Tag Archives: surges

COTI Surges 280% in a Month: What’s Behind the Pump?

COTI Surges 280% in a Month: What’s Behind the Pump?

COTI, the native currency of the COTI Layer 2, experienced a significant surge in February, gaining more than 280%. Over the past week alone, the value of COTI has more than doubled, jumping by around 130% and sitting at around $0.22 on February 29, 2024.

The rally is largely attributed to a series of technological advancements that have attracted investor interest. In this article, we will explore some of the key factors contributing to COTI’s rise.

Key Takeaways

  • COTI has seen a remarkable increase of over 280% in February, with a notable jump of about 130% in the past week alone.
  • The project’s recent developments have contributed to its growing traction.
  • At its core, COTI is designed as a comprehensive privacy-focused fintech platform aiming to revolutionize digital transactions with its decentralized payment network, stablecoins, and a multi-DAG data structure.
  • Analysts remain bullish on COTI’s future, predicting further price increases based on its technological innovations and market position.

What is COTI?

COTI stands for “Currency of the Internet” and is a pioneering fintech platform that seeks to revolutionize digital transactions by offering a decentralized payment network and stablecoins.

It’s built on a multi-DAG (Directed Acyclic Graph) data structure, which enables it to process over 100,000 transactions per second, offering a scalable, fast, and cost-effective alternative to traditional blockchain systems.

The core of COTI’s innovation is its Trustchain algorithm, which operates on a DAG data structure rather than a conventional blockchain. This approach significantly reduces transaction costs and increases processing speed to up to 100,000 transactions per second.

COTI employs a new consensus mechanism called Proof of Trust (PoT), which combines elements of Proof of Work (PoW) and DAG. This mechanism rates users and nodes within the network based on their historical behavior and payment statistics, assigning a Trust Score that influences transaction processing speed and fees.

Moreover, COTI’s MultiDAG 2.0 layer facilitates the creation of enterprise tokens, merchant tokens, and governance tokens, allowing for the issuance of branded stablecoins like Cardano’s Djed and the payment system ADA Pay.

In essence, COTI is intended not to be just a cryptocurrency but a comprehensive financial ecosystem designed to modernize and simplify digital transactions for businesses and consumers.

COTI’s Latest Developments

COTI has been making significant developments in the cryptocurrency space, which has sparked investor interest in the cryptocurrency. Here are some of the more notable developments:

1. Garbled Circuits on Blockchain

COTI has successfully demonstrated the application of Garbled Circuits on the blockchain, a cryptographic technique that allows two parties to jointly evaluate a function over their inputs without a trusted third party.

In a February 2022 Medium post, the project said it has “achieved a revolutionary breakthrough in garbled circuits” that allows the technology to be used on the blockchain for the very first time. This marks a major step towards enhancing privacy and computational efficiency on the blockchain​​.

2. Multi-Party Computation (MPC) Protocol

Earlier this month, COTI announced that it has integrated the advanced Multi-Party Computation (MPC) protocol into its Ethereum-based L2.

This protocol enables computations that require confidentiality, allowing sensitive data to be computed collectively without being shared, which is crucial for privacy concerns or regulatory requirements​​.

 

3. COTI’s $100 Million Development Fund

More recently, the COTI Foundation announced the target use cases and focus areas for its $100 million development fund, all of which will be allocated in COTI tokens.

The fund aims to support projects in various sectors, including decentralized finance (DeFi), data management, artificial intelligence (AI), GameFi, and more. Developers are encouraged to apply for funding through a selection process.

COTI Price Prediction: What to Expect Next?

With its innovative technology and growing ecosystem, COTI has gained traction as a promising blockchain project. This has led to a number of bullish forecasts, with predictions indicating a potential for significant growth.

Discussing the token and its future, Anndy Lian, an intergovernmental blockchain expert, told Techopedia: “Their narrative on “increased privacy on the chain,” announced at the end of 2023, got my attention. They want to launch Ethereum Layer 2 – COTI V2 – in 2024.”

