- Miners mined the anniversary 19 millionth bitcoin On Friday, April 01. This event took place at block 730.002. At the time of writing, 90.48% of the total digital gold issue has been mined, which is limited to 21 million BTC.
According to the algorithm laid down by Satoshi Nakamoto, the reward is reduced by 50% every 210,000 blocks. The next halving is expected in 2024. (For reference: the 18 millionth coin was mined on October 19, 2019).

- The trend towards the accumulation of bitcoins among various market participants continued last week. Such well-known companies as Luna Foundation Guard and MicroStrategy are among them. Analysts from the Glassnode company noticed that, in addition to the “whales”, the so-called “shrimp” (addresses with a balance of less than 1 BTC) also contributed to the accumulation. Since the January 22 low, they have accumulated 0.58% of the market supply, bringing their share to 14.26%.
At the moment, miners have already mined 19 million coins out of the 21 million provided by the algorithm, and the accumulation has become many times higher than the emission. Thanks to this, bitcoin may soon become a scarce asset. According to Glassnode, the rate of outflow of coins from centralized platforms has increased to 96,200 BTC per month, which is extremely rare in historical retrospect. Exchange balances fell to the levels of August 2018, breaking through the plateau observed since September 2021. The number of coins in bitcoin addresses that tend to accumulate rose by 217,000 BTC since December 04, 2021, to a record 2,854,000 BTC.
Based on the figures presented, it is possible to obtain a daily accumulation rate of 1800 BTC, which is twice the emission rate. And this is despite the fact that the market has been under the pressure of the bears for most of this period.

- The German Federal Criminal Police confiscated the German servers of the Hydra darknet marketplace. 543 BTC were also seized as part of the international operation with a total value of about 23 million euros. The investigation into the case has been ongoing since August 2021 with the participation of the US authorities. Hydra operators and administrators are suspected of providing opportunities for drug trafficking, fraudulent documents and money laundering.
According to the police, the users of the darknet marketplace included about 17 million customers and more than 19 thousand sellers. Hydra accounted for 75% of all dark web revenue in 2020, at least 1.23 billion euros. The platform entered the top 10 platforms in terms of cryptocurrency turnover, beating the Kraken, OKX and Poloniex exchanges.

- 21% of US residents have traded or invested in cryptocurrencies at least once, according to a survey conducted by NBC News. Only 19% of those surveyed expressed their positive attitude towards digital assets, 56% are neutral or cautious position, and 25% view them in a negative way. The agency explained this distrust by the lack of clear legislative regulation of this industry.

- US Senate Banking Committee member Elizabeth Warren compared the digital asset market to the 2008 economic crisis in an interview with NBC. “The whole digital world is like a bubble. What is the basis for its growth? People tell each other that everything will be fine, as it was with the real estate market before it fell,” Warren explained. The senator added that bitcoin will be regulated by the authorities sooner or later. However, she did not specify how the government plans to achieve such control.

- According to analysts at the investment company VanEck, the price of bitcoin could reach $4.8 million if the cryptocurrency becomes a global reserve asset. Such a forecast was obtained taking into account the M2 money supply, that is, the amount of cash in circulation and all kinds of non-cash funds. There is also a lower range - $1.3 million per 1 BTC, calculated based on the M0 money supply, which does not include non-cash funds.
VanEck analysts warn that their forecast is only intended to serve as a starting point for investors who want to estimate the possible value of bitcoin in one of the unlikely scenarios. At the same time, according to the authors of the forecast, it is not bitcoin at all, but the Chinese yuan that is the primary contender for the status of world reserve currency.

- A report from analytics firm IntoTheBlock says that long-term investors continue to hoard bitcoin. According to the results of Q1 22, the total amount of coins in the wallets of these market participants reached 12 million BTC, worth about $551.37 billion. “Long-term investors now own a record amount. This indicates an accumulation phase, helps ease selling pressure, and may help reinforce faith in bitcoin as a store of value,” IntoTheBlock said.
Bitcoin is now showing an almost complete cyclical correlation with the S&P500, which recently hit 0.9. At the same time, the cryptocurrency with its inherent volatility rises faster and falls just as faster than the stock market. The company's analysts note that "bitcoin has now recovered most of its quarterly losses, while the S&P 500 and Nasdaq 100 ended the first quarter with returns of -3.4% and -7.65%, respectively."

- Galaxy Digital CEO Mike Novogratz has revised his bitcoin outlook. He believes that the arrival of new investors and innovations, developments in politics and the economy, and the acceptance of bitcoin by the authorities improve the forecasts for BTC for 2022. “Initially, I said that bitcoin would have an unstable year, that the price would fluctuate in the range of $30,000 to $50,000. But given how the markets are trading, new investors and innovation, the development of the Web3 and the metaverse, I'm more optimistic. Therefore, I won’t be surprised if cryptocurrencies grow significantly by the end of 2022,” the billionaire said.
In his opinion, the adoption of bitcoin will continue, as everyone understands what an unstable world we live in. “Bitcoin began to write a new history at a time when Europe and the United States blocked Russia's financial flows. The military action in Ukraine creates a lot of inflationary pressure, generates a lot of risks and worries, but adds confidence to crypto investors and accelerates the adoption of digital assets,” the CEO of Galaxy Digital said.

- Raoul Pal, a former Goldman Sachs employee and current Real Vision CEO, shares a similar opinion. He said in the MetaLearn podcast that the world is ready for a new wave of bitcoin adoption, and a further fall in the market will have a beneficial effect on its growth. “Sovereign states, especially wealth funds, will start looking for a long-term asset that will provide some security. Therefore, bitcoin will be studied by them and we will see its further adoption - not necessarily as a currency, but as an asset. I think this is a very interesting solution: the global use of bitcoin as a protective collateral reserve asset."
According to Raul Pal, the macroeconomic situation suggests that the chances of another bitcoin sell-off are slim. Therefore, most market participants are likely to stick to a long-term strategy and not actively trade cryptocurrencies.

- Cryptocurrency analyst and trader Cheds believes that a breakout of the ascending triangle pattern will take bitcoin to $58,000. “We have $46,000... and an ascending triangle,” Chads writes. - It is most logical to consider it as a bullish sign, since such a triangle is usually a bullish continuation pattern. The measured move will be the height of the triangle, which will bring us from $56,000 to $58,000.”
At the same time, the expert advises traders to keep a close eye on the 200-day moving average as this technical indicator is currently acting as resistance. Chads believes that if the bulls manage to keep BTC above $45,000, the cryptocurrency will be ready to storm the SMA-200 resistance for a further 26% gain. Otherwise, the bulls face the risk of a sell-off.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

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