Bitcoin’s halving was successful. What to do? Historical data predicts rises in the months following the event, so why set up a recurring buy now?
What should we do now that Bitcoin’s halving has happened? After the rewards for miners have halved, many wonder what will happen to cryptocurrency’s price.
Historically, this event has established a market cycle that seems to repeat itself at similar intervals. Where do we stand now? Could the recent cryptocurrency retracement be an opportunity to buy Bitcoin at a lower price?
Halving Bitcoin, what to do: analysis of the BTC price in 2024
For the price of Bitcoin, 2024 has been an interesting year. At the beginning of the year, BTC was in the $40,000 price range, while today, it orbits around $56,000 after the crypto recorded a new all-time high at $73,000 in March. Just comparing historical data might be the right way to get an idea of its future price targets.
In the days following the 2020 halving, which occurred on 11 May of that year, Bitcoin’s price was in the $8,000 zone. In January 2021, it broke to its current all-time high at $20,000, while less than 12 months after the event, it recorded a new one at $64,000.
The main difference from that market cycle concerns the new all-time high. Bitcoin recorded a new all-time high about a month before the important event.
If you have been with us in the crypto market for a few years, you may remember that BTC rose in a similar move during the bear market of 2018-2019. At that time, the rise was 100%, but then it quickly subsided. Due to the market shake-up over the last few weeks, we are again below the ATH, but given Bitcoin’s performance during 2024, we might reach it again soon!
Looking at Bitcoin’s past bear market performance, we can see that after the bottom, the crypto took some time to recover. Indeed, it has been “water under the bridge” since November 2022, the month in which Bitcoin hit the low point at $15,000. Should it move as it has in the past, that area of the chart will never be reached again.
Still referring to past movements, buying Bitcoin regularly over the next few months could bring great satisfaction. Indeed, one could put the crypto aside at bargain prices, waiting for the explosion that usually occurs a few months after halving.
Of course, one cannot look at the past to predict the future, but knowing historical data is indispensable for making decisions.
What to do? Focus on recurring purchase
What could stimulate the price rise? In the past, Bitcoin’s halving has jump-started crypto. In fact, the halving of rewards has always been the starting point of a new bullish cycle.
Contrary to what one might think, these price movements and the consequent reaching of new all-time highs never occur suddenly. Above all, the initial phases are usually very slow and gradual and become more explosive after new highs are reached.
It must also be said that the experts’ forecasts for BTC at the end of 2024 are decidedly optimistic: according to Standard Chartered analyst Geoff Kendrick, the price of Bitcoin, after halving, will easily touch $100,000. For TechDev, the outlook is at $160,000.
Setting up a recurring purchase in pre-halving Bitcoin only takes a few minutes. Go to the Piggy Bank section of the Young Platform app, choose the amount and frequency you want and start saving your cryptos by taking advantage of the bear market!
*The information in this article is for educational purposes and is not an incentive to invest. It is based on historical and objective Bitcoin market data, and the charts do not represent future predictions. The performance of any cryptocurrency portfolio is always subject to market conditions and volatility.
Bitcoin halving: here’s the history and dates to keep in mind. When did they occur, and what happened to Bitcoin issues?
There have been three halvings of Bitcoin in history so far, and the dates of each have always been closely monitored. This mechanism, internal to the system, regulates the gradual decrease in rewards given to miners who validate blocks. It reduces crypto in circulation and thus maintains scarcity, and it is one of the most anticipated moments for the entire crypto market.
In this article, we will look at the history of Bitcoin’s halving by specifying the dates on which these halvings occurred and try to understand their effect on the price. So far, during the halving market cycles, Bitcoin’s price growth has been more than exponential.
You will find a complete guide to the upcoming 2024 Bitcoin halving at the following link.
Halving of 2012
The first Bitcoin halving in history took place on 28 November 2012. This event marked a crucial turning point for the crypto world, as this mechanism was activated for the first time.
In the months that immediately followed, the price of BTC was not positively affected by the event. However, from the beginning of 2013 onwards, the value of the crypto began to rise steadily, reaching a high of over $1,100 in April. This figure, which seems derisory to this day, was impossible to predict at the time and was reached from the $8 level, thanks to a bullish movement of 12,000%.
Date: 28/11/2012
Block number: 210,000
Rewards per block: 25 BTC
Price: $12
Price one year later: $964
Halving of 2016
The second halving in Bitcoin’s history took place on 9 July 2016. Because of BTC’s incredible performance in the months following the first halving, many expected the price to rise, which indeed came in May of that year. A few days before, the rewards for miners halved. However, the value plummeted from $750 to $450. In the following months, digital gold literally exploded to the upside, its value orbiting around the $20,000 mark a year and a half later.
Date: 09/07/2016
Block number: 420,000
Rewards per block: 12.5 BTC
Price: $663
Price one year later: $2550
The halving of 2020
The pandemic’s start strongly influenced Bitcoin’s price action at the third halving in history (May 2020). After the disastrous performance in 2018, Bitcoin’s price returned strongly in early 2019. However, the arrival of Covid-19 also strongly influenced digital gold, which lost more than 60% of its value from January to April.
After touching the low point on 20 April 2020, it resumed strongly, using the following month’s halving as a ‘launching pad’. The bullish market cycle of the third halving in history culminated in the current ATH at $69,000.
