Bitcoin Bull Run: The Impact of Web 3.0
Arthur Hayes, co-founder and former CEO of BitMEX, recently argued that Bitcoin’s bull run began on March 10, the same day Silicon Valley Bank (SVB) was taken over by the Federal Deposit Insurance Corporation. This was in response to the liquidation of Silvergate Bank on March 8 and the closure of Signature Bank by New York regulators two days later.
In order to prevent further collapses, the Federal Reserve created the Bank Term Funding Program (BTFP), which offers banking loans of up to a year in return for posting “qualifying assets” as collateral. This has led to the emergence of Web 3.0, a new era of digital finance that has yet to be fully explored.
In light of these developments, it’s important to consider how to make money from Web 3.0 and what the history of Web 1.0, 2.0, and 3.0 is. It’s also important to ask whether we are currently in Web 2.0 or 3.0 and how to get into Web 3.0 as well as how to invest in it.
What is Web 3.0?
On the day the Federal Reserve announced its plan to backstop the entire banking system, Bitcoin’s price surged by 26%. This caused traders to look into fixed-supply assets such as Bitcoin, and according to Hayes, this is when the bull market began.
Six to twelve months from now, the rest of the market may start to respond to this shift towards web 3.0. As a result, many people are asking questions about web 3.0, such as “how to make money from web 3.0”, “how do you invest in web 3.0”, and “are we in web 2.0 or 3.0”.
Web 3.0 is the third generation of the internet, and it is built on the idea of decentralization. It is a shift from traditional web services and applications to decentralized ones, and it has the potential to revolutionize the way we interact with the internet.
The Impact of Central Banks on Cryptocurrency
Hayes suggested that regardless of whether the Federal Reserve and other central banks decide to raise or lower interest rates, or even if they “print more money”, the cryptocurrency industry will still be in a good position.
He stated that even if the central banks opt for economic tightening, or if they increase the money supply, Bitcoin will still perform well.
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