Bitcoin enthusiasts rejoice as traditional banks crumble and cryptocurrency value surges  | Digest #1

Bitcoin enthusiasts rejoice as traditional banks crumble and cryptocurrency value surges | Digest #1

Mar 24, 2023Β·

2 min read

Bitcoin's recent rally amid the turbulence in banking has led to a positive outlook for the cryptocurrency, with its supporters touting its purpose as a trustless system. The surge in Bitcoin's price to above $28,000 this week has also been attributed to its function as a digital-gold safe haven.

Source: Coingecko

While most the predictions are optimistic, they do highlight the growing interest and confidence in Bitcoin as an investment asset. Investment firm Goldman Sachs has revealed that Bitcoin has outperformed many traditional investment assets, gaining 51% in year-to-date absolute returns. This marks a significant change from just a few years ago when many financial institutions dismissed Bitcoin as a speculative bubble.

Of course, there are always risks and uncertainties in any investment, and cryptocurrencies are no exception. But for now, it seems that the sentiment around Bitcoin and the crypto market is bullish, with the Crypto Fear and Greed Index reflecting a high level of greed among investors. Will Bitcoin continue its upward trajectory and reach the ambitious price targets set by analysts? Only time will tell, but for now, it’s certainly an exciting time for Bitcoin investors.

Blockchain Highlights

Bitcoin Miner – Crypto mining simulator with real Bitcoin rewards

Making "The Blockchain" the Next Place you Need to Be
While blockchain can do more than buying and selling, almost all other use cases can be solved by existing technologies, and primarily exist to serve and take advantage of the blockchain's transactional nature.

ChatGPT says real-time data from web3, dePIN sources would optimize its potential

Network & Code

Exciting news! CKB Hackathon is coming up, share your feedback by taking this survey and join our Discord!

Projects Involved

We are a veteran in blockchain infrastructure research and engineering. By committing to the "open source everything" model, we continue to design and build trustworthy protocols and products serving millions of users, covering all aspects of the blockchain ecosystem and servicing the digital world of tomorrow.

Nervos CKBEthereumAxon
Open-source public blockchain ecosystem based on the PoW consensus mechanismResearched and prototyped Sharding and the Casper consensus protocolLayer 2 framework designed for applications requiring high throughput such as gaming or social network.
SparkPoolCITAPeatio
World's largest Ethereum mining pool until shutting down in September 2021Open-source kernel infrastructure for enterprise-level blockchainWorld's first open-source trading platform for digital assets

πŸŒπŸ’¬Stay in the loop and follow us on the journey!

Β