Date: 11/05/2020
Block number: 630,000
Rewards per block: 6.25 BTC
Price: $8,740
Price one year later: $58,000
Want to prepare for the next halving coming? Consider accumulating some Satoshi through recurring buying. That way, you won’t suffer too much from market volatility.
Now that the halving of 2024 is behind us, one might wonder whether this event will make history in the crypto sector as it has in the past. It has to be said that Bitcoin and the entire cryptocurrency sector are very different from when its predecessors took place. By now, BTC has become a recognised asset even by institutional investors, especially after the approval of spot ETFs issued by large US funds.
Therefore, it can be useful to compare it with other assets to try and predict how it will behave. For instance, there are those who see BTC as the digital store of value par excellence and, therefore, believe that its price can grow tremendously. Today, the market capitalisation of gold (the most important physical store of value) is twelve times larger than that of BTC.
Some instead think that crypto will become the native currency of the Internet. According to the scenario, there is still a lot of room for expansion of this market; the adoption of Bitcoin is still very limited compared to that of the network.
In short, from a historical perspective, the halving of Bitcoin has always positively influenced prices. Of course, one cannot say that the bullish phases of the past were caused solely by these events, but they certainly contributed to a positive narrative.
Starting today, you can purchase a new crypto on Young Platform Pro: find out all the information about Bittensor (TAO)!
From now on, you can buy and sell Bittensor (TAO) on Young Platform! A blockchain protocol dedicated to artificial intelligence models. Deposits and withdrawals are not available for this cryptocurrency. For more information, read our Terms and Conditions.
Bittensor (TAO): what do you need to know?
Bittensor (TAO) aims to decentralize and democratize access to artificial intelligence. This protocol enables collaborative, decentralized AI models and thus aims to overcome the limitations of centralized ones. The active consensus mechanism on this network is managed by a Proof-of-Intelligence algorithm composed of nodes that evaluate each other’s contributions according to utility and quality standards.
How to use TAO on Young Platform Pro
Here are all the features available for Bittensor (TAO) on Young Platform Pro:
Buying and selling with USDT
What are you waiting for? Access the app or the web version of Young Platform to purchase this innovative cryptocurrency! Attention! Bittensor (TAO) can only be bought and sold but not withdrawn or deposited to and from Young Platform.
Comprehensive guide to 2024 tax return services, including tax report preparation, accountant advice, and third-party exchange, wallet, and blockchain integration to regularise your position from 2016.
One of the leading causes of ‘headaches’ for cryptocurrency enthusiasts is tax returns. This is not because crypto enthusiasts want to behave non-compliantly with current regulations but precisely because of their complexity, which often needs to be clarified.
Moreover, experienced users who navigate this universe in depth are used to making a large number of transactions that then become very difficult to trace and reconstruct. Using different exchanges, DeFi platforms, Metamask or collecting NFTs complicates things further.
Last year, to remedy this problem, we launched the Tax Report, which was well received by our community. The aim was to ‘simplify life’ for our users and make declaring cryptocurrencies a breeze.
However, the Italian Budget Law 2023 and the Agenzia delle Entrate have changed the game for the 2024 tax declaration. The changes introduced concern many aspects, including revising the 730, Form RW and Form RT.
Therefore, we have created a new section on our platform dedicated to the tax declaration of cryptocurrencies. The initiative is aimed at Young Platform users and anyone wishing to use a comprehensive service to declare their cryptocurrencies without spending a fortune.
Let’s discover together all the services of the new Tax & Reports functionality:
the Young Platform Tax Report updated for the 2024 declaration
The Tax Report Integrated with Okipo (exchange, wallet and third blockchain)
the Young Platform Transaction Report
Stamp duty
the consultancy service with our accountants.
Finally, we will look at the discounts provided for our Clubs!
Keep these essential aspects in mind:
All reports include data from both exchanges, Base and Pro.
The “Tax & Reports” section is available from the Young Platform web (desktop) version. It will be integrated into the app in the coming weeks.
Those who have already purchased the Tax Report during the pre-sale can now download it!
Please note: the Tax Reports (both Young Platform report and Okipo) have been created to comply with Italian tax regulations. Therefore, purchasing the Tax Report still needs to be enabled for other countries. If you are a tax resident in Italy, access Young Platform by setting the language to Italian to purchase the Tax Report. If you cannot do so, please open a support ticket.
If you only use Young Platform – either Basic or Pro – this is the service for you. By purchasing this report, you can download a handy PDF with a clear and straightforward outline of everything you own in cryptocurrencies and the data you need to complete your tax return.
In addition, to help you with the compilation, you will see a facsimile of Form RW and Form RT attached. The former must be filled in for stamp duty, and the latter if you have generated gains in 2023 that exceed EUR 2,000. If, on the other hand, you have suffered any losses, you can recover them over the next four years by entering them in Form RT.
The main advantage of this report lies in the price. Let’s see why.
First of all, the Tax Report is retroactive. If you started buying cryptocurrencies on Young Platform in 2019, your PDF includes an overview of your portfolio for tax reporting from 2019 to the present. Unlike other exchanges or services, you pay a single report to regularise your tax position from the first year you invest in cryptocurrencies.
Secondly, the price is calculated on the number of transactions made. As a result, you get a fully customised pricing plan and only pay for your actual activity level. Suffice it to say that the basic plan costs €9.99.
