The past week saw the prices of bitcoin falter post-halving after a dramatic rally in the lead up to the actual event. There were also several developments in the crypto space, with the likes of JPMorgan and Telegram making major announcements. Alexander S. Blum, crypto investment expert and Chief Operating Officer of fintech firm Two Prime, discusses the following topics this week, with full commentary below.
- On post-halving prices — Bitcoin’s much anticipated halving event is now over. Prices have also fallen back to the $9,700 levels. Given BTC price movements at previous halvings, what happened and where do we go from here?
- On JPMorgan banks Coinbase, Gemini — JPMorgan recently announced a new foray in the crypto markets, accepting Coinbase and Gemini as new banking clients. Is crypto finally mainstream?
- On Telegram pulling out of its TON project — Telegram’s TON blockchain project is now officially out of the window. Is this an example of overly-stringent regulations destroying innovation?
On Post-Halving Prices:
“The halving has finally come and gone. Given its historical significance, many are interested as to where prices will go consequent to the event. The immediate impact was a fall in prices, to around $9,700 at the time of this video — neither a catastrophic decline nor a dramatic spike, but rather a surprising lack of volatility compared to what we have witnessed with Bitcoin over the past few years. This could be, in part, a result of more active participation from traders and financial intermediaries in bitcoin markets — trading off volatility and profit-taking at regular intervals, and in turn fueling demand for and driving prices of bitcoin….