The idea of cryptocurrency has destroyed itself.
Now traditional banks will compete with CEXs.
A brief history of why crypto will change forever. 🧵👇 

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A quick overview of institutional and trader opinions on the market outlook.

Is Bitcoin about to choose a direction?

Today we saw gold, silver, and palladium all hit new highs! Since the correction at the end of October, gold has been trading above the 25-35 day moving average; silver is rising along the four-hour moving average; and palladium is rising along the three-day moving average.
Synchronization: This "synchronized new highs" usually signifies the start of a major trend. Gold provides "stability," silver provides "elasticity," while the addition of palladium indicates a dual surge in industrial and investment demand.
In this clear upward trend, trading volume has not weakened significantly and no bearish structure has emerged. Don't try to short the short at the top; otherwise, you'll end up with...

Market Analysis | Gold, Silver, and Palladium Hit New Highs! How High Can They Go!?

Bybit has officially become a member of the International Finance Centre in Da Nang, marking a significant step in the effort to build Da Nang into a regional financial and fintech hub.

Bybit digital asset exchange officially joins the International Financial Center in Da Nang.

2/ Before we begin, let's recall the fundamental idea behind the creation of blockchain.
In 2009, Bitcoin was developed with the aim of establishing a decentralized currency, independent of centralized authorities. 

3/ The first step in breaking these principles was the introduction of centralized exchanges.
These helped the industry by making cryptocurrency purchases accessible to the majority.
However, anonymity is no longer possible here, which is where KYC regulations come into play.

4/ The long history of hacking has prompted authorities to heighten security measures and regulate the industry.
The collapse of FTX marked a pivotal moment when the influence of centralized authorities became more pronounced. 

5/ ...But what now?
Now we wait for the US to include crypto in strategic reserves, for governments to approve ETFs, or for your favorite celebrity to launch another memecoin.
Irony? No - the new reality.

6/ I've highlighted three reasons why we've come to this point: trust, liquidity, and protection.
The current crypto market remains difficult for most users, and new liquidity is a major factor in its growth.
Thus, the idea of profit has overshadowed decentralization,

7/ "Why alternative and not new?"
Because the crypto market largely mirrors the stock market and still relies on global sentiment.
Occasionally, this correlation breaks, and the crypto market acts like a safe island, but it inevitably comes back again. 

8/ Continuing the topic of what the new reality has brought us, I want to  mention Bitcoin season.
Have you wondered why Bitcoin is reaching all-time highs while the altcoin market lingers at 2022 levels?
The answer lies in Bitcoin ETFs, which are proving to be successful, 

9/ If this seems silly, know that even the most famous Bitcoin maxis are selling their on-chain assets for ETFs.
The main reason is safety. You won't need to worry about hiding or remembering the seed phrase - a trusted company handles it for you. https://twitter.com/918804624303382528/status/1890721205059031311

10/ What's next?
As the market expands, regulation will likely increase, which is a natural progression.
It's also possible that banks and CEXs will intersect. Banks might start offering crypto services, or CEXs could acquire banking licenses.

11/ Governments won't be spared either. While most countries remain cautious about cryptocurrencies, many are actively developing CBDCs.
Blockchain technology has found its application but has evolved in form and concept, changing the original idea.

12/ Make sure to join my alpha channel so you don't miss out on the hottest updates and news.
➢ Link - http://bit.ly/3KbglyH. 

13/ Wanna more alpha? Follow these chads:
@AlphaFrog13 / @Defi_Warhol / @the_smart_ape / @kem1ks /  @splinter0n / @0xDefiLeo / @0xJok9r / @Haylesdefi / @eli5_defi / @belizardd / @0xAndrewMoh / @DOLAK1NG / @kenodnb / @YashasEdu / @rektdiomedes / @thelearningpill / @Flowslikeosmo

14/ Thank you for your attention. I hope this thread helps you  get closer to understanding how blockchain principles have evolved.
Follow me and save this thread in your bookmarks. https://twitter.com/1447592829786669056/status/1917280328542281780