This policy responds to an elementary desire: to allow all our users to comply with their tax obligations and take advantage of this market with peace of mind without affecting their budget.
This integration was made for Young Platform users who use other exchanges, own NFTs, have cryptocurrencies in DeFi platforms, or simply store their crypto assets in wallets outside of Young Platform.
Due to its flexibility, it is also ideal for those who do not use Young Platform as an exchange but are looking for a cost-competitive solution. For these, simply register and access the ‘Fees and Reports’ section.
Thanks to the cooperation between our company and Okipo, we can offer a unique retroactive report and a discounted pricing plan on their price list, which costs €229 per fiscal year. Young Platform users will be entitled to discounted prices as follows.
PLEASE NOTE: To obtain this benefit, you must use the Okipo service from the Young Platform ‘Tax and Reports’ section.
For Young Platform users who are not members of a Club, the Okipo Report has a total cost of €59 (instead of €229 per fiscal year).
Club Bronze: €54 (instead of €229 per fiscal year).
Club Silver: €49 (instead of €229 per fiscal year).
Club Gold: €44 (instead of €229 per fiscal year).
Platinum Club: €39 (instead of €229 per fiscal year).
Thanks to this collaboration, you will also have access to these benefits:
Full annual coverage*: unlike other services that require payment for each fiscal year, our price includes coverage of all transactions made since you started using cryptocurrencies.
Priority support: as a Young Platform user, you are entitled to priority customer service.
*If the number of transactions exceeds 10,000 per year, it will be necessary to request the addition of a further 10,000 transactions for each year in which the limit was exceeded.
How does it work?
Okipo allows you to integrate all wallets, exchanges and blockchains to import all transactions from 2016 to date.
Through a highly intuitive system, users can connect their crypto wallets and exchanges via CSV files, with detailed guides available to facilitate each type of connection.
At this point, Okipo imports all transactions automatically, eliminating the need for manual entries and significantly reducing the time spent on tax management. Upon completing the import, users can easily download all necessary tax documentation from 2016 to date, already compiled and ready to be submitted to the tax authorities.
If you are not a Young Platform user and need more information, you can fill out this form to be contacted by our team, who will help you find the best solution.
The Young Platform Transaction Report records every movement and order made on the platform. This document, which is always available for download in the Fees & Reports section, acts as an accurate statement of account, providing a detailed overview of activity on the exchange. It allows you to track, export and archive your entire transaction history, including deposits, withdrawals and buy, sell and exchange order details. Although it does not directly provide the data required for tax returns, the report is an excellent complementary tool for documenting your activities. It offers a clear and organised view that facilitates the reconstruction and detailed analysis of all transactions.
Italian legislation introduced several new features, one of which is the 0.2% tax, also known as ‘Stamp Duty’. This tax is linked to completing the RW Form.
Many Young Platform users have the advantage of already paying for it. The exchange automatically calculates and pays tax on what you own on the Base and Pro exchanges. Simply go to the ‘Tax and Reports’ section to check your balance. If you must pay all or part of the tax, simply deposit Euro in your account by bank transfer or card.
It is essential to download the payment receipt and attach it to your tax declaration. You can download it from the section free of charge. Please note that other exchanges have introduced this policy to simplify user tax compliance. Therefore, if you use several exchanges, check that they still need to pay the tax for you. In this case, download the payment receipt and attach it to your declaration.
Club members enjoy fixed discounts when purchasing the Young Platform Tax Report. Here is an overview of the discounts:
Club Bronze: 10%.
Club Silver: 20%.
Club Gold: 40%.
Club Platinum: 80%.
Discounts are applied in the purchase phase for the report integrated with Okipo and are visible on the partner interface. On the screen, a banner indicates the activation of the discount relative to the Club membership.
Club Bronze: €54
Club Silver: €49
Club Gold: €44
Platinum Club: €39
We want to draw attention to the fact that these discounts are only applied to the purchase of reports rather than to consulting with accountants.
Consulting with accountants experienced in cryptocurrencies
Many people may have a challenging situation or, more simply, feel more secure if an accountant familiar with crypto regulations is in charge of them. You can request an appointment through the dedicated banner. Please note that our accountants’ network has its own pricing plan, which they will inform you about according to your situation. Again, the price will be set according to your specific situation so that you pay in full for what you really need.
The first quarter of 2024 for the YNG token has been eventful. Let’s review what happened and what steps we should take next.
What Happened in the Last Quarter? What were the achievements in Q1 2024? How many tokens were issued, purchased, and sold, and what are the next steps? You can find a comprehensive overview in this report drafted in April 2024.
Young Platform Club Numbers for Q1 2024
YNG is the utility token of Young Platform and provides access to Clubs: subscription plans offering exclusive benefits to our biggest supporters.
As of now, the Clubs consist of 1,687 members divided as follows:
Bronze Club: 1,238 members
Silver Club: 199 members
Gold Club: 122 members
Platinum Club: 128 members
To join a Club, it is necessary to lock a certain amount of YNG on the Young Platform exchange. The number of members is crucial for analyzing the token distribution, especially as more people joining a Club reduces the selling pressure on YNG, leading to greater price stability.
