approving the MiCa laws regulating cryptocurrencies in Europe. Therefore, in the summer, we can expect much more potentially pleasant news, which will probably set the pace of market growth until the beginning of 2025. During this period, the final processes for MiCa integration should occur.
Author Bio
CVO, Co-Founder of https://kyrrex.com/
Mike, who has more than a decade of experience in investment and financial regulation, is a co-founder of Kyrrex. Besides, Mike holds key roles at Unicorn Factory Ventures and Vireye Game Studios, championing web3 and gaming innovations. Often featured in podcasts and panels, he's a recognized authority in the crypto domain.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.