Exclusive Insights by Kathleen Breitman: Tezos Co-Founder on Bitcoin Halving
On April 22, 2024, Kathleen Breitman, the co-founder of Tezos Blockchain, shared her exclusive insights on CNBC’s “Squawk Box” with co-anchor Joe Kernen about the Bitcoin market post its fourth-ever halving on April 20.
Market Expectations:
- Breitman was surprised by the strong buying interest in Bitcoin post-halving.
- Noted a significant pullback just before the event despite being anticipated.
US-Listed Spot Bitcoin ETFs:
- Discussed the impact of spot Bitcoin ETFs in the US launched on January 11.
- Suggested that purchasing Bitcoin became harder due to increased demand.
The Role of Memes and Market Sentiments:
- Bitcoin market operates on memes or popular market sentiments, influencing price movements.
Security Budget and Transaction Fees:
- Bitcoin’s security budget is independent of the security actually provided.
- Post-halving, block rewards decreased, and transaction fees increased due to the Runes protocol activities.
Market Sophistication and Future Predictions:
- Bitcoin market is becoming more sophisticated with informed players.
- Price will likely increase as retail investors expect it, but effects of halving should already be priced in.
Bitcoin is currently trading at $65,900, up 1.46% in the past 24 hours as of 3:05 p.m. UTC on April 22.
Hot Take: Analyzing Bitcoin Post-Halving Insights
Reflecting on Kathleen Breitman’s exclusive insights post the Bitcoin halving, the market’s behavior continues to surprise as buying interest remains robust. The impact of US-listed Spot Bitcoin ETFs raises concerns over increased demand and purchasing complexities. Memes and market sentiments exert a significant influence on Bitcoin price movements, highlighting the market’s nuances. As Bitcoin’s security budget and transaction fees evolve post-halving, it underscores the market’s adaptability to changes. With a more sophisticated market and future predictions in play, the ongoing Bitcoin price surge reflects both retail investor expectations and market dynamics.
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