The Bitcoin Street Journal Bitcoin Market Update Episode 45 Week 27

Welcome to The Bitcoin Street Journal Bitcoin Market Update podcast, your daily source for live updates on the bitcoin market. Join us as we delve into current bitcoin technical analysis, track bitcoin (BTC) prices, explore market capitalization trends, and analyze market supply. Stay ahead of the curve with our comprehensive coverage of the ever-evolving world of bitcoin. In today's episode, we'll cover topics such as the Bitcoin hash rate hitting an all-time high, central banks launching CBDCs, scalability solutions like the Lightning Network, recent hacking incidents, the surge in Bitcoin funds, asset managers buying shares of Riot Blockchain & Marathon Digital, the increasing percentage of Ethereum staked, conditions for Bitcoin ETF approval outlined by a former SEC chair, price predictions including Bitcoin reaching $120K, the impact of NFT prices on ApeCoin, the use of AI in drug discovery and advanced visual effects, the growth of MATIC and Polygon, legal challenges and investigations in the crypto space, the benefits of BTC's energy usage, rebounding digital asset investments, and the criticism faced by Grayscale from the SEC.The Bitcoin network's computing power has reached a new high, strengthening the security of the world's largest cryptocurrency. Despite the stagnant prices, this increase in hash rate demonstrates the resilience and growth of Bitcoin. Speaking of cryptocurrencies, a survey by the Bank for International Settlements (BIS) highlights concerns over the widespread use of crypto and stablecoins, warning about potential threats to financial stability. Additionally, over twenty central banks are expected to launch their own digital currencies by the end of the decade.To address Bitcoin's slow transaction speeds and high costs, the Lightning Network has emerged as a scaling solution. It aims to provide faster and cheaper transactions, enhancing the usability of Bitcoin. In the gaming world, the creator of Stepn is developing a new social MMO called Gas Hero. Set in a dystopian world ravaged by nuclear war, Gas Hero brings players together in a captivating adventure.But let's take a step back and explore the fundamentals. What is hashing? Hashing plays a crucial role in maintaining the security of the Bitcoin network. It's a vital technology, but how does it actually work? Moving on, Bitcoin itself is seen as a currency, an asset, and a commodity, depending on the region and its regulations. This flexibility has contributed to Bitcoin's global adoption.In recent news, the Twitter account for the NFT project Gutter Cat Gang was hacked, resulting in the theft of NFTs worth around $750,000. Additionally, Arkham, a blockchain intelligence firm, is introducing an exchange where data on crypto wallet owners' identities can be traded. This move raises discussions around privacy and transparency within the cryptocurrency ecosystem.Turning to the world of gaming again, content creator and gamer Moe from 100 Thieves believes that blockchain games will eventually be embraced by livestreamers. As the industry evolves, it will be interesting to see how popular creators like xQc and Pokimane respond to this new wave of gaming experiences.Finally, let's talk numbers. Over the past three weeks, half a billion dollars has flowed into Bitcoin funds, indicating continued institutional bullishness. Additionally, the investment giant Vanguard now holds $560 million worth of Bitcoin mining stocks, signaling increased interest in the crypto mining sector.That's all for now. Stay tuned for more updates on the world of cryptocurrencies and blockchain technology.Hey there! Guess what? The $7.2 trillion asset manager has now invested a whopping half a billion dollars in Riot Blockchain and Marathon Digital shares. Talk about a big move!