Comparing these figures with the past, Q1 2024 has seen significant positive developments in terms of Club adoption on Young Platform. At the end of 2023, the numbers were:
Bronze Club: 1,011 members
Silver Club: 190 members
Gold Club: 121 members
Platinum Club: 115 members
Consequently, Club memberships have grown by 17%, with Platinum membership increasing by approximately 11%. This growth makes us optimistic about the future, especially with many new initiatives planned for our most loyal supporters in the coming months.
YNG Token Distribution
As of January, there were approximately 23.3 million YNG tokens in circulation. By April, this number had increased to about 23.5 million, a net increase of approximately 182,937 tokens or 0.8%.
These tokens were distributed through the Young Platform Step app in various ways:
39,379 through completing Quizzes, Challenges, and Up&Down (before the implementation of levels)
143,558 through completing Levels
The YNG token market is managed by an algorithm that defines the exchange rate based on two underlying liquidity pools, one in EUR and the other in YNG. Initially, these pools contained:
1 million Euros
4 million YNG
Considering sales and purchases of tokens in recent months, as of March 2024, the pools contained:
747,000 Euros
5.65 million YNG
This configuration results from purchases and sales made during the third quarter, summarized below along with the price trend:
YNG Issuance in 2023
What happened during the first quarter of 2024 from the perspective of tokenomics. The way the token is issued changed last year following the Step 3.0 update. Now that some historical data is available, let’s see how the introduction of XP has limited the inflation of YNG.
As evident from the graph, the latest Step update has significantly curtailed the distribution of YNG. The issuance of new tokens has decreased by 93%.
YNG Price
From a price action perspective, the first quarter of 2024 has been positive. The YNG token has reversed the downward trend that began in August 2023, surpassing the €0.14 level. In recent weeks, following a shakeup that affected the entire market, YNG experienced a slight correction and is currently at €0.125.
The last rally of the Young token was mainly driven by the growth in Club adoption, coinciding with the launch of the new Smart Trades feature. Discover how this influenced the developments in the following paragraphs.
Achievements in the First Quarter of 2024
During Q1 2024, we reached a significant number of goals and released many new features. This report is an excellent excuse to summarize the work done over the last three months. Let’s look in detail at the initiatives undertaken in 2024 to increase the appeal of our token.
Smart Trades
The milestone of this quarter was the Smart Trades trading feature. A set of trading indicators operates autonomously without human intervention, utilizing mathematical models and pre-programmed instructions.
This feature is particularly useful for reducing drawdowns in one’s portfolio during market crashes. Although we are in a bull market phase, the price of most cryptocurrencies does not only rise but is also subject to more or less violent shakes. This functionality, built to automatically detect market trend changes, can be a valuable ally in shielding from crashes or leveraging them to increase the balance of one or more cryptocurrencies.
Initially available only to members of the Young Platform Clubs, Smart Trades was later opened to all users. Moreover, the number of strategies that can be activated simultaneously is, and will always be, proportional to the Club membership level.
Smart Trades have attracted attention! This is clear if we analyze the latest price movement of the Young token (YNG) and the number of Club members. As previously mentioned, since the launch of the feature, Club memberships have grown by 17%, from 1,437 to 1,687.
Since joining the group of our biggest supporters requires owning and locking a different amount of Young tokens, the launch of the Smart Trades feature has obviously also influenced the price of YNG.
Given the market rebound, one of our main goals for the last quarter was to expand the range of tokens and cryptocurrencies available for purchase on our exchange as much as possible. In 2024, so far, the following have been listed on Young Platform:
THORChain (RUNE)
Aptos (APT)
Jupiter (JUP)
Internet Computer Protocol (ICP)
Stacks (STX)
Filecoin (FIL)
Tron (TRX)
Near (NEAR)
Sei (SEI)
Starknet (STRK)
Sui (SUI)
Dymension (DYM)
Injective (INJ)
Fetch ai (FET)
Immutable (IMX)
Flare (FLR)
To allow our users to expand their portfolios, some of these cryptocurrencies are purchasable and sellable in trade-only mode and cannot be deposited or withdrawn from our platform, as they are currently not supported by our custody provider. This temporary arrangement aims to accelerate the listing process on Young Platform and increase, consequently, our users’ satisfaction level, they will be able to withdraw and deposit the cryptocurrencies in question once our custody partner integrates them.
Over the coming months, we will continue to expand the token offering on Young Platform to allow our users to intercept, well in advance, the new market trends. If you would like to be able to purchase one or more specific cryptocurrencies on our exchange, you can suggest them through our Discord server!
Missions
Another activity that we have carried forward during the last quarter is the Missions. A feature designed to make trading on Young Platform increasingly engaging! Currently, taking action on our platform allows you to earn “gems,” which you can exchange in the shop for discounts on trading commissions.
We plan to expand the use cases of “gems” and thus offer increasingly more benefits to users who frequently use our exchange.
During the first quarter of 2024, we also updated our commission model, pursuing the goal of making Young Platform more competitive in the market and more attractive to traders and investors. To design the new fee model, we also listened to your opinion, through a survey extended to the entire Community.
In this sense, the main goal remains the one announced in the previous report: to start trading on decentralized exchanges (DEX)by the end of the first half of 2024. The operational plan for this activity is almost ready and will be presented to the company’s management in the coming weeks, to start work between the end of this quarter and the beginning of the next. The mission, in this sense, is to allow our users to explore the on-chain world without having to leave our ecosystem.