“[COTI V2] will lead to potential use cases to keep transaction history private on DEXes or privacy-preserving dApps for RWA that allow businesses to verify the authenticity and traceability of products without revealing sensitive business relationships or information,” Lian explained.

“Considering the timing of Bitcoin’s recent price hike and halving in April, as well as the upcoming Ethereum Dencun upgrade, there is a good chance to see more price action on COTI.”

Tony Severino, a CMT candidate, technical analyst, and the author of the CoinChartist VIP newsletter, told Techopedia: “The COTI Foundation recently revealed a $100m growth fund targeted at expanding development around DeFi, GameFi, AI, and more.”

Severino added that “coupled with surging demand for crypto assets, the positive fundamental roadmap has led to the strongest weekly buying pressure since 2021 per the Relative Strength Index.”

“After some short-term consolidation, COTI appears poised to make new all-time highs in 2024. Exceeding the current price record puts the 1.618 Fibonacci extension in play, with a target of $4.22 per token.”

In the meantime, for the immediate future, CoinCodex suggests a modest increase in the COTI price, with expectations of it reaching $0.224085 by March 7, 2024, marking a 3.67% gain from its current price.

The broader outlook for 2024 suggests a possible range of $0.177128 to $0.641784, highlighting a significant bullish sentiment with a potential increase of up to 204.97%. Looking further ahead, the prediction for 2030 ranges between $0.410150 and $1.305266.

BeInCrypto predicts a high of over $0.65 by July 22, 2024, with a projected return on investment (ROI) from the current level of 170%.

For 2025, the site foresees a new all-time high of $0.8595, indicating a 258% ROI from current levels. Extending predictions to 2030, it suggests that COTI could trade as high as $1.8450, with projected lows around $1.50.

The Bottom Line

COTI’s surge in February can be attributed to its significant technological advancements and strategic initiatives aimed at enhancing privacy and efficiency on the blockchain.

The successful demonstration of Garbled Circuits, the integration of the MPC protocol, and its $100 million development fund are expected to further strengthen COTI’s position and contribute to its positive price trajectory.

Source: https://www.techopedia.com/coti-crypto-pumps-280-percent-in-february

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

$RNDR Token Surges to a 2-Year High – But Can the Momentum Last?

$RNDR Token Surges to a 2-Year High – But Can the Momentum Last?

Peer-to-peer GPU computing network Render (RNDR) surged to a two-year high on February 23, fueled by optimism about the growing demand for generative artificial intelligence (genAI) and image-rendering services.

Over the last month, Render has gained over 100%, aided by two key developments that were instrumental in helping AI crypto coins like RNDR token outperform the rest of the market — chipmaker Nvidia’s record-breaking quarterly earnings and the launch of OpenAi’s text-to-video AI product Sora.

Are you interested in adding it to your portfolio and looking for an RNDR token price prediction?

In this article, we will analyze the RNDR token price performance and explain why the Render token is going up.

Key Takeaways

  • RNDR token price surged 480% from September 2023 to an over two-year high of $7.96 on February 23.
  • Nvidia’s record-breaking quarterly earnings and the launch of OpenAi’s text-to-video AI product Sora have helped AI cryptos rise.
  • Render’s integration with Apple’s RealityKit 2 has driven demand for its services.
  • RNDR’s 14-day relative strength index (RSI) stood over 87 points, indicating an overbought asset.

What Is Render (RNDR)?

In this section, we summarize the Render Network to help you decipher whether the Render token is a good investment for you.

Render is a decentralized marketplace for GPU computing power. The network provides near real-time computing power for 3D rendering tasks, AI and machine learning (ML) training, and complex computations.

Render was launched in 2009 by Jules Urbach, who is the founder and CEO of a Los Angeles-based cloud graphics company, OTOY. The Render Network team is backed by OTOY.

In October 2017, Render conducted its first token sale of the RNDR token. Render launched its mainnet on Ethereum (ETH) in April 2020.

