Good morning and welcome to the latest edition of Ghostfi Crypto!

• The reason Bitcoin price is down 11% since the hal …

• SEC will classify ETH as security and reject spot …

• Headlines you might want to know about.

• Spooky Crypto Memes

The reason Bitcoin price is down 11% since the halving

Bitcoin couldn't just quietly do its thing and rise in value without causing everyone to whip out their crystal balls, could it? After the fourth halving, some crypto hopefuls thought they were in for a golden shower of cash. But instead of raining money, Bitcoin decided to pour on the parade with a good old-fashioned price plunge.

Here's the deal: Bitcoin, the crypto king, got everyone buzzing when it hit a new all-time high leading up to its fourth halving. It was all champagne and moon talk—$64,000 and climbing! But then reality checked in. After peaking at $67,000, Bitcoin threw itself off the cliff, dropping to a mere $57,000. The ones who expected a rocket ride post-halving were probably left feeling like they'd boarded a roller coaster in reverse.

Meanwhile, all the stock market turbulence and economic jitters didn't exactly help. Bitcoin's price action isn't so much a surprise, more like an inevitable disappointment. I mean, sure, it's still up 35% since the start of the year, but when you come off a crazy bull run, people tend to get their hopes a bit high.

Analysts have been saying that this halving might not bring the usual fireworks, and it seems like they nailed it. JPMorgan's March prediction that Bitcoin might drop to $42,000 after the halving was pretty spot-on, huh? And Markus Thielen from 10x Research suggests we might slide down to $52,000—how fun.

Despite the doom and gloom, some diehard believers still think Bitcoin will hit new highs in 2024. They've got reasons that go beyond just the halving, talking about ETFs and other what-have-yous. But hey, for now, anyone who's got their crypto tucked away might want to fasten their seatbelts—it looks like it could be a bumpy ride.

SEC will classify ETH as security and reject spot Ethereum ETFs, says Michael Saylor

Our good friend Michael Saylor, the Bitcoin zealot himself, has graced us with his profound wisdom once again. Apparently, the SEC is gearing up to rain on Ethereum's parade and label it a security this summer. How utterly shocking and unexpected!

But wait, there's more! Saylor believes this regulatory smackdown will extend to all the other major cryptos like BNB, Solana, Ripple, and Cardano. Because why stop at just ruining one party when you can crash the entire shindig? Clearly, the SEC has nothing better to do than play crypto killjoy.

Meanwhile, Bitcoin sits upon its throne, basking in the warm glow of institutional acceptance. According to the all-knowing Saylor, it's the one true "universal" crypto asset that Wall Street and mainstream investors will deign to touch. How incredibly convenient for MicroStrategy's business model!

Of course, not everyone is buying into this doomsday scenario for Ethereum ETFs. BlackRock's Larry Fink seems to think a spot ETF could still happen, even if the SEC declares ETH a security. Because what's a little regulatory hurdle when you've got billions to potentially make?

So there you have it, folks. The crypto circus continues, with ringmasters like Saylor providing endless entertainment with their hot takes and grand proclamations. Grab your popcorn and enjoy the show!

Headlines you might want to know about.

• Changpeng Zhao gets 4 months, Sam Bankman-Fried gets 25 years — Why? 

• Bitcoin Hasn't Hit the Bottom Yet, Says Standard Chartered

• Dogecoin loses 20% in 7 days, but can this group turn things around?

• Ripple Forms Partnership With Tokyo Unit of $1,200,000,000 Firm To Push for XRPL-Powered Solutions in Japan

Invest in the GhostFi Bitcoin Whale Hunter Fund, enjoy total transparency, deposit and withdraw your funds anytime you want. Our tokenized crypto fund tracks one of the most successful Bitcoin whale wallets.

Spooky Crypto Memes

Share GhostFi Crypto with your friends/family who want to learn more about crypto and investing. Send them this link: ghostfi.beehiiv.com

That’s it for this week. Please share this newsletter with your friends to help us grow, send them this link: https://ghostfi.beehiiv.com/

DP

*DISCLAIMER: None of this is financial advice. This newsletter is strictly for educational and entertainment purposes; it is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your research.