This vision is part of a broader evolutionary model that we have been pursuing since the very first day of our story: to guide the user by hand on the journey to discovering this incredible sector. From the very first approach with Young Platform Step and our educational content, through the purchase or sale of digital assets, to the exploration of the on-chain, and therefore decentralized, world.
In this sense, we are preparing a Live dedicated to our biggest supporters, the members of Club Platinum, to collect feedback and suggestions. If you are part of this group but are not yet in the dedicated Discord channel, join and check your emails, you should have received a form!
Young Platform Pro
In recent months, however, we have not neglected Young Platform Pro, our platform dedicated to crypto traders. The team has worked with the aim of introducing some fundamental improvements for those who intend to analyze the price of cryptocurrencies using a professional approach.
In this sense, we have, first of all, renewed our partnership with TradingView, the most used platform to analyze the charts of major assets, including cryptocurrencies. This means that on Young Platform Pro, our exchange dedicated to crypto traders, users have at their disposal all the most famous tools of this powerful, sophisticated, and complete platform; in particular, indicators, tools, sliders, and drawing tools.
The news for our exchange dedicated to traders does not end here. We are conducting a series of interviews to collect suggestions from the most active traders to make Young Platform Pro increasingly a protagonist within our ecosystem.
New Features Coming Up!
In the coming weeks, we expect many new features, some of which have already been anticipated in the previous points of this report. Discover the main ones in detail!
Taxes & Report: the new service for crypto declaration
The milestone for the second quarter of 2024 certainly concerns taxation, given that it is an aspect that we consider fundamental for every investor who wants to operate in compliance with current laws. These have changed frequently in recent years, and it is therefore not taken for granted to know the current situation or to stay updated on all the news.
For this reason, the Tax Report, a product that has been extremely well received by our community, will not only be re-proposed but improved. The goal of this initiative is to make the “Taxes & Report” service the only product necessary to correctly include cryptocurrencies within one’s tax declaration. This is because, in its final version, it will allow exporting all the essential data to compile the document in compliance with regulations, not only the activities carried out on the products of our ecosystem but also all transactions executed on-chain.
Currently, only for our Club members and with a 10% discount, is the presale of the new Tax Report open. This means that, for the next few weeks, only our most loyal supporters will be able to purchase the new Report usable only for transactions carried out on Young Platform and Young Platform Pro. Here are the discounts applied to each Club.
For members of the Bronze Club: 10%;
For the Silver Club: 20%;
For the Gold Club: 40%;
For the Platinum Club: 80%.
Until the end of the presale (Club discount + 10%):
For members of the Bronze Club: 20%;
For the Silver Club: 30%;
For the Gold Club: 50%;
For the Platinum Club: 90%.
If, however, you use other exchanges, wallets (for example Metamask), or third-party blockchains to manage your cryptocurrencies, we are developing a specific service for you. Thanks to a collaboration with an important Italian partner, it will be possible to connect external wallets in addition to that of Young Platform and import transactions carried out on various platforms. This will allow you to create a single PDF containing all the aggregated data necessary for the compilation of your tax declaration.
We therefore recommend that users who also use other crypto exchanges or wallets wait to purchase the Report, given that the one currently in pre-sale will only be usable for transactions carried out on Young Platform.
The aforementioned discounts for the Clubs refer only to the Tax Report dedicated to transactions carried out on Young Platform and not to the Report, due out in May, which will allow connecting external exchanges and wallets. This is because, as anticipated, we use an external partner to offer this service to our users.
In any case, the cost established by the provider we collaborate with is among the most competitive on the market, and Club members will be able to access other discounts currently being defined.
In the next quarter, we will also focus on the flagship product of the quarter that has just ended. The Smart Trades feature is still in an embryonic state and will see a series of improvements. First of all, the range of available indicators will be expanded, but not only that! We are evaluating the inclusion of more complex and articulated strategies, whose main purpose will be to allow users to increase the balance of users cryptocurrencies thanks to the opportunities that present themselves on the market.
Young Platform has renewed its partnership with TradingView, the platform that has revolutionised the way markets are analysed.
We are proud to announce that our partnership with TradingView, the most widely used platform for analysing the charts of major assets, including cryptocurrencies, has been renewed.
What does this mean in a nutshell? On Young Platform Pro, our dedicated crypto trader exchange, you have all the most popular tools of this powerful, sophisticated and comprehensive platform at your disposal. Indicators, tools, sliders and drawing tools, you have everything you need to fulfil your potential and become a better trader!
What, in short, is TradingView?
TradingView is the world’s most widely used technical market analysis platform. It is an essential resource for traders wishing to consult charts and carry out in-depth analysis to find the right entry and exit points for a position.
TradingView has conquered the market thanks to two key features, especially when dealing with a discipline as complex as trading: ease of use and customizability.
In this sense, it is the perfect tool for novice traders who want to follow the price of a particular asset, such as Bitcoin. It is also perfect for experienced traders who need professional tools, which the platform itself provides.
TradingView and Young Platform: a trading experience without limits
Another great strength of TradingView concerns its ability to adapt to trading platforms and exchanges, in the case of the crypto world.
Thanks to this feature, and the resulting collaboration between Young Platform and Trading View, you will find all the indicators and tools you need for in-depth analysis on our exchange Pro. In other words, you can study the charts in one virtual space, finding your setups every time you log in.