In November 2023, Render successfully completed its migration from Ethereum to Solana (SOL).

A global investment firm VanEck stated in a report:

“Render, who recently migrated to Solana, was initially focused on connecting artists to decentralized groups that would provide GPU power to render images and videos. However, Render has begun to focus its decentralized GPU fleet on satisfying machine-learning workloads to support deep-learning models.”

How Does Render Work?

Rendering is the process of generating two-dimensional or three-dimensional images using a computer program. It is used to create images, videos, animations, simulations, visual effects, virtual reality, and video games. Rendering requires GPU or CPU computing power to process the images.

The Render Network allows GPU owners to loan out their computing power to creators and developers in need of it. In return, GPU service providers earn RNDR tokens for processing artists’ rendering needs. Creators have the option to pay for their rendering job in fiat or RNDR.

GPU providers need to build their reputation over time to receive higher job volumes by completing tasks in a timely and accurate manner. Render users also have reputation scores that help the network reduce unintentional congestion from failed renders or malicious activity.

Render charges a 5% network fee on all transactions, which is used to cover network operating costs.

Why Is Render Token Going Up?

Render has been on a tearing run since September 2023. RNDR token price has surged 480% from $1.372 on September 1, 2023, to an over two-year high of $7.96 hit on Feb. 23, 2024.

Tony Severino, a CMT candidate, technical analyst, and the author of the CoinChartist VIP newsletter, told Techopedia:

“RNDR is up over 20% on the heels of NVDA earnings, but could have a lot more upside ahead. RNDR’s current all-time high is $8.75 per token. Today, RNDR is trading at roughly $7.17 — only around 15% from the previous peak. Considering the strength in RNDR and growing demand for GPU processing power, new all-time highs are highly probable.”

Here are some key Render token news and reasons why the token has seen such strong price action.

Complex Rendering Jobs Boost Demand for Render’s GPU Computing Services 

2023 was a big year for Render as the GPU marketplace saw demand for its services spike due to growth in complex, large-scale displays, spatial rendering, and extended reality (XR) jobs.

In its Q4 2023 report, Render noted that Apple’s foray into the XR field with the Apple Vision Pro was a demand driver for intensive rendering jobs required for stereoscopic content, higher frames, better resolutions, and increased field of view.

The network also added that it carried out the first large-scale display and spatial rendering job for the Las Vegas Sphere during the quarter.

In a note to Techopedia, Anndy Lian, Intergovernmental Blockchain Expert, explained:

“The main reason why Render token has exploded is because of its AI and GPU/Nvidia’s narratives. The partnership with Apple also gives credibility and opens up a huge market opportunity for RNDR to showcase its technological edge over competitors.”

In 2023, Render saw the total number of frames rendered increase by nearly 14% year-on-year to 9,972,981 frames.

Meanwhile, the amount of total RNDR tokens used during the year reached 2.7 million tokens in 2023 compared to 1.85 million in 2022, leading to an increase of 850,494 RNDR used.

Nvidia’s Record Earnings Back AI Hype

On February 21, 2024, GPU chipmaker Nvidia said Q4 2023 revenue jumped 265% year-on-year to a record quarterly revenue of $22.1 billion on the back of demand surge for its chips. The optimism from Nvidia’s blockbuster earnings spilled over to the crypto markets, causing GPU computing tokens like RNDR and Akash (AKT) to surge as well.

Jensen Huang, founder and CEO of Nvidia, said:

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations.”

More importantly, Nvidia signaled continued strong demand for its GPU chips in its outlook for the first three months of 2024.

The company expected quarterly revenue to rise to $24 billion, up from $22.1 billion posted in the last quarter of 2023.

Launch of OpenAI’s Text-to-Video Sora Signals Growing Demand for Rendering

OpenAI’s text-to-video generative AI model called Sora was unveiled on Feb. 15, 2024. Sora is capable of generating videos of a minute’s length with multiple characters, motion, details, and backgrounds. The complex nature of computing required to convert text-to-video and train AI models to improve their results is widely expected to increase the demand for computing resources.

