beehiiv-import

📈January Recap: Bitcoin Is Dead, Long Live Bitcoin🚀

Croxroad

05 Feb 2023 — 4 min read

Hello!This is Crox Road. Get ready to hit it out of the park with our daily bitcoin newsletter. We'll provide you with the best of the best in the bitcoin world, so you can be as successful as Barry Bonds without the need for steroids.

Here’s what we got for you today:

BITCOIN IS DEAD, LONG LIVE BITCOIN

After a difficult 2022, Bitcoin (BTC) has started 2023 off on a strong note. The world's largest cryptocurrency has already seen a 40% increase this month, making it the best January in a decade since 2013. This month alone has added $280 billion to the entire crypto market. Notable coins like Bitcoin has seen a 40% increase. The recent surge in the crypto market is due to expectations of slow interest rate hikes by the Fed, as well as cooling high inflation. This month's rally is a sign that the cryptocurrency market is recovering from the collapse of the crypto exchange FTX and other crypto lenders like Genesis.

Will Bitcoin rebound last?

Bitcoin, the world's largest cryptocurrency, has had a strong relationship with tech stocks. The recent surge in BTC's price is also due to the recent bounce in the tech space. Some analysts have warned that the rate hikes in the market could stay longer than expected. Last week, Bank of America Corp. strategists led by Michael Hartnett said that the comeback in Bitcoin and other speculative assets could reverse if wages, oil, and consumer prices increase, shifting the narrative of a possible "soft-landing". Fed Chair Jerome Powell has also hinted that the rates could remain elevated for a while. On the other hand, optimists are betting on the current momentum and expect Bitcoin to reach $25,000 in this ongoing rally.

Let’s see what happens, meanwhile #stack and #hodl

THE RISE OF BITCOIN IN THE CLASSROOM

Introducing Bitcoin education to elementary schools has many advantages. It opens up the world of finance and technology to children, giving them access to new and exciting opportunities. It also teaches children the fundamentals of financial literacy, helping them learn how to manage their money and make wise financial decisions. Additionally, it helps children understand the value of money, how it can be saved, invested, and used to buy goods and services. Bitcoin education in elementary schools also prepares children for the future, equipping them with the knowledge and skills they need to succeed in a rapidly changing world.

Read The Whole Article HERE

LUGANO: THE CITY OF BITCOIN

The only thing preventing Bitcoin from reaching its full potential is its lack of use in everyday purchases. Sure, you can look at your wallet on a screen, but that's about it. In most places, you can't use it to pay for groceries, haircuts, or a Big Mac. For most people, Bitcoin is not a viable alternative to fiat currency. However, Lugano, Switzerland is not like most places. Four months ago, the mayor of the city launched a project called "Plan ₿" with the goal of making Bitcoin and crypto payments available everywhere, from coffee shops to McDonald's to fondue restaurants. Fast forward to today, and the Lugano Bitcoin Heat Map looks like this...

These are all McDonald's and other businesses that accept Bitcoin payments. On top of that, people can also get a 10% cashback reward in LVGA (Lugano's native stablecoin) when using crypto at these places. In other words, you can essentially live off crypto in Lugano. The mayor even released a video where he paid for his morning coffee, fade & beard trim, and a new book using Bitcoin. Talk about a flex. It's an interesting experiment, but it will be interesting to see how sustainable it is. Historically, Bitcoin has had a price more volatile than a teenager's mood swings, making it a risky choice for vendors to accept as payment. However, with the recent trend of (relatively) flat prices, we could see more places following Lugano's lead. It's a cool glimpse into what the future could look like.