COINBASE TO INTEGRATING THE BITCOIN LIGHT NETWORK

in hive-183397 •  2 years ago 

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Bitcoin is finally breaking its rage, the move above $30,000 is the first since June 2022. That is just the daily chart, what a want to see right now is enough momentum on this price action move to sustain until the end of the with to cement week close above $28,000. After three weeks of the most boring price action we have seen in a while, Bitcoin is finally doing something again. Microstrategic is of the biggest holders of Bitcoin, they invest 4 billion dollars into Bitcoin right through the lows of the bear market. Their break-even price is right around $29,000 and at 30k they are sitting around $140 million in profit. It turns out that wall street has been loading up Microstrategic stock in order to get exposure to Bitcoin. Fidelity bought 97,199 Microstrategic stocks in the first quarter and Bank of America bought 86,147 Microstrategic stocks.

Bitcoin has also Bitcoin the most Google term in the United States this year. While Bitcoin is the number one most searched in the USA, the savings account is at 27 and it's probably because are freaking out of their savings account. China's version of Tiktok called Douyin has integrated Bitcoin price feed. We are going to be getting those new inflation data for the USA coming out tomorrow. If inflation has increased, the market would react very well but if the inflation does fall as the market does expect, it could pave a way for more bullish price action. We still have all the regulatory uncertainty. Despite all the potential FUD we are seeing in the market, Bitcoin is pumped anyway.

The CEO of Coinbase Brian Armstrong made a big announcement that they will be integrating the Bitcoin Light Network. Layer 2 protocol needs to be integrated into the exchanges to see a wider option. Brian Armstrong was called out on Twitter for ignoring the lightning network by some users accusing him of not maintaining it. If Coinbase would be integrated with the lightning network, then the exchange will join other exchanges that have already integrated lightning networks like Kraken, and OKX. Brian Armstrong didn't share any further details and exactly when the light network is going to be integrated.

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