Bitcoin to the moon!!

Bitcoin has achieved a new all-time high and has been hovering around US$70,000 mark. So is it time to take profit $Coinbase Global, Inc.(COIN)$  ?? 

The advent of Bitcoin ETFs has resulted in huge inflows into Bitcoin, driving the price up. Furthermore, another pivotal event on Bitcoin's blockchain is the halving, when the reward for mining is cut in half. After the network mines 210,000 blocks—roughly every four years—the block reward given to Bitcoin miners for processing transactions is cut in half. This event is called halving because it cuts the rate at which new bitcoins are released into circulation in half. The next halving is expected to occur in early-to-mid 2024, when the block reward will fall to 3.125. Over time, the impact of each halving will diminish as the block reward approaches one satoshi. This rewards system will continue until about 2140, when the proposed limit of 21 million coins is reached. At that point, miners will be rewarded with fees for processing transactions, which network users will pay. These fees ensure miners are still incentivized to participate and keep the network going.

As of October 2023, about 19.5 million bitcoins were in circulation, leaving just around 1.5 million to be released via mining rewards. More than ~93% of the Bitcoins have been mined, hence it is clear that there's very little Bitcoin left for mining.

In my personal opinion, this is clearly a speculative play and it is not a good time to have "fear of missing out" and purchase at a high price. Similarly, there are highly highly-volatile stocks such as $AMC Entertainment(AMC)$  $Palantir Technologies Inc.(PLTR)$  $Bilibili Inc.(BILI)$  $Roblox Corporation(RBLX)$   which I would avoid at the time being. What about you? Let me know your thoughts!

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