In recent times, BNB, Solana, Cardano have experienced extreme price swings. So, what about Bitcoin cs?
As is known, until 2022, Bitcoin, crypto asset, and Non-Fungible Token (NFT) have various beginnings. In this regard, the Bitcoin price made one of its worst starts to the last new year.
Nonetheless, the Non-Fungible Token market has grown from strength and power as the OpenSea market generated nearly US$2.7 billion in volume since January 1, 2022 and is on track for the highest volume month ever.
Ethereum and its biggest rivals, namely BNB, Solana, Cardano Binance, are fighting alongside Bitcoin. Therefore, Bitcoin is predicted to have a big week and prepared for it.
North American Bitcoin Conference: BNB, Solana, Cardano
After the investment giant issued its shocking Bitcoin predictions, crypto asset and NFT are currently gearing up for some of the biggest names in crypto to come together for the North American Bitcoin Conference. Here, billionaire investor Mark Cuban will join the crypto-friendly Mayor of Miami, Francis Suarez, on stage.
Running over three days, the North American Bitcoin Conference held in Miami is one of the largest Bitcoin conferences in the world. The event will feature crypto entrepreneurs, investors, and influencers discussing the latest blockchain technology, trends, and market opportunities.
As is well known, last year, the country of El Salvador set the bar high for Bitcoin conference announcements when they revealed plans to become the first country in the world to make bitcoin legal tender in Bitcoin 2021 last June.
“I was just going to see if there was anything new,” Cuban said, who also owns the NBA Dallas Mavericks and celebrity investor who recently launched the NFT website, in an email.
The big announcement was: “I didn’t expect fireworks.”
Cuban itself has “clashed” with several bitcoin and crypto communities in recent years. His famous saying a few years ago was that he “would rather eat bananas than bitcoins.”
However, the man who owns a number of expensive NFTs has embraced decentralized finance (DeFi) looking to recreate traditional financial services using crypto technology instead of banks, and collectible NFTs, which are increasingly being used by sports teams and gaming companies as new revenue streams.
So far this year, the OpenSea NFT marketplace has generated nearly US$2.7 billion in volume driven in large part by rising prices in the hugely popular NFT Bored Ape Yacht Club collection.
That volume is now steadily climbing to surpass the $3.4 billion mark reached in August, according to data cited by Dune Analysis.
BNB, Solana, Cardano—Miami Wants To Be First
For information, other big names at the North American Bitcoin Conference include billionaire founder of blockchain technology company Bloq, Matthew Roszak, Peter Smith, chief executive of Blockchain.com, and Craig Sellars, co-founder of controversial stablecoin Tether.
Miami Mayor Francis Suarez, who will also be speaking at the event, stated that he wanted to make the city the first in America to “give bitcoin proceeds as a direct dividend to its residents” and hoped to “one day manage the city tax-free”.
“We’re excited to see what industry-disrupting technology launches this year,” said Moe Levin, organizer of the North American Bitcoin Conference, in a statement.
Entering the conference, however, bitcoin and crypto market sentiment remained relatively low, with the market still reeling after a price crash that wiped around $1 trillion off the crypto market combined in just two months.
“The first two weeks of the year were not the best for bitcoin and the entire crypto market,” said Lukas Enzersdorfer-Konrad, Chief Product Officer at Vienna-based trading platform Bitpanda, in an email.
However, he added, “It’s too early to call it a bear market at first.”
According to the Crypto Fear and Greed Index, he continued, market sentiment is in a state of extreme fear and is at its lowest since July 2021. A 40% correction is not unusual and it is not the largest it has seen in previous years or last 12 months.
“Remember that bitcoin fell by more than 50% from April to June last year and fully recovered from its losses in October,” he concluded.