You can plot trendlines or use an exponential moving average, for example, to find the perfect time to buy your favourite crypto. No matter how long this scenario takes to play out, once you log in, you will find everything as you left it.
Here are, in detail, the main advantages of integrating TradingView on Young Platform Pro:
Enhanced crypto charts: use the many trading indicators at your disposal to perform your technical analysis;
All your tools in one place: draw lines or geometric figures, draw, colour certain sections and write your notes directly on the chart;
Your drawings and analyses remain there, where you left them;
You can view all your open orders directly on the chart and keep track of your trading strategies.
Now that you know how the collaboration between Young Platform and TradingView works and what benefits it brings, you just have to start trading in a, truly, professional manner. Keep following our blog so you don’t miss upcoming updates to Young Platform Pro to test the indicators, drawing tools and tools by TradingView.
Bitcoin reached a new all-time high in March. Will it reach $100,000 after the April halving?
What happened in March had never happened in history. The price of Bitcoin had never reached a new all-time high before the halving, scheduled for 19 April (the date may still change).
Since the first target (a new all-time high) has already been reached, it is necessary to identify the next one. In this sense, the most sensible one seems to be the $100,000 mark, a key price zone since the last bullish cycle. According to the Stock-to-Flow model, it was the ‘final’ target for Bitcoin’s price.
Will BTC reach $100,000 after the next halving? We try to answer this question by analysing the halving mechanism, what happened during past cycles and the macroeconomic situation.
In the past, every halving has had an impact on the price. Not only does the event lead to a reduction in BTC issuance, but it halves it. Certainly, the decrease in Bitcoin’s inflation, which currently stands at around 1.7% and will fall to 0.85% after halving, impacts the asset’s value, especially in the long term. However, the effect this event has on the price of BTC is also different.
Specifically, it can be understood as an arguably unintentional ‘marketing strategy’ of Bitcoin’s creator, Satoshi Nakamoto. This is because Nakamoto designed Bitcoin’s blockchain so that the halving happens suddenly, catalysing attention and stimulating debate around the cryptocurrency.
In fact, the decrease in BTC issuance does not occur gradually, as is the tokenomics of many other cryptocurrencies, but every 210,000 blocks, i.e. about four years.
In this way, halving becomes, by necessity, a major event that every industry enthusiast eagerly awaits. But that is not all. Due to its periodic and regular nature, this mechanism not only punctuates the cyclical price movements of BTC but also attracts the attention of the mass media and individuals hitherto opposed to this technology.
Faced with this scenario, the days leading up to halving represent a potentially strategic moment for those considering buying but cannot decide on the best time.
Buying Bitcoin now could allow you to position yourself before the combined effect of reduced issuance and increased interest drives possible price appreciation. While the exact outcome of the halving remains uncertain, history suggests that the event could be followed by an upward phase, making these last few days an opportunity for those wishing to buy BTC to consider it carefully.
The upcoming halving of Bitcoin comes at a particularly relevant time in history from a macroeconomic point of view. Mainly because interest rates are expected to be cut by the major central banks, including the Federal Reserve (FED) and the European Central Bank (ECB), presumably starting in June.
This scenario could act as a catalyst for assets considered more volatile or risky, such as equities and, in particular, Bitcoin and other cryptocurrencies. In an environment where high-interest rates offer attractive returns, investors, and significantly institutional investors, tend to prefer safer investments such as government bonds or government securities.
However, as interest rates and, consequently, the yields offered by these instruments fall, capital shiftstowards riskier but potentially more profitable assets.
This context of falling interest rates opens the door to increased interest from institutional investors in the cryptocurrency market, particularly Bitcoin.
In addition, the recent introduction of Spot ETFs on Bitcoin has proven to significantly impact the price of BTC, further underlining the importance of institutional investment in the sector. These instruments offer a more accessible and regulated means for these actors to access the cryptocurrency market, acting as a bridge between the traditional financial and cryptocurrency worlds.
Consequently, this scenario sets the stage for a potential bullish rally for BTC. Investors attentive to these macroeconomic and market dynamics might find an additional motivation to consider Bitcoin as an integral part of their portfolio in this context.
Bitcoin’s price after halving in history
Finally, to estimate the impact of halving on the price of Bitcoin it may be useful to look back. How has halving affected the price of BTC in past bull markets? To oversimplify the question and provide a straightforward answer, halving has always had a positive impact.
In the months following the first halving in history, which took place on 28 November 2012, the price of Bitcoin rose from a price of $12 to a high of around $1,000.
The following year (2016) also positively affected Bitcoin’s price action; the value of BTC reached the historic $20,000 level from the $650 level.
The last halving in 2020, although it generated a lower price increase than previous halvings—740% compared to 2,900% in 2016 and 8,300% in 2012—allowed Bitcoin to reach an all-time high of $64,000. On 11 May 2020, the day Bitcoin’s issuance halved, the price of BTC was $8,000.
What will happen in the coming months? Will the halving, cutting of interest rates, adoption of spot ETFs, and thus the entry of institutional investors contribute to Bitcoin’s price increase?
THORChain (RUNE), one of the most successful DeFi projects regarding blockchain interoperability, has officially been listed on Young Platform and Young Platform Pro. This exciting development means that users can now easily purchase, store, and sell THORChain (RUNE).
