Bitcoin Halving 2024 Count Down Begins: What to Expect?

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5 Mar 2024

Bitcoin 2024 Halving Countdown: Anticipating Changes in Cryptocurrency Landscape.

As the crypto world eagerly awaits the next milestone in Bitcoin’s journey, the countdown to the much-anticipated Bitcoin halving of 2024 has officially begun. Scheduled to occur approximately every four years, Bitcoin halvings are events that have a profound impact on the cryptocurrency landscape. As we approach this significant event, it’s essential to delve into what Bitcoin halving entails, its historical implications, and the potential outcomes for the crypto market.

Understanding Bitcoin Halving:

Bitcoin halving is a pre-programmed event coded into the cryptocurrency‘s protocol, occurring approximately every 210,000 blocks or four years. During this occurrence, the rewards for miners, responsible for validating transactions and securing the network, undergo a reduction by half. The purpose of this mechanism is to control the inflation of the digital currency and manage its supply.
The last Bitcoin halving took place in 2020, reducing the block rewards from 12.5 to 6.25 bitcoins. As we approach the 2024 halving, the reward will once again be halved, this time from 6.25 to 3.125 bitcoins per block. This reduction in supply has historically played a crucial role in shaping Bitcoin’s market dynamics.

Historical Implications:

Bitcoin halvings have been pivotal events in the cryptocurrency’s history, often sparking significant market movements. Reducing the pace of new Bitcoin creation directly affects the available supply, possibly resulting in heightened scarcity. The first two halvings, in 2012 and 2016, were associated with substantial price rallies in the months and years following the events.
After the 2020 halving, Bitcoin experienced a remarkable surge, reaching new all-time highs and capturing the attention of mainstream investors. While historical trends provide a useful backdrop, it’s important to note that past performance does not guarantee future results. The crypto market is dynamic and influenced by various factors, including market sentiment, regulatory developments, and technological advancements.

Market Expectations:

As the countdown to the 2024 Bitcoin halving begins, market participants are eager to speculate on its potential impact. The anticipation of reduced supply has historically led to increased demand, driving up the price of Bitcoin. However, the market is also characterized by its complexity, and other factors will undoubtedly contribute to the unfolding narrative.

Institutional Involvement:

One notable change since the last halving is the increased participation of institutional investors in the cryptocurrency space. Institutional adoption has grown significantly, with major corporations and financial institutions expressing interest in Bitcoin as a store of value and a hedge against inflation. The 2024 halving could further solidify Bitcoin’s position as a mainstream asset class, attracting more institutional capital.

Regulatory Developments:

The regulatory environment surrounding cryptocurrencies is another critical factor that could influence the outcome of the 2024 halving. Governments around the world are grappling with how to regulate and integrate digital assets into existing financial systems. Clearer regulatory frameworks could provide a more stable foundation for the crypto market, potentially attracting a broader range of investors.

Technological Advancements:

Advancements in blockchain technology and the broader cryptocurrency ecosystem could also shape the post-halving landscape. Developments such as the integration of layer 2 scaling solutions, improvements in security, and the evolution of decentralized finance (DeFi) platforms could impact how Bitcoin is utilized and perceived.

Community Sentiment:

The sentiment within the crypto community is always a significant driving force. The lead-up to the 2024 halving is likely to see increased discussions, debates, and speculations within the community. Social media platforms, forums, and news outlets will be abuzz with predictions and analyses, influencing market sentiment.

Risk Factors:

While optimism surrounds the Bitcoin halving and its potential positive impact on the market, it’s essential to consider potential risks. Cryptocurrency markets are known for their volatility, and external factors such as global economic conditions, geopolitical events, and technological vulnerabilities could introduce uncertainties.
As the countdown to the Bitcoin halving of 2024 begins, the crypto community is brimming with anticipation and excitement. Historical trends suggest that the reduction in supply has played a role in driving up the price of Bitcoin.

SEC pushes back BlackRock, Fidelity spot Ethereum ETF proposals

The SEC has again delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity as analysts continue to tip May as the month to watch.
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The United States Securities and Exchange Commission (SEC) has delayed its decision to approve or reject BlackRock and Fidelity’s spot Ether
ETH
$3,734
exchange-traded funds (ETFs). In separate March 4 filings, the SEC announced that its decision on applications from BlackRock for its iShares Ethereum Trust and Fidelity for its Ethereum Fund will be delayed.
The SEC first delayed its decision on BlackRock’s and Fiedlity’s Ether ETF applications in January, shortly after it approved a roster of spot Bitcoin (BTC) ETFs to go live. The SEC can delay its decision up to three times before making a final decision.
The SEC’s delay hasn’t come as a surprise, with market commentators and ETF analysts long speculating that the SEC will only decide to approve or deny the ETFs once the first final deadline arrives in May.
In an earlier Feb. 7 post to X, Bloomberg ETF analyst James Seyffart said that May 23 — the final deadline for VanEck’s spot ETH ETF application — is the “only date that matters” when it comes to Ethereum ETFs.
May 23 is the “only date that matters” for Ethereum ETF applications. Source: James Seyffart on X

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Related: Ethereum network is valued fairly, but ETH could still see 17x return — Brian Russ
Meanwhile, the price of Ether has continued to be spurred by wider market enthusiasm for potential approval, posting gains of 56.7% in the last month. It was not impacted by today’s SEC delay decision.
At the time of publication, ETH is changing hands for $3,754, up 13% for the week per CoinGecko data.
Not everyone is confident, however, that a spot Ether ETF will be as significant as the spot Bitcoin ETFs — with BlackRock’s iShares Bitcoin ETF already notching a staggering $10 billion in assets under management alone.
Bloomberg ETF analyst Eric Blachunas said that he and his colleague Seyffart would have formal odds on an ETH ETF approval out soon, however described the yet-to-be-approved funds as “small potatoes” compared to the Bitcoin funds.
Source: Eric Balchunas on X
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BRAYDEN LINDREA
13 HOURS AGO