It was not surprising to see AI cryptos surge on the news.

Some crypto projects, like the decentralized video infrastructure network Livepeer (LPT), even announced that it would bring Sora capabilities to its network in the coming months for users looking to create generative AI videos.

Livepeer tweeted:

Render Token Price Prediction 2024: Cautiously Bullish?

Anndy Lian believes that the RNDR token is a “promising project” with a clear vision and a strong value proposition.

“It is solving a real-world problem and creating a win-win situation for both creators and providers of rendering resources. It is also leveraging cutting-edge technology and partnering with industry leaders to deliver high-quality and cost-effective rendering solutions.”

However, Lian remains cautious that RNDR price movement could be hampered by Render’s scalability and security vulnerabilities, which are largely dependent on the Layer 1 blockchain a dApp operates on.

Although Render had migrated away from a slower and more congested Ethereum L1 in November 2023, Lian was wary of the uncertainties and operational challenges that Render could face on Solana.

Commenting on the future of Render and RNDR token, Alex Galert, CEO of Brainz, said:

“Render’s potential is vast, especially as AI, VR, AR, and other tech trends continue to grow. While $RNDR has seen significant price appreciation, most of its emissions are completed, making it an attractive choice for those bullish on AI and GPU demand.”

In other RNDR token news, Coincodex was bearish on the RNDR token and expected it to slip to $7.48 in its 3-month Render token price prediction.

At the time of writing, RNDR’s 14-day relative strength index (RSI) stood over 87 points, indicating an overbought asset.

However, Tony Severino believes it could be a positive sign.

“RNDR is a clear crypto market leader with a weekly RSI reading of 83.89. While such a reading can signal overbought conditions, it can also point to substantial strength. Additionally, the weekly RSI is making a higher high, generating another buy signal despite clear overbought conditions. RNDR should continue to show upside performance until the monthly RSI reaches overbought levels. It currently shows a reading of 66.39.”

Looking forward, Servino gives a bullish Render token price forecast:

“If RNDR can exceed its previous all-time high, possible targets include the 1.618 Fibonacci extension, which resides at roughly $66 per token. This represents an over 8x increase from today’s RNDR price. Considering the technical strength, fundamental demand, and buzz around AI, RNDR is a promising crypto project worthy of potential investment.”

The Bottom Line: Is Render Token a Good Investment?

The hype around generative AI has pushed the Render token to near-record-high levels. On February 23, 2024, the RNDR token was less than 10% shy of its all-time high of $8.76.

However, investors might consider investing in the Render token with caution as, like any cryptocurrency, it is extremely volatile and considered a risky investment. Remember that analyst predictions can be wrong.

Always do your own research before investing. This article should not be considered investment advice and is for information purposes only.

 

 

 

Source: https://www.techopedia.com/rndr-token-surges-to-a-2-year-high-but-can-the-momentum-last

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Bitcoin, the world’s largest and most popular cryptocurrency, has been on a bullish streak lately, reaching $35,000 for the first time since May 2022. The digital asset has more than doubled in value this year as investors flock to it amid inflation fears, regulatory developments, and growing adoption.

One of the main drivers of Bitcoin’s rally is the anticipation of a spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

Several companies have applied for a spot in Bitcoin ETF, including BlackRock (NYSE:BLK), WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets. The SEC has postponed its decision on these applications until November, but some analysts believe that the regulator will eventually greenlight at least one of them.

A spot Bitcoin ETF would be a game-changer for the crypto industry, as it would boost the liquidity, accessibility, and legitimacy of Bitcoin. It would also attract more institutional and retail investors to the market, creating more demand and driving up the price.

Another factor that is fueling Bitcoin’s rise is the upcoming halving event in 2024. The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block. Many experts believe that this will trigger another bull run that could push Bitcoin to new heights.