THORChain: What You Should Know
THORChain (RUNE) was developed to enable the exchange of cryptocurrencies from different blockchains, which are often inherently incompatible. This has led to the creation of THORSwap, a decentralised exchange (DEX) with an Automated Market Maker (AMM), as the flagship product of this infrastructure.
At the heart of this protocol is the native token, RUNE. It is essential for conducting exchanges as it supports the payment of transaction fees and forms the primary component of liquidity pools.
Furthermore, holding RUNE allows individuals to participate in the decision-making processes regarding the future of THORChain, positioning it at the centre of its governance mechanism.
How to Use THORChain on Young Platform?
Young Platform and Young Platform Pro offer several features for THORChain (RUNE), including:
Embark on your journey with THORChain (RUNE) on Young Platform today. Discover DeFi’s endless possibilities and take part in the future of finance. Join us now and start exploring the dynamic world of THORChain on Young Platform.
Warning! Rune can only be bought and sold but not withdrawn or deposited by and on Young Platform. For more information, please read our Terms and Conditions.
Which countries have the highest public debt? Find out the ranking and where your country ranks.
Public debt is one parameter that describes a country’s economic situation. We hear it mentioned everywhere, often in relation to another measure, GDP, which indicates the total productive assets of a state.
Since we are in a capitalist system, the entire global economy is based on debt. It is a kind of sap, indispensable to achieving the main objective imposed by the economic system in which we live: growth. In 2008, however, a technology was born that has the potential to revolutionise the global monetary system. We are talking about Bitcoin; you can read more about it below.
However, let us return to the central theme of this article: Which are the most indebted states in the world, and thus, which is the ranking of the countries with the highest public debt?
Public debt: a problem to be tackled
The ranking of countries by public debt has changed since the COVID-19 pandemic, not so much by the order of the states in the ranking but by the amount of money they owe their creditors. In 2028, according to the International Monetary Fund (IMF), the global debt/GDP ratio will reach 100%.
This indicator, usually used to analyse an individual state’s economic situation, measures the amount of debt in relation to the Gross Domestic Product (GDP), i.e., the total productive assets of a state, over a year.
If the low ratio, GDP is sufficient to repay the annual debt. If, on the other hand, the ratio represents a large gap between debt and GDP, it will mean that production is not enough to repay the debts, and more will have to be demanded, increasing the ratio even further.
The situation is even more serious if we consider the quantitative tightening policies that all major Western governments have implemented since 2022 to combat inflation. Rising interest rates contribute to increasing government debt costs. In other words, the world is sitting on a mountain of debt; global public debt exceeded the worrying $300 trillion mark in March 2024.
In short, the situation is becoming increasingly critical. Jerome Powell, chairman of the Federal Reserve (the central bank of the United States), recently said that America ‘has embarked on an unsustainable path’ and is ‘borrowing money from future generations’. Could Bitcoin be the protagonist of the next monetary revolution?
Despite the above and a total public debt of about 34 trillion dollars, the US does not lead the ranking of countries with the highest public debt. Read on for the ranking!
The ranking of the most indebted countries
The ranking of the countries with the highest public debt is compiled using the debt-to-GDP ratio. The nominal value of this measure taken ‘alone’ does not provide information on the real incidence of a state’s debts.
Japan (264%)
Japan has the highest debt-to-GDP ratio. The cause of this debt is the housing bubble that burst in the 1990s.
Venezuela (241%)
Venezuela’s devastating economic, political, and social crisis, which erupted during the second half of the last decade, is still not over, and its third-place ranking in the ranking of countries with the highest public debt testifies to this. According to estimates, some 8 million people have recently left the country due to its very serious conditions.
Sudan (186%)
Third in the ranking of countries in terms of public debt is Sudan, which has been severely affected by an economic crisis caused by internal conflicts. This has resulted in policies of international isolation negatively influenced by corruption.
Greece (173%)
Greece’s avoided default in 2009 is now a distant memory; the country has certainly improved in recent years. In the second quarter of 2023, it was the second fastest-growing country in Europe.
Singapore (168%)
Singapore is an incredibly advanced city-state, especially economically, and boasts one of the highest per capita incomes in the world. Despite having a high public debt, rating agencies continue to rate it with top marks.
Eritrea (164%)
Eritrea is a dictatorship headed by unelected President Isaias Afewerki. In the African state, the authoritarian government has implemented laws that severely restrict civil and political rights. In addition, it imposes long-term compulsory military and civil service, which forces many citizens to flee.
Lebanon (151%)
Lebanon’s economic crisis has been going on for four years. From 2019 onwards, the country’s public debt has grown enormously, reaching 282% of GDP in 2022. In addition, the Lebanese lira is undergoing a major devaluation, currently taking almost 90,000 to reach the value of one US dollar.
Italy (142%)
Our country ranks fifth among the most indebted countries. Italy’s public debt reached a new all-time high in February 2023 and, after falling slightly in August, has been rising again since September.
USA (129%)
The United States is ninth in the ranking of the most indebted countries. Like Italy, it has pursued quantitative tightening policies to combat inflation. One of the weak points of this type of measure concerns debt. As interest rates rise, so do the states’ liabilities. Now that you know the ranking of the most indebted countries, you can delve deeper by reading our dedicated Academy article. This starts with a simple definition and then deals with the history of Italy’s public debt.
