• The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin
• Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen
• When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 Bitcoin halving events

Donald Trump’s re-election into the White House isn’t “the main story” for Bitcoin’s recent price rally, says Onramp Bitcoin’s co-founder.

In a post on X, Jesse Myers said the main reason is that the market is at the “6+ months post-halving” mark.

Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward.

A reduction in Bitcoin supply typically means an increase in the price of Bitcoin. The next Bitcoin halving is expected to occur sometime in 2028.

According to Myers, a “supply shock has accumulated,” meaning “there’s not enough supply available at current prices to satisfy demand,” adding that a “supply-demand price equilibrium must be restored.”

However, the only way Myers believes this will happen “is for the price to go higher, which will flywheel into mania and a bubble, but that’s how this thing works.”

Post-halving bubbles

Supplying a chart, Myers indicated that the market is currently at the start of the post-halving bubble. Based on his data, Bitcoin’s price will continue its upward trajectory before peaking to new highs and dropping to current levels.

“It sounds crazy to say there will be a reliable, predictable bubble every 4 years,” said Myers. “But then, there’s never been an asset in the world where new supply creation is halved every 4 years.”

Post-halving bubbles happened in the 2012, 2016, and 2020 Bitcoin halvings, said Myers.

The recent Bitcoin price rally comes amid Trump’s re-election into the White House. Based on his campaign trail in the lead-up to election day, Trump came across as pro-crypto compared to current Vice President Kamala Harris.

Last week, Senator Cynthia Lummis also reaffirmed plans that the US is going to build a strategic Bitcoin reserve. If passed, the senator’s Bitcoin Act would propose directing the US Treasury to buy one million over the next five years.

Irish-American financial technology company Stripe announced the launch of a Stripe-hosted fiat-to-crypto onramp. This solution will enhance the easy purchase of cryptocurrencies for customers in the United States. Also, it is a breakthrough for Web 3.0 companies that have been having a cold start problem. 

Ordinarily, Stripe is designed to facilitate fiat acceptance globally for crypto-related companies and in turn, help them expand their offerings. It goes as far as accepting stablecoin like USDC for simple payouts. Hence, the rampant adoption of the company’s product by any crypto organization.

With Stripe products, crypto firms can operate a streamlined onboarding process and reduce their exposure to fraud.

Today Stripe launched a crypto onramp.

This is low-key a HUGE deal.

I’ve spoken with several Fortune 500s who have fully built crypto strategies but haven’t launched yet because they don’t have a trusted brand to handle the onramp and the wallet.

Stripe just solved the onramp. pic.twitter.com/hPst39VkA5

— Yano (@JasonYanowitz) May 5, 2023

Fintech Companies Seek to Outdo Crypto Exchanges

Stripe is joining the competition with other fintech giants like MoonPay, Transak, and Simplex which allows you to purchase cryptocurrencies exactly when you need them.

Web 3.0 users can decide to buy Ethereum (ETH) for an immediate purchase of a Non-fungible token (NFT) without any delay. This is entirely different from what is obtainable on various crypto exchanges that only permit the external transfer of crypto after several working days. 

Most times, these digital asset service providers wait for the deposit to clear, especially when one is using a linked banking method. Henceforth Web 3.0 companies have the option of either redirecting their users to purchase crypto on the Stripe-hosted onramp or customising their crypto-purchasing widget on their official website. The second option, which is sort of an embedded on-ramp, was announced in December 2022.

If Web 3.0 companies decide to redirect their users to crypto.link.com, no code will be required but the embedded on-ramp requires 10 lines of code. James Mudgett, vice president of Web3.0 products at Brave said “We’re thrilled to partner with Stripe as they expand their offerings in the crypto space. We’re excited to offer a fiat payment solution that will allow us to reach new Web3 users.”

Fintech companies are gradually making a strategic impact in the crypto space. A few days ago, digital bank Revolut expanded its service to Brazil marking its first foray to the Latin America region. PayPal also recently introduced a new feature which allows users to transfer crypto between the platform and other wallets.

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

• Alchemy Pay’s Fiat Onramp solution will be integrated into Pear.

• ACH is up by more than 6% today, outperforming the broader crypto market.

• The total crypto market cap remains above $800 billion.