One of them is Peter Brandt, a legendary trader and analyst who has been following Bitcoin since 2011. Brandt has recently shared his bullish chart that predicts new all-time highs for Bitcoin by the third quarter of 2024. He says that Bitcoin has hit its bottom at around $25,000 in July 2023 and will break out of its long-term range by mid-2024. He also suggests that Bitcoin will go through a period of consolidation or sideways movement until then.

Brandt’s chart shows that Bitcoin follows a series of bullish impulses followed by periods of correction. He expects that Bitcoin will reach around $40,000 in the short term, based on its convincing break above the $32,000 level. He then forecasts that Bitcoin will correct to around $30,000 before resuming its uptrend and reaching new highs above $70,000 by Q3 2024.

Brandt is not alone in his optimistic outlook. Other analysts have also made bold predictions for Bitcoin’s future price. Some of them include:

  • Alistair Milne, founder of Altana Digital Currency Fund, predicts that Bitcoin will surge to $45,000 depending on what happens with inflation.
  • Dan Tapiero, co-founder of 10T Holdings and Gold Bullion International, who believes that Bitcoin could reach $100,000 by 2025.
  • Tim Draper, billionaire investor and founder of Draper Associates and DFJ Venture Capital, expects that Bitcoin will hit $250,000 by mid-2023.
  • John McAfee, a software entrepreneur and crypto advocate, who claims that Bitcoin will reach $1 million by 2025.

Why I Think Bitcoin Will Drop to $29,000 Before Surging to $40,000

Bitcoin, the world’s leading cryptocurrency, has been on a roller coaster ride this year, reaching new highs and lows. As of writing this article, Bitcoin is trading at around $35,000, up from its recent low of $25,000 in July 2023. However, I believe that this rally is not sustainable and that Bitcoin will face another major correction before it can break out of its long-term range and reach new heights.

There are several reasons why I think Bitcoin will drop to $29,000 before it can surge to $40,000 and above. These include:

  • The lack of a spot Bitcoin ETF approval by the SEC
  • The increasing competition from other cryptocurrencies and technologies
  • The diminishing returns of the halving effect

Let me explain each of these points in detail.

The lack of a spot Bitcoin ETF approval by the SEC

One of the main catalysts for Bitcoin’s recent rally is the expectation of a spot Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

However, I think that this expectation is too optimistic and that the SEC will not approve any spot Bitcoin ETF anytime soon. The SEC has been very cautious and sceptical about Bitcoin and crypto in general, citing issues such as market manipulation, fraud, volatility, liquidity, custody, and investor protection.

The SEC has already postponed its decision on several spot Bitcoin ETF applications until November, but I doubt that it will grant any approval by then. The SEC has rejected or delayed every Bitcoin ETF proposal since 2013, and I don’t see any reason why it would change its stance now.

Therefore, I think that the market is overestimating the probability of a spot Bitcoin ETF approval and that this will lead to disappointment and sell-off when the SEC announces its verdict. I expect that this will trigger a downward pressure on Bitcoin’s price and push it below $30,000.

The increasing competition from other cryptocurrencies and technologies

Another factor that could weigh on Bitcoin’s price is the increasing competition from other cryptocurrencies and technologies that offer faster, cheaper, more scalable, and more innovative solutions.

Bitcoin is the first and most dominant cryptocurrency, but it is not the only one. There are thousands of other cryptocurrencies that have emerged since Bitcoin’s inception in 2009, each with its own features, advantages, and disadvantages.

Some of these cryptocurrencies are challenging Bitcoin’s supremacy in different aspects, such as:

  • Ethereum, which is the second-largest cryptocurrency by market cap and the leading platform for smart contracts, decentralized applications (DApps), decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
  • Cardano, which is the third-largest cryptocurrency by market cap and a rival to Ethereum that claims to offer a more scalable, secure, and sustainable platform for smart contracts and DApps.
  • Solana, which is the fifth-largest cryptocurrency by market cap and a high-performance blockchain that boasts over 50,000 transactions per second (TPS), low fees, and interoperability with other blockchains.
  • Dogecoin, which is the ninth-largest cryptocurrency by market cap and a meme-inspired coin that has gained popularity among retail investors and celebrities such as Elon Musk.

