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As we approach the end of 2024, the crypto asset market has demonstrated remarkable resilience and growth. Bitcoin's impressive +41,47% monthly gain, approaching €95.450, alongside Ethereum's exceptional +47,57% performance, reflects robust market momentum. This strength is further evidenced by unprecedented U.S. Bitcoin ETF inflows reaching $6,2 billion in November, while significant developments in the political landscape, including key appointments in the incoming administration, continue to shape the market's trajectory. Meanwhile, Europe faces its own challenges, particularly in France, where mounting fiscal pressures have led to market uncertainties reminiscent of the 2012 Eurozone crisis.

October 2024 continued the "Uptober" trend, marking the tenth out of the twelfth October month that closed with a positive gain for Bitcoin since 2013. The past month was particularly noteworthy as Bitcoin surpassed its all-time high (ATH) in euros. Subsequently, the Bitcoin price broke its ATH again this morning as a result of the US elections, with a record price of €70.130. Another significant development this month was the acquisition of Bridge, a payments platform built with stablecoins, by Stripe for $1,1 billion.

Since January 1st, the aggregate supply of stablecoins has surged by an impressive 30%. This substantial increase clearly demonstrates investors' strong preference for stability in volatile markets. Stablecoins have reached a record all-time high of $160 billion, unmistakably signalling the industry's robust and growing demand. The rapid development of Decentralised Finance (DeFi) is undoubtedly one of the key drivers of stablecoin adoption. Despite regulatory challenges and occasional market fluctuations, investor sentiment towards stablecoins remains unwaveringly strong.

On the 9th of September 2024, our CEO Jos Lazet was interviewed by

Blockrise continues to evolve to meet the needs of its clients. A highly requested feature was the ability to use multiple accounts in the app. We've now made this possible with our new update.

The market has entered a downward trend since reaching its historic peak in March. This development is not unexpected given the significant increase of 300% since early 2023. A notable shift compared to the situation in March is that long-term investors are now accumulating Bitcoins again, rather than selling them. This dynamic contributes to an increasingly positive market sentiment.

The active management of Bitcoin holdings by Mt. Gox, the German State of Saxony, and the U.S. government led to significant selling pressure over the past month. In addition, poor stock market performances in Asia and America have caused the crypto market to show deep red figures in recent days. The limited liquidity of cryptocurrencies continues to result in volatile market movements. With MiCAR, the new EU-wide crypto regulation, consumer protection will become part of the oversight. All European crypto companies are currently concerned about this new regulation, which will take effect on the 30th of December for crypto service providers. As of the 1st of July, MiCAR already applied to stablecoins, which now fall under supervision and must be licensed. The first MiCA-regulated stablecoin is offered by Circle, best known for USDC and EURC.

The Bitcoin price has experienced ongoing volatility since our previous market update, marked by several steep corrections. One of the causes might be the news surrounding Mt. Gox, as it was announced that the long-lost bitcoins will be distributed to rightful owners sometime this month. In 2014, Mt. Gox was the leading Bitcoin exchange with 70% of all Bitcoin volume. More selling pressure might come from Bitcoin miners, as the total Bitcoin supply held by miners shows a significant decrease.

Rotterdam, 30 May 2024 - The leading asset manager Blockrise today introduces its new website. This renewal is designed to increase accessibility for new Bitcoin investors and aligns seamlessly with the launch of an extensive education section on the website. This initiative underscores Blockrise's commitment to sharing accurate information about crypto assets and promoting the adoption of Bitcoin.

Last week, Arnhem Bitcoinstad celebrated its 10th anniversary with the event Adopting Bitcoin Arnhem. Enthusiastic Bitcoiners from all over the world came to Arnhem to celebrate this milestone. Blockrise was proudly involved as a sponsor, and CEO Jos Lazet was invited to speak.