Crypto Rewind week 4: Bitvavo shares good news, bitcoin rises and more

The first month of 2023 is almost over. Crypto prices fell sharply last year, but that has changed in the past few weeks. Sentiment is now clearly positive again, and that is reflected in what is happening in crypto land.

Bitcoin continues to rise: has the bull market started?

At the beginning of this year, bitcoin (BTC) started a clear upward trend. Last week we again received a number of signals that indicate at least positive sentiment. For example, there is now a record amount of options open. They are predominantly call options, meaning investors are hoping for a rising price. This development does not necessarily have to be positive for the price, but it does indicate that we can expect volatility.

Also, the vast majority of bitcoin buyers are institutional. These are often parties that invest for the long term, so it is good that they consider the assets undervalued. In general, institutions know better what they are doing, so it is possible that buying institutions will usher in a new bull market.

A popular fund manager thinks bitcoin will enter a new bull market once inflation is around 4 to 5%. The rise in bitcoin remained relatively limited, but some altcoins are already rising sharply. In fact, Aptos is up 250% in just two weeks.

Good Bitvavo news about Genesis

There is also positive news outside of races. For example, Bitvavo announced that it will receive most of the amount due from Digital Currency Group (DCG). In addition, Ripple expects the lawsuit with the SEC to finally end later this year, and the bankrupt bitcoin miner Core Scientific suddenly received a large amount of money for a restart.

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Furthermore, the developers behind Cardano (ADA) are working on a big step: the network will get its own stablecoin called Djed. However, the Cardano network briefly experienced a problem with a number of nodes, but according to Cardano founder Charles Hoskinson, this is not a cause for panic.

Furthermore, former FTX CEO Sam Bankman-Fried and his family have been threatened in their own home. To prevent SBF from influencing witnesses, he is forbidden to have contact with these witnesses. A few huge creditors of FTX have also been revealed, including Apple and Netflix.

Earn Bitcoin playing Mario

Investing in crypto is not always easy, and it also costs money. But that doesn’t apply everywhere. For example, in the original Super Mario game on the NES, a developer turned the coins into rewards in bitcoins. For every coin he takes, he gets 10 satoshis.

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