The recent drop in inflation rates in France and Italy has ignited a lively debate about possible moves by the European Central Bank (ECB), with much attention focused on the At the last ECB meeting in April 2024, the Governing Council decided to keep the three key interest rates unchanged.
This decision came despite the recent drop in inflation rates in France and Italy. In fact, the picture in March sparked a lively debate on possible moves by the European Central Bank, pointing to the possibility of an early rate cut. This discussion comes against a backdrop of Europe actively trying to balance economic growth with controlling inflation, a topic of considerable interest to investors, policy-makers, and consumers.
The European panorama
The eurozone witnessed a significant reduction in inflation in 20 nations, which fell to 2.4% in March. This result exceeded analysts’ expectations, who had forecast a stable inflation rate of 2.6%
This is consistent with the inflation trend, which has shown a steady decline since its peak of 10.6% in October 2022, driven by pandemic disruptions and geopolitical tensions, particularly Russia’s invasion of Ukraine.
A further decline is therefore encouraging and marks a moment of optimism, which the ECB meeting in April 2024 confirmed.
Indeed, the Council pointed out that most measures of core inflation are showing signs of easing, with wage growth moderating gradually and companies beginning to absorb some of the increase in labour costs into their profits.
The demand-pulling effects of previous interest rate hikes, together with tight financing conditions, are helping to moderate inflation. Nevertheless, domestic price pressures remain strong, particularly in the service sector, keeping service price inflation at high levels.
Falling inflation in France
In France, inflation slowed to its lowest level since July 2021, with consumer price growth slowing to 2.3% in March from 3.2% in February, according to the national statistics agency. This was well below economists’ forecasts, which expected a figure of 2.8%, signalling a general slowdown in price increases. In particular:
services inflation dropped to 3%
that of energy at 3.4%
and a significant decrease in food inflation to 1.7 per cent, with fresh food prices falling by 3.9 per cent year-on-year.
Month-on-month inflation data further confirmed the trend, slowing from 0.9% to 0.3%, indicating a considerable easing of inflationary pressures in the eurozone’s second-largest economy.
Falling inflation in Italy
Italy also reported a lower-than-expected inflation rate for March, with consumer prices rising by 1.3% year-on-year, against forecasts of 1.5%. This moderation was attributed to the end of seasonal clothing sales and price increases in transport services, along with a slowdown in falling energy costs.
ECB rate cut decisions
The interest rates on the main refinancing instruments, the marginal lending facility and deposits will remain fixed at 4.50 %, 4.75 % and 4.00 % respectively.
Furthermore, according to statements given at the press conference following the meeting, the Council believes that inflation levels in the coming months will still fluctuate around current levels. The decline in inflation will not be linear and will therefore have to be assessed on a case-by-case basis. In all likelihood, the target level of 2% will only be reached next year.
François Villeroy de Galhau, Governor of the Bank of France, hinted at the possibility of a rate cut in June, provided inflation continues to fall faster than expected and the economy remains stagnant. He emphasised the importance of not overburdening economic activity by maintaining a tight monetary policy for a prolonged period.
Speaking at a financial event in Barcelona, Pablo Hernández de Cos outlined a scenario where June could see the start of interest rate cuts by the ECB. As Governor of the Bank of Spain, De Cos’ outlook carries significant weight, highlighting a cautious but optimistic approach to the Eurozone economy.
Wage growth and inflation
Despite encouraging signs of cooling inflation, ECB monetary policymakers remain
Despite encouraging signs of cooling inflation, the ECB’s monetary policymakers remain cautious, particularly as wage growth gradually moderates. Companies are starting to absorb some of the increase in labour costs with their profit margins.
With service sector inflation down only slightly to an annual pace of 3.9% in February, the central bank is taking a measured approach, probably waiting until June to reassess wage pressures and their potential to bring inflation closer to the target.
Market expectations and ECB position
Analysts believe that the biggest complication could come if the US Federal Reserve delays its policy easing to keep up the fight against inflation. For this reason, they believe the ECB will not cut rates before its big sister.
To the supporters of this interpretation, ECB President Christine Lagarde replies: ‘We are data-dependent, not Fed-dependent’. She adds, ‘We do not speculate what other central banks might do. (…) Different factors drive inflation in the US and the Eurozone. (…) It cannot be assumed that Eurozone inflation will mirror US inflation.”
After the ECB decision, money markets were pricing about a 70% chance of a 25 basis point rate cut in June, compared to about an 80% chance earlier on Thursday.
Experts such as Carsten Brzeski, global head of macro at ING, suggest that the March inflation data, combined with upcoming information on wage growth and ECB staff forecasts for GDP and inflation, are tilting the narrative towards a first rate cut in June. Kamil Kovar of Moody’s Analytics interprets the latest data as a significant step towards defeating inflation, advocating up to five rate cuts this year.
Perspectives
The ECB’s decision to keep interest rates unchanged and to continue with a measured monetary policy reflects a careful assessment of current economic conditions and the inflation outlook. By committing to a flexible and data-driven approach, the ECB underlines its determination to ensure lasting price stability by balancing the needs for economic growth with its responsibility to keep inflation under control. The ECB’s future moves.will be awaited with great interest, as Europe navigates through complex economic challenges, seeking to ensure a sustainable recovery and long-term stability.