MicroStrategy set to raise $600M via convertible notes to buy more Bitcoin

The $600 million in senior convertible notes will mature in March 2030, unless earlier repurchased, redeemed or converted into cash or MicroStrategy stock.
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MicroStrategy, the largest corporate holder of Bitcoin (BTC), is set to raise $600 million as part of a move to buy more Bitcoin.
The business intelligence firm confirmed the news in a March 4 statement, revealing the funds will be issued in the form of senior convertible notes.
X post from MicroStrategy executive chairman Michael Saylor confirming the announcement. Source: X
Senior convertible notes are a debt security that can be converted into equity at a later date. They’re “senior” to common stock in the sense that holders have priority in the event of bankruptcy or liquidation.
MicroStrategy said it "intends to use" the net proceeds from the sale of the notes to buy more Bitcoin for general corporate purposes.
It also expects to grant to the initial purchasers of the notes an option to purchase up to an additional $90 million aggregate principal amount of the notes.
Related: MicroStrategy stock spikes over 20% as BTC price continues skyward
The notes will mature on March 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms.
The notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of cash and shares of MicroStrategy’s class A common stock.
It comes as MicroStrategy’s stock rallied more than 2% to $1,359 on March. 4. Meanwhile, Bitcoin is currently up 8.1% to $67,480 over the last 24 hours and is fast approaching its all-time high price of $69,000, reached on Nov. 10, 2021, according to CoinGecko.
MicroStrategy's change in share price on March 5. Source: Google Finance
MicroStrategy is now up a massive 172% over the month.
The firm’s founder and executive chairman, Michael Saylor, has been the mastermind behind MicroStategy’s Bitcoin investment strategy. The firm currently holds 193,000 BTC, worth $13 billion at current prices, according to BitcoinTreasuries.
With an average buy price of $31,550, MicroStrategy is up nearly $7 billion on its investment.
Magazine: Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame
This is a developing story, and further information will be added as it becomes available.
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NIHATCAN YANIK
28 MINUTES AGO

This creature extraction shooter aims to transcend ‘Pokémon with guns’ formula

Extensive personalization, player-driven markets and rescue missions under time pressure take center stage in this Pokémon-inspired Web3 game.
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AneeMate breathes new life into creature-based gaming by merging PvP mechanics and collection elements. Developed by QORPO, the game offers extensive customization and utilizes NFTs to impact both player experience and the QORPO token economy.
Adapting the fantastical creature formula to gaming, Pokémon sold over 480 million units worldwide and positioned itself as the third best-selling videogame franchise after Mario and Tetris.
Pokémon’s achievement paved the way for game developers eager to capture a slice of this lucrative market. A testament to this trend is Palworld, a recent entrant that has made waves by attracting 2 million peak players and selling over 5 million copies on Steam within its first three days.

A fresh take on a $118 billion formula

Created by Citizen Conflict developer QORPO, AneeMate introduces a novel approach to creature-based gaming with a twist. It blends various genres into a unified gaming experience, reinventing the Pokémon-inspired adventure with elements of exploration, shooter action and the pursuit of collecting AneeMates.

AneeMate seeks to distinguish itself from Palworld and other Pokémon-inspired games by emphasizing player-versus-player (PvP) mechanics. The game offers a multiplayer experience reminiscent of QORPO’s hero shooter — Citizen Conflict — marked by intense PvP action and a sense of urgency.
Players must engage in fast-paced combat, craft valuable items and reach extraction zones before time runs out. Beyond its dynamic action, AneeMate fosters social interaction, enabling asset trading and participation in a player-driven economy.

AneeMates come in multiple shapes, elemental origins and designs. Source: AneeMate

By customizing a kid avatar, players start their journey on the Hidden Islands — a constantly expanding group of small islands, each defined by a unique element that shapes its appeal and hazards. AneeMate gives players a 30-minute window to embark on missions to find loot, craft weapons, fight against rivals and capture AneeMates.
The game offers an adventure into a realm of myths and tales, embodying the fantasy world every child dreams of. Only teens can enter the Hidden Islands, where players represent young heroes on a quest to save AneeMates.

From generic to iconic: Character customization

A Harvard Business School study shows that personalization options in gaming significantly increase player engagement and retention. Emphasizing extensive customization options, AneeMate departs from the traditional fixed character designs. Players can customize their character’s appearance with a broad selection of clothing and accessories.

AneeMate lets players customize their characters with various clothing and accessory choices. Source: AneeMate

Cointelegraph Accelerator participant QORPO Game Studio commits to continually expanding alternatives, keeping the customization choices fresh and appealing.

Evolving creatures meet NFTs

AneeMate captivates players with the joy of collecting distinct creatures with different designs and elemental origins. The initial Genesis Collection, featuring 3,333 unique AneeMates, was released last December and sold out immediately. The collection showcased 18 different creatures from the Hidden Islands, designed to evolve into stronger versions as players progress within the game.

Players can keep both the original and the evolved form of AneeMates. Source: AneeMate

As AneeMates evolve, players can keep both forms, with the opportunity to mint the evolved version as a potentially highly sought-after nonfungible token (NFT). QORPO claims that creatures featured in this collection won’t be available anywhere else and won’t be obtainable in game.
Utilizing NFTs for in-game assets reduces the supply of the QORPO token -which was recently listed on ByBit- enhancing its value. QORPO Game Studio’s approach integrates all its products and services with a single studio token, ensuring the token’s value is diversified across various projects.
Learn more about AneeMate

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