Price Report: BTC's 160% Surge Sparks Debate

Is Bitcoin's 160% price jump giving bull run signals?

In the last six months, Bitcoin's value has surged by more than 160% - in no small part due to the ETF approval. And as with past seasons of sustained price increases, it starts to become a predictions game as more analysts weigh in on what might happen. 

What we can rely on, however, is the past - at least as a structure for what may happen in the future. And given that we’re approaching the next halving, there’s some interesting analysis out there from Cointelegraph and Bitcoin.com that indicates Bitcoin might be on the verge of a retracement phase (or correction). 

At XEROF, we remain optimistic about the future of Bitcoin in the short, medium and long term, and what Bitcoin adoption means for web3’s success overall. As web3 projects continue to integrate with traditional financial systems, these solutions will lay a solid foundation for the future of decentralised finance.

If you are curious about the progress web3 is making in Europe, you can read our team's latest article here, where they review how competition among nations to adopt blockchain technology and regulations is heating up and which European countries are becoming attractive destinations for web3 projects.

Additionally, I'm currently in London attending the Digital Asset Summit 2024. If you're interested in meeting up for a coffee and a chat, feel free to reach out.

Warm regards,
‍Marc

Market Moves & News of Note 

Bloomberg: Binance CEO Teng sees Bitcoin topping $80,000 on ETF inflows
Binance CEO Teng predicts Bitcoin will soar beyond $80,000, fuelled by institutional investments in ETFs. He foresees ongoing fund inflows into the cryptoasset market and anticipates further adoption from endowments and family offices, suggesting continued growth potential for Bitcoin ETFs.

Cointelegraph: Cardano finally gets fiat-backed stablecoin USDM after huge delays
Cardano celebrates a major milestone with the introduction of USDM, its first fully fiat-backed stablecoin. The stablecoin was intended to debut in early 2023 but faced delays when cryptoasset-friendly banks closed. Mehen Finance's launch of USDM on Cardano will be a step forward in providing users with essential services. Plans for further expansion are already underway.

Financial Times: UK regulator to allow crypto-related securities
The UK's financial regulator has eased restrictions on digital assets, permitting the listing of Bitcoin and Ethereum-backed exchange-traded notes (ETNs) for professional investors on the London Stock Exchange from April, potentially expanding access to popular tokens like Bitcoin.

Views from Switzerland

Other reading, insights and resources from XEROF.

How Europe is progressing in web3 in 2024 
‍There is global competition among nations to attract web3 companies through favourable regulatory environments. While the US faces regulatory challenges, Europe, particularly France, offers clear frameworks and tax incentives, prompting many firms to relocate.

We deserve better than the digital euro
XEROF CEO Marc Taverner discussed the impact of the digital euro and AI on financial privacy in the EU with Euronews. He highlighted concerns about threats to personal freedoms and the urgent need for safeguards to protect individual rights and market competitiveness amidst delays in policy adoption.

What you need to know about effective treasury management
Web3 companies in 2024 face challenges in managing their treasury, particularly when using cryptoassets for daily expenses. Tune.FM's success story highlights the crucial role of trustworthy partners like XEROF in overcoming these challenges and helping to secure funding.