In today's fast-paced and ever-changing digital landscape, cryptocurrency exchanges are fast becoming important players. Among them, StealthEX stands out not only as a platform, but also as a supporter of data privacy and decentralization. Integral to its success was visionary Maria Carolla, who took the dynamic exchange to new heights. His interview was not interesting because he runs an established cryptocurrency exchange. More importantly, it embodies the spirit of innovation that drives the progress of the entire cryptocurrency industry. His journey reflects unwavering dedication, burning passion and a deep understanding of the cryptocurrency world. In an engaging one-on-one session, we delve deeper into the media's role in cryptocurrency pricing, Bitcoin's expected halving by 2024, and the industry's future prospects.
The influence of media and public representatives on cryptocurrency prices
Discussing the misinformation spread after the SEC approved the Bitcoin ETF, which led to a significant increase in the price of Bitcoin, Maria explains that the media has a huge impact on the value of the cryptocurrency.
"The strength of the news affects the market value. "It affects market sentiment and the cryptocurrency market is very sensitive to media stories," he said.
“The cryptocurrency sector is primarily an advertising-based market whose dynamics are influenced by media and thought leaders. The more a digital asset is discussed and publicized, the more popular it becomes, the greater the impact on demand and price. said Maria.
He noted that influential people like Elon Musk have the potential to create chaotic market movements.
“I mean, look at what Musk said about DOGE. There is a study called "musk effect" . He took a deeper look at the implications of Musk's post, saying they have the power to raise Bitcoin's price by almost 17% or lower it by 12%.
He also noted that Bitcoin ETF adoption was not factored into market calculations until this event occurred.
Regarding the wider media landscape, Maria advocates a responsible approach to journalism and urges media professionals to seriously check their sources. They emphasize the importance of ensuring correct and responsible reporting in journalism, taking inspiration from their families.
Maria said: “ Global fake news is rampant. In my opinion, these misunderstandings about Bitcoin ETFs are not intentional, but rather the result of bad journalism. If you have a large media outlet that affects a large audience, one piece of misinformation can spell disaster.
Interested in preventive measures, we wondered what advice media professionals could give to avoid such situations. Mary's face became serious: “Always check the source. If you are submitting information, you must have a credible source backing you up. Traffic tracking is not an excuse to spread incomplete news. I come from a family of journalists; Believe that they will behead you for such weakness!"
Bitcoin Halving 2024: Market Overview and Preparation
Delving deeper into the topic of the 2024 bitcoin split, Maria offers her thoughts on the expected impact on Bitcoin's price and how the cryptocurrency community is preparing for this event. They acknowledged the difficult challenges the event presents to miners due to reduced rewards, but emphasized its key role in influencing cryptocurrency prices.
“The bitcoin halving is a network leap, a leap we've made before. It does not serve as breaking news to create a strong sense of sadness or happiness. While miners complain about low rewards, the community is ready. Commercially, this will definitely affect prices. Finally, halvings have a significant impact on prices.
A Bitcoin ETF with true cryptocurrency spirit
Speaking about spot Bitcoin ETFs, Maria warned that StealthEX could deviate from the industry's core principles by emphasizing its commitment to on-chain transactions.
"Sometimes it seems to me that we have moved away from the core of cryptocurrency. Traditional investments have value. They are an adoption tool. However, cryptocurrency as an industry is different from cryptocurrency as a market. The Spot Bitcoin ETF was created to allow fat cats access to Bitcoin as usual. Their requests are market-based and do not necessarily promote blockchain technology. It's amazing and a little sad how much the fiat value of any cryptocurrency helps us, even if we try to separate ourselves from it." Maria cites a recent paper analyzing the movement of chained whales, which shows that the movement is already organized. Investors have been hoarding Bitcoin ahead of the current price spike.
He reflected on the dynamics in the cryptocurrency community, citing a trend where mainstream technology-based excitement has died down and the convenience provided by centralized exchanges has become apparent.
"Fewer and fewer people are saying, 'I'm here for the technology.' Even in the early days of cryptocurrencies, there were only a few of them. After centralized exchanges like Mt.Gox started to happen, two factions emerged. Longing for family sustenance, you turn to business. Others advocate decentralization and support the technology, and it seems that cryptocurrencies on platforms like Binance are not really “cryptocurrencies” but more like Forex. However, most users prefer centering for convenience. As long as the price is related to the underlying asset, they don't care whether they buy Bitcoin, packaged Bitcoin or a Bitcoin ETF, " Maria said.
He added that the events surrounding FTX remind us of the core principles of decentralization and the ethos of self-sovereignty that underlies cryptocurrencies.
"Decentralization brings its own challenges and responsibilities. When you choose a non-governmental platform, you are in control of your financial sovereignty. If you want, you become the sole guardian of your wallet and your words, the key to your digital kingdom. "This level of personal responsibility can be scary for many people, but it's important to be aware of this journey," he said. Maria explained.
Summary
Concluding this enlightening conversation, Maria clearly states the duality of cryptocurrency in her own words : “The spirit of cryptocurrency lives in the industry and its heartbeat resonates in the markets. It's true that cryptocurrency's dual nature as technology and tradable asset gives it power and potential, but it also poses unique challenges. Maria's journey with StealthEX is an inspiration to create a world where everyone can achieve financial freedom and privacy. It's a reminder that we're just entering the cryptocurrency era, and with a leader like Maria, the future is sure to be bright.