ABCDE has announced that it will host Bitcoin Day on April 5th at the St. Regis Hotel in Hong Kong, in collaboration with Cointime and SINOHOPE Technology (1611.hk). ABCDE has invested in numerous star Bitcoin ecosystem projects such as Merlin Chain, Babylon, Polyhedra, Unisat, B^2 network, Bitlayer, Bitsmiley, DLC.link, and more. The event will gather over 1000 participants, inviting top developers from Asia and around the world in the Bitcoin ecosystem, frontline investors, and representatives of regulatory bodies to discuss the expansion of the Bitcoin ecosystem, layer-2 ecosystems, composability, and decentralization. This is in anticipation of Bitcoin's halving in April, aiming to promote the prosperous development of the Bitcoin ecosystem together.

On March 1st, it was reported by the Financial Times that the price of Bitcoin had reached a new record high in relation to many currencies. The approval of a Bitcoin exchange-traded fund in the United States fueled the market's enthusiasm. The expectation of a reduction in Bitcoin mining output at the end of April intensified the market's frenzy. The increase in demand from buyers expecting the next halving explains why the cryptocurrency bull market is now happily predicting that Bitcoin's price will soon exceed $100,000.

ABCDE announced that it will hold Bitcoin Day at the Regal Hotel in Hong Kong on April 5th, co-hosted by Nova Technology (1611.hk). ABCDE has invested in Bitcoin ecological projects such as Merlin Chain, Babylon, Polyhedra, Unisat, B^2 network, Bitlayer, Bitsmiley, DLC.link, etc. At that time, more than 1,000 participants will be gathered, inviting Bitcoin ecological developers, investors, and regulatory agencies from Asia and around the world to discuss the expansion, second-layer ecology, composability, and decentralization of the Bitcoin ecology, and to welcome the arrival of Bitcoin's halving in April, jointly promote the prosperity and development of the Bitcoin ecology.

Data shows that the current block height is less than 50 days away from the next Bitcoin halving event. As every 210,000 blocks, there will be a halving event, the next one is expected to occur when the block height reaches 840,000 in April 2024. At that time, the block reward will be reduced from 6.25 BTC to 3.125 BTC.

Despite the Chinese government's strict ban on cryptocurrency activities, the recent surge in the value of Bitcoin has captured the attention of internet users in mainland China. Bitcoin's popularity has soared on major Chinese social media platforms, with Weibo ranking it as the 11th most-searched term at one point. The surge in interest follows a 676% increase in Bitcoin's popularity on WeChat on February 13, coinciding with its milestone of surpassing the $60,000 mark for the first time in over two years. The recent momentum in Bitcoin's value can be attributed in part to the introduction of Spot Bitcoin ETFs in the U.S. in January.

As we discussed in Entering the Bitcoin Renaissance, our last edition, Lightning Labs CEO and Co-Founder Elizabeth Stark told The Block, “a major narrative of the next cycle will be the bitcoin renaissance, and it has already begun in full swing.” Only a few months later, and that is proving to be quite prescient!

Google Trends data showed that the search popularity for the keyword "bitcoin" from February 18th to 24th, 2024 was 22, which is still low compared to May 2021 (popularity was 100).

Matrixport co-founder Daniel Yan posted on social media that the current market sentiment has reached a level that should be treated with caution. By the end of April, there may be a healthy downward adjustment of about 15%, with specific adjustments possibly appearing in March. From a macroeconomic perspective, March is already a tricky month (due to the Federal Reserve meeting and BTFP). With the upcoming upgrade of the Dencun mainnet and the Bitcoin halving, the market in March may be weak. It is still unknown where the adjustment will start (whether the new high or the adjustment will come first), but long-term holders need not worry.

According to data compiled by Cointelegraph, as the price of Bitcoin reaches a new high in nearly two years, in the past few days, the prices of Bitcoin against the Japanese yen, Malaysian ringgit, Indian rupee, New Taiwan dollar, South Korean won, Chilean peso, Australian dollar, Chinese yuan, South African rand, Norwegian krone, and Turkish lira have all reached historic highs.

SkyBridge founder Anthony Scaramucci stated that Bitcoin can definitely "replace or coexist" with gold as a store of value.