BTC Update 04/21/2024, 63046(+5.8%)
Journaling Days: 08
BTC printed its lowest 63046 at 08:03/04/20/2024
BTC printed its highest 64963 at 06:57/04/21/2024.
Journal time: April 19th-20th. 7am-7am UTC+7
News Update:
Bitcoin whales have remained active over the past week, accumulating and building on their existing holdings despite Bitcoin's dip following its 4th halving. While the price of Bitcoin fluctuated, some of the biggest Bitcoin holders, holding over 0.1% of the total supply added 19,760 Bitcoins to their holdings at an average price of $62.5k. At the time of reporting, Bitcoin was trading at $63,777 with a market capitalization of over $1.2 trillion.
The U.S. Internal Revenue Service (IRS) has introduced a new draft tax form, Form 1099-DA, for reporting digital asset proceeds from broker transactions. The new form, applicable for tax filings in 2025, requires brokers, including unhosted wallet providers, to report proceeds from digital asset dispositions to the IRS. The form has raised privacy and security concerns due to the inclusion of wallet addresses in the data points collected by the IRS.
Following the halving event, Bitcoin transaction fees soared to over $240. The block height 840,000 saw a substantial increase in transaction fees, with mining pool Viabtc collecting 37.626 bitcoin in fees worth $2.39 million. The current high-priority fees stand at $245-$203 per transfer, while low-priority fees are around $159 per transaction.
Bitwise CEO, Hunter Horsley, has predicted that wealth management firms will increase their Bitcoin ETF holdings by the end of the year. This comes as BlackRock's iShares Bitcoin Trust (IBIT) is only $2 billion short of overtaking Grayscale as the biggest Bitcoin fund in the world. Meanwhile, Grayscale experienced a net outflow of $1.6 billion since January. The trend suggests a shift in market dominance in the Bitcoin ETF sector.
BTC Prediction for 04/21-22/24
Short: 65400
Long: 63045
Prediction expired at 04/22/24.07:00 am UTC+7.
BTC Prediction for 04/20-21/24 (Update) #Final
No trading
BTC 04/15-16/24 Prediction (Update)#6
I keep my positivity about the Long position BTC opened at (63820) on that session day. I plan to update this position until BTC prints 67k.