Silk Road Creator Ross Ulbricht Is Officially a Free Man After Being Granted a Full Pardon by President #TRUMP
For those in the know, Silk Road was more than a marketplace, it was the first decentralized platform powered by Bitcoin, a revolutionary use case for the #cryptocurreny .
But let’s be honest: It didn’t take long for the platform to become infamous, hosting everything from drug trafficking to other illegal exchanges, putting #bitcoin in the spotlight for both innovation and controversy.
Ross’s story has always been polarizing. To some, like us, I suppose, he’s a pioneer of decentralization, pushing the boundaries of freedom. To others, he’s a criminal who ignored the consequences of his creation.
His life sentence in 2015 sparked intense debates about justice, the role of cryptocurrencies, and the fine line between freedom and responsibility.
This pardon is more than a second chance for Ross, it’s a pivotal moment for the cryptocurrency world to reflect on his journey and its future.
Exactly 1064 days after its all-time low (ATL), Bitcoin reached an all-time high (ATH).
Then, 364 days after that ATH, it returned to a new all-time low (ATL).
This cycle has been repeating since 2015!!
Based on this pattern, we could expect the next peak in October 2025.
However, it is entirely possible that it could come earlier. Historically, summer months tend to be difficult for #Cryptocurrencies 📉, so we could see some difficulties around May/June.
The data shown is for informational purposes only. Market conditions are volatile and can change rapidly. The information provided is not a guarantee of future performance.
#Bitcoin close to the third target reported in the previous analyses, the very positive data is that if that level had been reached around December 5, it would have become a strong resistance, while since the price is well ahead of its time, it has at this point the possibility of going even further. It must be said that such a vertical climb is unsustainable and the correction, when it will come, will be proportional with a violent reversal that can also arrive without warning, in these conditions it therefore becomes very difficult to hit the exact point on which to exit and liquidate the positions.
Be careful not to get carried away by easy enthusiasm for a #altseason2024 start, because the #Dominance of #Bitcoin came down ahead of schedule, so we can expect an upward recovery in the next few days.
Here are the most important ones. Before moving on to dates, projects and quantities of tokens unlocked, it will be useful to make an introduction. Unlocked tokens do not always end up on the market and therefore do not always have a negative effect on the price of the projects involved. The list we provide you here is not one that should cause panic. This is additional information that you will need to keep in mind for your next operations.
Immutable X: 32.5 million tokens – July 12th
On July 12th there will be an unlocking of $IMX tokens worth 2.5% of the total circulating supply of this token. It is a relatively important sum for a protocol which is however rather liquid and which is awaiting, among other things, the arrival of interesting games which could increase its perceived usefulness.
Aptos, 11.3 million tokens – July 12th
It will be an intense July 12th in terms of unlocks. Even Aptos, a layer 1 project of some importance on the market, will have an unlock that will be worth approximately 2.49% of the circulating capital.
Starknet, 64 million tokens – July 15th
Starknet $STKR will have an unlock that is perhaps the most relevant of this month at least in proportion to the total in circulation. In fact, approximately 64 million tokens will end up being unlocked, worth 4.9% of the circulating mass.
Arbitrum, 92.6 million tokens – July 16
Another significant project in terms of capitalization and investor interest. On July 16th Arbitrum will unlock another 92.6 million tokens, which means just under 3% of the total circulation.
Memes and posts comparing the 2020 halving to the 2024 halving, often with ironic images or phrases like "when you order it from Wish, when it arrives at your home" or "it's over for this cycle", create an atmosphere of pessimism and disillusionment in the cryptocurrency market.
But is this pessimism really justified?
Analyzing the data, a different reality emerges:
* Today we are -16% from the absolute maximum and -10% from the maximum of the last cycle.
* In the same period of 2020, we were -33% from the local maximum (June 2019) and -56% from the previous cycle high.
In other words, the current situation is much better than 2020
It is important to remember that halving is a gradual process that slowly erodes selling pressure and needs time to take effect.
Memes and sensationalist posts tend to distort reality and create unjustified panic among investors. It is essential to maintain a long-term view and not be influenced by temporary market fluctuations.
Instead of focusing on negative memes, it is more useful to analyze data and charts to better understand market trends and make informed investment decisions.
Let us remember that the cryptocurrency market is still young and constantly evolving, with periods of growth and periods of stagnation. Patience and analytical skills are key to successfully navigating this landscape.