Hello Inspired Hustlers!
Do you know what time it is?
It's countdown time!
We're gearing up for the next big event in the crypto world: the Bitcoin Halving.
For those of you who are new to the scene, the Bitcoin Halving is like the Mega Event of crypto events. It happens approximately every 4 years and is a pivotal moment for Bitcoin and the entire crypto market.
So, why all the hype? Let's break it down:
The Bitcoin Halving is when the rewards for mining new Bitcoin blocks are cut in half. This reduction in rewards occurs roughly every 4 years and plays a critical role in managing Bitcoin's supply and inflation rate.
Right now, miners are rewarded with 6.25 BTC for each block they mine. After the Halving, this reward will decrease to 3.125 BTC. This process will continue until the total supply of Bitcoin reaches its cap of 21 million coins.
Let's navigate the crypto market together as we countdown to the Halving event! π
The Halving is a key mechanism designed to control inflation and maintain the scarcity of Bitcoin. By reducing the rate at which new Bitcoin enters circulation, the Halving helps to preserve the value of existing coins and reinforces Bitcoin's deflationary nature.
Historically, each Bitcoin Halving has been accompanied by a surge in market activity. While past performance is not indicative of future results, previous Halvings have often preceded significant price rallies.
Click the link to join now and level up your crypto journey! π
However, it's essential to note that the size of the pre-Halving rally has gradually diminished over time. This could be attributed to miners selling off their Bitcoin to lock in profits ahead of the event.
So, what's our take on the matter? Well, we're not fortune tellers, but we're excited to see how this plays out. The Bitcoin Halving is a momentous occasion, and we're here for all the action.
Stay tuned for more updates and insights as we countdown to the big day! π
π Ark 21Shares Amends Proposal: Potential Game-Changer for Crypto-ETFs
Ark 21Shares has updated its spot ether ETF proposal, adding language about potential staking, a move seen as a milestone in the crypto-ETF space.
The amendment suggests staking a portion of the Trust's assets through third-party providers, mainly staking ether tokens.
Blockworks analyst Spencer Hughes sees this as significant, especially given that around 25% of the total ETH supply is currently staked.
The SEC's decision on the spot ether ETFs is expected in May, with opinions on approval divided.
This amendment highlights the growing convergence of traditional finance and digital assets and its potential impact on the broader crypto landscape. ππ
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π Welcome to Episode 7 of The Crypto Talks! π
In this thought-provoking episode, we tackle a significant question: "Is Crypto Halal?" Join us as we venture into the intersection of crypto and Sharia law.
π€ Halal Finance Exploration: Explore Sharia-compliant finance in crypto, its application, and relevance.
π Trading Ethically: Find ethical ways to earn in crypto, such as spot trading, staking, and other Sharia-compliant methods.
π« Avoiding Unethical Practices: Learn to avoid riba, gambling, and dubious projects, prioritizing ethical conduct in crypto.
π Guidance on Ethical Practices: Navigate crypto responsibly, adhering to Sharia principles while engaging in digital asset activities.
π£ Important Note: While we offer insights based on our understanding, it's essential to remember that we are not religious scholars. Our aim is to provide guidance, but Allah knows best.
Wishing you a great weekend!
-Zain from Team Inspred Analyst
Signing off!
Disclaimer: The content in this newsletter is for educational purposes only and should not be considered financial advice. Cryptocurrency trading involves risk, and past performance is not indicative of future results. Before making any financial decisions, conduct your research and consult with a qualified financial advisor. Use the content at your own discretion and risk. This is not financial advice.