Crypto Update | 21Shares Exec on Aftermath of the Halving, Future of Bitcoin Network
Apr 22, 2024
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Eliézer Ndinga from 21Shares discusses the impact of the Bitcoin halving on miners, entrepreneurs, and future consumer applications. The podcast explores rising transaction fees, Bitcoin price post-halving, market trends, Ether ETF approvals, and the potential for consumer-facing applications in blockchain technology.
Emergence of consumer-facing applications on Bitcoin network offers entrepreneurs new opportunities for blockchain technology.
Bitcoin halving event marked significant milestone with inflation rate dropping below 1% for the first time.
Deep dives
Shift Towards Consumer-Facing Applications on Bitcoin Network
Entrepreneurs are seizing the opportunity presented by the increasing emergence of consumer-facing applications powered by blockchain technology, particularly on the Bitcoin network. This trend signifies a notable shift where applications like a Bitcoin-secured PayPal equivalent are becoming a reality, offering entrepreneurs a chance to delve deeper into the Bitcoin ecosystem and capitalize on its potential.
Impact of Bitcoin Halving and Changing Network Dynamics
The recent Bitcoin halving event marked a significant milestone as Bitcoin's inflation rate dropped below 1% for the first time in history. Notably, Bitcoin hit an all-time high before the halving, a unique occurrence in the cryptocurrency's history. Furthermore, with transaction fees on the Bitcoin network skyrocketing, reaching unprecedented levels compared to other networks like Ethereum, there is a growing emphasis on building scalable solutions and layers atop the Bitcoin network to foster a decentralized finance economy.
Bitcoin's Future Price Speculation and Evolution in the Market
The discussion around Bitcoin's price post-halving reveals varying perspectives on market behavior and volatility. With historical data indicating potential drawdowns and increased institutional interest in Bitcoin as an investment asset, there is anticipation for heightened market volatility. The future trajectory of Bitcoin's price remains uncertain, yet the supply shock induced by the halving event, coupled with advancements in investment products and global accessibility, signal a dynamic landscape for Bitcoin within the financial sector.
The latest price moves and insights with Jennifer Sanasie and 21Shares' Eliézer Ndinga.
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Bitcoin (BTC) is trading above the $66,000 level after the halving took place late last Friday. Eliézer Ndinga, 21Shares' VP and Head of Strategy and Business Development, Digital Assets, discusses the halving's impact on miners, entrepreneurs, and future consumer-facing applications.
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This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Victor Chen, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.