Bitcoin’s Value Set to Skyrocket Post-Halving?
Here are this week's investing and economic insights:
#MarketTrends
Bitcoin’s Value Set to Skyrocket Post-Halving?
In April 2024, Bitcoin’s mining reward will halve from ₿6.25 to ₿3.125. This event, known as halving, is significant for the cryptocurrency.
Bitcoin’s blockchain, which records all transactions, rewards miners with Bitcoin for validating transactions.
The Bitcoin network has a maximum limit of 21 million Bitcoins, with the mining reward halving approximately every four years.
Despite initial revenue drops for miners after each halving, the value of Bitcoin tends to appreciate, compensating for the reduced quantity.
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The Insight: How To Find The Opportunities
The upcoming Bitcoin halving could present an investment opportunity.
Historically, Bitcoin’s value has appreciated following halvings, potentially offering increased returns despite the reduced mining reward.
Additionally, the finite supply of Bitcoin could drive its value up over time.
However, investors should be aware of the volatility and risks associated with cryptocurrency investments.
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#QuoteOfTheWeek
“Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets." - Kim Dotcom
Kim Dotcom’s quote suggests that Bitcoin’s potential as a global currency could make it a significant payment and asset transfer method.
This implies that investing in Bitcoin could offer exposure to a growing, potentially globally dominant financial technology, presenting a unique, albeit volatile, investment opportunity over the next decade.
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#What is happening this week?
ASX 200 Shatters Records: Hits 7,800 Points!
This week marked a historic moment for the Australian market as the ASX 200 rose by 1.3%, closing above the significant threshold of 7,800 points for the first time.
This impressive feat was driven by a worldwide equity rally, triggered by positive comments from Fed Chair Powell and ECB President Lagarde suggesting upcoming rate reductions.
Earlier this week, Australia’s GDP data for the December quarter met expectations, indicating consistent economic growth.
Despite slight falls in some sectors like Energy and Materials, the overall market mood stayed positive, with Financials, Real Estate, and Healthcare leading the way.
Gold Prices Skyrocket to Record $2,150
Gold reached a new all-time high, trading above $2,150.
The recent surge is linked to the potential rate cuts, among other factors.
Central banks ramped up their gold purchases in 2023, reducing market supply - and the increased risk due to two ongoing wars has undoubtedly boosted demand as well.
EV Stocks Tumble Amid Intense Competition
The past week was challenging for EV stocks following Tesla’s announcement of new incentives in China and other regions.
The EV industry is currently experiencing a severe price war. BYD has already retaliated with a price reduction in China.
The decreasing demand and prices could impact these two companies’ profits for some time.
The situation is even more critical for their smaller competitors, who lack the operational scale and might need to consider acquisition soon.
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Best Regards,
James Lim, SFA Founder
Disclaimer:
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Top 3 discussed stocks : $Tesla Motors(TSLA)$ $Pinduoduo Inc.(PDD)$ $NVIDIA Corp(NVDA)$
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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