These are just some examples of the many alternatives to Bitcoin that are gaining traction and adoption in the crypto space. These cryptocurrencies are not only competing for market share but also for innovation and development.

While Bitcoin has a loyal fan base and a strong network effect, it also suffers from some limitations and challenges that could hinder its growth potential. Some of these include:

  • Its slow transaction speed of around 7 TPS, makes it unsuitable for micropayments or high-frequency transactions
  • Its high transaction fees of around $10 per transaction, which make it expensive for small or frequent transfers
  • Its limited scalability is due to its fixed block size of 1 MB, which limits its capacity to handle more transactions per second
  • Its high energy consumption is due to its proof-of-work (PoW) consensus mechanism, which requires a lot of computing power and electricity to secure the network
  • Its lack of programmability due to its simple scripting language, which limits its ability to support complex functions or applications

These limitations could make Bitcoin less attractive or relevant compared to other cryptocurrencies or technologies that offer better solutions or features. Therefore, I think that Bitcoin will face more competition and pressure from other players in the crypto space and that this will affect its price negatively.

The diminishing returns of the halving effect

A third reason why I think Bitcoin will drop to $29,000 before it can surge to $40,000 is the diminishing returns of the halving effect.

The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block.

Many experts believe that this will trigger another bull run that could push Bitcoin to new heights. However, I think that this effect will be weaker and less predictable than before.

There are several reasons why I think the halving effect will diminish over time. These include:

  • The decreasing impact of the reward reduction on the supply and demand of Bitcoin. As the reward gets smaller and smaller, it will have less influence on the inflation rate and the market price of Bitcoin. For instance, the first halving in 2012 reduced the inflation rate from 50% to 25%, while the fourth halving in 2024 will reduce it from 1.8% to 0.9%. This means that the supply shock will be less significant and less noticeable than before.
  • The increasing difficulty and cost of mining Bitcoin. As the reward gets smaller and smaller, it will become harder and more expensive for miners to break even or make a profit. This could lead to some miners exiting or reducing their operations, which could affect the security and stability of the network. It could also create more selling pressure on the market, as miners need to sell some of their coins to cover their expenses.
  • The decreasing correlation between the halving and the price cycles of Bitcoin. As Bitcoin matures and becomes more influenced by other factors such as adoption, regulation, innovation, and competition, it will become less dependent on the halving as a price driver. The halving may not be as reliable or accurate as a predictor or indicator of future price movements as before.

Therefore, I think that the halving effect will not be as strong or consistent as before and that it will not be enough to propel Bitcoin to new highs without other positive catalysts or developments.

Conclusion

Of course, these predictions are not guaranteed to come true and should be taken with a grain of salt. Bitcoin is a volatile and unpredictable asset that can be influenced by many factors beyond anyone’s control. Some of the risks and challenges that could affect Bitcoin’s price include:

  • Regulatory uncertainty and crackdowns from governments and central banks
  • Cyberattacks and hacks on crypto platforms and users
  • Technical issues and bugs in the Bitcoin network or software
  • Competition from other cryptocurrencies and technologies
  • Market manipulation and fraud by whales and bad actors
  • Loss of confidence and trust among investors and users

Therefore, anyone who is interested in investing in Bitcoin should do their own research and due diligence before making any decisions. They should also be aware of the potential rewards and risks involved and be prepared for high volatility and price swings.

Bitcoin is a revolutionary and innovative invention that has changed the world of finance and technology. It has also created a new asset class that offers unprecedented opportunities and challenges for investors and users. As Bitcoin enters its second decade of existence, it will continue to evolve and grow, and possibly reach new heights that no one can imagine.

 

 

Source: https://in.investing.com/analysis/anndy-lian-bitcoin-price-surges-to-35000-more-gains-ahead-200601620

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j