Crypto Prices April 19: Crypto Market Preps for Halving Hype

Crypto value surged significantly in the past 24 hours

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Crypto News Key Highlights:

• As the highly anticipated 2024 Bitcoin halving approaches, market sentiment soars amid a significant price rebound in the broader crypto industry. With Bitcoin nearing $65k and less than 100 blocks left, optimism grows. Geopolitical tensions caused a brief dip below $60k, yet halving anticipation drives upward momentum, fueling investor confidence.

• Tether, the leading stablecoin provider, expanded USDT support on the TON network, announced by Telegram and Tether CEOs at TOKEN2049. USDT is now listed on TON alongside other currencies. TON teases collaboration with Tether and other projects, causing a 15% surge in Toncoin price with increased trading volume.

• Peter Schiff critiques Bitcoin's volatility, contrasting its performance with gold during market downturns. He questions Bitcoin's status as a safe-haven asset and digital gold alternative due to its failure to hedge against uncertainty. Discussions on Bitcoin's role as a hedge involve its adoption and size relative to traditional assets.

• US Bitcoin ETFs face consecutive outflows, notably Grayscale's GBTC with a $89.99 million outflow, totaling $16.6 billion. Analysts speculate on slowing outflows due to tax implications, while high fees drive investor exodus. BlackRock's IBIT sees 70 days of inflows, contrasting Grayscale's performance.

• India banned 9 foreign exchanges, including Binance, due to FIU compliance issues. Binance plans to return after a four-month ban, paying a $2 million penalty. Its comeback may invigorate India's crypto market, introducing competition. Binance commits to FIU registration and compliance with Indian laws.

• Google Ads promotes fake Whales Market site, luring users into phishing scam. Malicious actors exploit sponsored ads, redirecting users to fraudulent domains, draining crypto from wallets. Google takes legal action against scammers, deactivating 87 fraudulent apps. Google introduces wallet balance search feature for various blockchains.

• Bitwise CEO Hunter Horsley reveals widespread Bitcoin adoption among RIAs and family offices, despite minimal public acknowledgment. Meetings with financial firms exceed expectations, signaling a significant turning point in Bitcoin's adoption. Horsley predicts a $100,000 Bitcoin price post-Halving, emphasizing historical price surges.

• BitMEX increases leverage for Bitcoin perpetual swaps to 250x ahead of halving, catering to traders' demand for profit amid volatility. CEO Stephan Lutz aims to optimize gains, emphasizing deep liquidity and enhanced protection. The exchange also launches XAUtUSD perpetual contract for Tether Gold trading with 25x leverage.

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Also read - Crypto Prices Today April 19: Halving Sparks Market Meltdown