Shiba

United

Bitcoin

Shiba Inu

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/millionaires-flock-to-bitcoin-as-another-joins-the-trend/" data-wpel-link="internal">Millionaires Flock to Bitcoin as Another Joins the Trend</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/milyonerler-bitcoine-kayiyor-bir-isim-daha-akima-katildi" data-wpel-link="internal">Bitcoin</a></strong> (<a href="https://coin-turk.com/josh-rager-bitcoin-bu-gelisme-ile-beraber-yukselecektir" data-wpel-link="internal">BTC</a>) has surpassed the $65,000 mark, causing a noticeable stir of surprise and excitement within the cryptocurrency community. In just the last 24 hours, a significant jump of over 6% has brought <a href="https://en.coin-turk.com/will-spot-bitcoin-etf-applications-receive-approval-from-the-sec-potential-impact-of-an-etf-approval-on-the-market/" data-wpel-link="internal">Bitcoin</a> to striking distance of its all-time high, sparking debates about the potential of another major bull run. Despite skepticism and cautious sentiment surrounding the largest cryptocurrency’s rapid price increase, there are notable differences in this cycle compared to the previous 2020-2021 hype cycle, suggesting a potential shift in the crypto market outlook.</p> 
<h2 style="text-align: justify" id="strong-distinctly-different-from-previous-cycles-strong"><strong>Distinctly Different from Previous Cycles</strong></h2> 
<p style="text-align: justify">One of the key factors differentiating this cycle is the growth of spot Bitcoin exchange-traded funds (ETFs), which have seen significant net inflows totaling $8 billion to date. ETFs issued by respected financial institutions like BlackRock, Fidelity, and Bank of America’s Merrill Lynch not only bolster the legitimacy of cryptocurrencies but also contribute to upward price trends by creating significant buying pressure on Bitcoin.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-323076" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-ve-Altcoin.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">Moreover, CME Group’s crypto derivative products are generating record volumes, often seen as an indicator of institutional interest, signaling increased attention to cryptocurrencies across various sectors.</p> 
<p style="text-align: justify">On the other hand, unlike previous cycles, the current surge in interest does not include the same level of celebrity participation, potentially indicating a significant deviation from past influencer-driven hype. Despite the absence of leading influencers, the crypto market is facing a notable increase in speculative behavior with significant capital inflows into meme coins like Dogecoin (<a href="https://en.coin-turk.com/legendary-sci-fi-shooter-doom-now-stored-on-dogecoin-blockchain/" data-wpel-link="internal">DOGE</a>) and <a href="https://en.coin-turk.com/shibarium-the-growing-layer-2-solution-for-shiba-inu-shib/" data-wpel-link="internal">Shiba</a> Inu (SHIB), and increased leverage on platforms offering Bitcoin futures.</p> 
<p style="text-align: justify">Regulatory changes such as the European Union’s MiCA and the United Arab Emirates’ digital asset trading licensing program offer potential avenues for investors to access regulated crypto derivatives while concerns about potential risks associated with excessive speculation and leverage persist.</p> 
<h2 style="text-align: justify" id="strong-changes-in-the-crypto-lending-sector-also-attract-attention-strong"><strong>Changes in the Crypto Lending Sector Also Attract Attention</strong></h2> 
<p style="text-align: justify">In response to past shortcomings, efforts continue in the crypto lending sector to adopt more sustainable practices and enhance investor protection. Initiatives like tokenization giant Securitize’s “Earn” program, offering over-collateralized loans and tokenized funds, indicate a shift towards efficient use of cryptocurrencies and responsible lending practices.</p> 
<p style="text-align: justify">Although uncertainties and challenges remain, the current uptrend in Bitcoin’s price, combined with advancements in regulatory frameworks and industry practices, offers a glimmer of hope for a more sustainable and legitimate crypto market. Stakeholders continue to focus on promoting responsible growth and mitigating risks as they navigate this evolving landscape, aiming to ensure the long-term viability of the crypto sector.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/millionaires-flock-to-bitcoin-as-another-joins-the-trend/" data-wpel-link="internal">Millionaires Flock to Bitcoin as Another Joins the Trend</a></h5>

Millionaires Flock to Bitcoin as Another Joins the Trend

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