Alchemy Pay to integrate with Pear

The Alchemy Pay team announced a few hours ago that its Fiat Onramp Solution would be integrated into Pear, a non-custodial marketplace governed by DAO.

#AlchemyPay Fiat Onramp Solution will be integrated into @OfficialPearDAO in the near future!

With this collaboration, PearDAO’s users can pay with their preferred fiat payment methods directly to buy #cryptocurrencies and #NFTs.$ACH pic.twitter.com/VxMpAFvf5M

— Alchemy Pay: Fiat-Crypto Payment Gateway (@AlchemyPay) December 26, 2022

This latest cryptocurrency news means that PearDAO’s users can pay with their preferred fiat payment methods directly to buy cryptocurrencies and NFTs. 

ACH, the native token of Alchemy Pay, is now up by more than 6% in the last 24 hours, outperforming the broader market. The total crypto market cap remains at around $810 billion, down by less than 1% so far today.

Bitcoin, the world’s leading cryptocurrency by market cap, is also up by less than 1% today. At press time, the price of Bitcoin stands at $16,852 and could break past the $17k resistance level soon.

Key levels to watch

The ACH/USD 4-hour chart is bullish, as Alchemy Pay has been performing well over the past few days. The technical indicators show that ACH could rally higher soon.

The MACD line is above the neutral zone, indicating that the bulls are currently in charge of the ACH market. The 14-day relative strength index of 64 also shows that ACH could enter the overbought region if the rally continues.

At press time, ACH is trading at $0.008435. If the rally continues, ACH could rally toward the $0.009313 resistance level in the near term.

However, it would need the support of the broader cryptocurrency market before it reaches the $0.010385 level it attained earlier this month. 

Where to buy Alchemy Pay now

Uphold

Uphold is a platform which has over 50 cryptocurrencies to choose from.

It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.

Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.

Buy ACH with Uphold today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy ACH with Swapzone today

US-based financial services company, Visa has announced a partnership with blockchain technology company ConsenSys to develop a module designed to help central banks and financial institutions build user-friendly services on top of central bank digital currency (CBDC) networks, Visa mentioned in its recent blog. 

Meanwhile, in the crypto world, prices of mainstream and meme coins are green in the last 24 hours, data of coinmarketcap.com showed. The price of Bitcoin (BTC) was up by 1.50 per cent and was trading at $43,760.94 in the last 24 hours. Bitcoin dominance in the global crypto market was 39.84 per cent, down by 0.15 per cent in the last 24 hours.

Ethereum’s (ETH) price rise by 1.71 per cent in the last 24 hours, and it was trading at $3,358.11. Binance Coin (BNB) was in the green, up by 2.18 per cent; it was trading at $482.35. Among other major coins, Solana (SOL) was up by 6.13 per cent to $152.17, while Cardano (ADA) was up by 2.99 per cent to $1.29.

Meme Coins  

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) have shown a rise in the last 24 hours.

On January 13, Dogecoin’s price was $0.1711 up by 9.47 per cent in the last 24 hours. Rival Shiba Inu was up by 9.73 per cent and was trading at $0.00003187, Dogelon Mars (ELON) was up by 4.23 per cent and was trading at $0.000001345, while Samoyedcoin (SAMO) was trading at $0.0309 and recorded a rise of 2.58 per cent.

Overall Scenario

The global crypto market capitalisation of cryptocurrencies crossed $2.08 trillion and was up by 1.65 per cent over the last day. Moreover, the total crypto market volume was $116.48 billion, up 26.99 per cent over the same period of time.

SpongeBob Square (SPONGS) became the biggest gainer, recording a rise of 2759.63 per cent; it was trading at $0.0000000006832 at 6:00 pm IST. On the other hand, ENV Finance (ENV) witnessed maximum loss, falling 98.62 per cent; it was trading at $0.0006653.

Latest Update 

Torus Kling Blockchain IFSC, backed by former Reliance Capital CEO Sam Ghosh, announced on Thursday that it will establish India’s first cryptocurrency exchange-traded fund (ETF) by the end of the current financial year, Business Standard reported, adding it aims to clock $1 billion of assets under management (AUM) within two years and will also track large-cap metaverse stocks in US and Europe markets.