Did you also miss some bitcoin news this week? No problem, we’ll help out with our weekly recap, giving you a quick rundown of the BTC updates that could be really important to you. The Bitcoin price is currently rising again very slightly, but investors fear a new price tremor on the crypto market. Are the fears justified or is this just FOMO being generated?
At 31k, #Bitcoin was inches away from breaking out of a massive bull flag.
But this proved to be major resistance on multiple fronts, on long-term data across the board.
So what does this mean?
The primary macro pattern for Bitcoin is… pic.twitter.com/YBLYPlJ5Eu
— CryptoCon (@CryptoCon_) August 26, 2023
Bitcoin ETFs are coming or not: Experts couldn’t be more divided on whether or not the Bitcoin ETFs currently pending SEC approval will pass. Behind the possible approval are far-reaching consequences for the entire crypto world, not just for Bitcoin and Ethereum, which would be exchange-traded ETFs fully collateralized with cryptocurrencies if the decision is positive.
People: #Bitcoin is dead.
Bitcoin :pic.twitter.com/IqTARDmHk8
— Thomas Driver (@thomas_driver) August 20, 2023
Many supporters tend to forget that BlackRock, the world’s largest asset manager, does not only want to implement this Bitcoin ETF out of love for its customers and the increasing demand for an exchange-traded Bitcoin ETF.
Even if Bitcoin sees itself as an alternative to the classic monetary system and supporters like to emphasize that the white paper designed by Satoshi Nakamoto does not envisage the involvement of middlemen, it must not be forgotten: Bitcoin has become the favorite of institutional investors and has thus become a highly speculative asset that is surrounded by the very same financial players that Nakamoto actually wanted to leave out.
There are also many voices in the market saying that the now low BTC prices would suit US Bitcoin ETF applicants a lot. After all, the possible returns are all the greater if the price of the leading cryptocurrency explodes again, from which the clients of the asset managers in particular should benefit if the ETFs are approved.
BlackRock brings the #Bitcoin-Spot ETF not without ulterior motives in the bear market at the start.
If the #Bitcoin If the price is absolutely down at the beginning of the ETF and it can only go up, the ETF has a perfect track record.
Imagine the ETF is then… pic.twitter.com/hfYHiEBl5a
— RobynHD (@TheRobynHD) August 24, 2023
And last but not least, not only does BlackRock have to physically purchase the corresponding cryptos for collateralizing the ETFs. Here, too, the providers benefit from the favorable rates of Bitcoin and other Altcoins.
Crypto projects shortly before token launch: While everyone is waiting for the Bitcoin ETF, retail investors’ capital is currently flowing into these projects:
- Wall Street memes: The last 30 days have now arrived, offering private sector investors the opportunity to benefit from the cheap price of the native utility token ahead of the token launch $WSM for only $0.0337 to benefit. Similar to the critics who are against the Bitcoin ETFs in the USA, Wall Street Memes also wants to do something against the existing financial system and sees itself as an anti-capitalism coin. In the form of memes against the financial world, their super-rich and the large sums that the already rich investors earn through capitalism rebelled. All together they only want one thing and that is to reach a market capitalization of 1 billion US dollars. However, the meme coin is not alone in this and Sonik Coin also wants to successfully overcome this high hurdle.
- Sonic Coin: Unlike Wall Street memes, Sonik Coin is only available online for around 8 days in pre-sales. This is not about capitalism or the enemies of the financial system. With the blue hedgehog, which is rushing so rapidly across the viral channels, it’s all about fun and entertainment. Based on the original from the SEGA video game series Sonic the Hedgehog, comic fans will get their money’s worth here. Sonik Coin is moving towards the $1 billion market cap at lightning speed. The price of the native utility coin is in the only one available Pre-sales phase only $0.000014. What is special about Sonik Coin is the Stake-2-Speek concept, in which investors can block their purchased tokens during the ongoing advance sale. This means staking rewards from the start to build passive income.
Catch us if you can
the $SONIK presale is selling out fast!
https://t.co/s1fTdXDQCK pic.twitter.com/403I2JNuoQ
— SONIK COIN (@Sonikcoin) August 27, 2023
Bitcoin Independence Day also says: BTC HODLing: Bitcoin Independence Day is celebrated by die-hard crypto fans around the world. On August 1, 2017, Bitcoin users demonstrated their independence from Bitcoin miners’ control of the network. They successfully introduced a software upgrade via a user-activated soft fork (UASF) that bypassed uncooperative miners. Thus, they made it clear that users (nodes) and not miners control the rules of the Bitcoin network.
Nobody changes bitcoin without the consent of its users. source
Now a Twitter user has taken the trouble to list the prices for 1 BTC every year on Bitcoin Independence Day since 2010. We have compiled these for you in the following table. To understand how great the potential of Bitcoin is is easily recognizable for anyone. It doesn’t take much to imagine where the price of Bitcoin could be next year on Independence Day!
| Bitcoin Independence Day Aug 01 | BTC price |
| 2010 | $0.06 |
| 2011 | $11.00 |
| 2012 | $10.00 |
| 2013 | $109.00 |
| 2014 | $525.00 |
| 2015 | $233.00 |
| 2016 | $582.00 |
| 2017 | $4043.00 |
| 2018 | $6401.00 |
| 2019 | $10,169.00 |
| 2020 | $11,865.00 |
| 2021 | $49,327.00 |
| 2022 | $20,843.00 |
| 2023 | $26,189.00 |
Back to the big asset managers: Did you know that there is a simple, lucrative and above all anonymous method around Bitcoin that the big asset managers are already using to rake in even more money? Vanguard, the second largest wealth manager in the world, owns 10% of mining company Riot Blockchain.
NEW:
Blackrock is a majority shareholder in 4 out of the 5 largest #Bitcoin miners
pic.twitter.com/tt6FAXVwfn
— Bitcoin News (@BitcoinNewsCom) August 27, 2023
Mining has become the darling of administrators to get even more returns from their assets or those of their customers. Despite the Bitcoin bear market, the hash rate is at a new high and is rising to more and more new ATHs, as Hoss shows on Twitter. BTC mining has become a lucrative source of income and Vanguard is not the only one using it.
As another post shows, BlackRock has financial stakes in 4 of the 5 largest Bitcoin miners. This fact should also prove to the last skeptics among us that Bitcoin is not dead!
How do the really big asset managers, companies or even states arrive? #Bitcoin without moving the course?
Simple answer: mining.
100% Anonymous, not traceable who receives the newly mined Bitcoins, mining BTC enables the “purest kind” of Bitcoin… pic.twitter.com/q0sP3UdqiC
— Hoss (@hoss_crypto) July 11, 2023
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About the author: Stefanie Herrnberger works as a freelance speaker and editor. Her many years of professional experience in the areas of blockchain, cryptocurrencies and NFTs offer her the perfect background to report on current news and developments in decentralized and central financial markets. Stefanie has been investing in cryptocurrencies for several years. She understands the challenges and opportunities for crypto traders. Publications: https://de.cryptonews.com/editors/stefanie-herrnberger https://blockchain-technologie.digital/ https://www.facebook.com/groups/cryptonewsde/