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23 Jun 2024 BY IST Markets

MVRV shows that Bitcoin still far from “overvalued” territory

Major crypto developments for the week: MVRV shows that on a multi-year view, Bitcoin is still far from being overvalued Bitcoin enters top 10 largest global assets by market cap Blackrock seeds ETF with $100K, confirms high likelihood of ETF approval Bitcoin soars to $44K, registers historic positive weekly returns before correcting CME futures open interest for Bitcoin reaching all time highs of over $5 billion Google search trends show lackluster retail exuberance in crypto market

23 Jun 2024 BY IST Markets

Bitcoin’s Halving: The Catalyst for the Next Big Crypto Rally?

Bitcoin’s Halving: The Catalyst for the Next Big Crypto Rally? One of bitcoin’s most important properties, in addition to being permissionless, decentralized, and censorship-resistant, is the fixed supply. This quality makes bitcoin similar to traditional commodities such as gold and silver. Just as the supply of gold diminishes over time as miners unearth the metal from the earth’s crust, the supply of new bitcoin reduces through an inbuilt mechanism which halves the creation of new bitcoin roughly every four years. This supply reduction is known as “the halving”, and represents not only a fundamental change to the way Bitcoin operates — but a symbolic celebration of the cryptoasset’s ever-increasing scarcity. And lest we forget – each halving has historically preceded a big bull run.

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