Bureau Labor Statistics Initiates Layoffs of 911,000 Workers, Causing Ripples in Bitcoin Market and Prompting Bitcoin Hyper to Raise $14.8 Million During Its Presale
In the ever-evolving world of cryptocurrency, the job market weakening has caused a slight dip in Bitcoin's value, pushing it down from above $113K to under $111K in less than a day. However, this downward trend might be short-lived, as the market is now testing $112K, eyeing its psychological barrier of $115K.
The potential recovery is linked to the development of Bitcoin Hyper, a groundbreaking Layer-2 solution designed to improve Bitcoin's transaction speed. Currently ranked 24th on Chainspect's list of fastest blockchains by TPS, Bitcoin Hyper uses a Canonical Bridge and the Solana Virtual Machine (SVM) to achieve high transaction speeds.
The Bitcoin Hyper presale is ongoing, and investors are encouraged to secure their tokens at the current low price. The presale has already raised an impressive $14.8M+, with recent whale buys of $161.3K, $100.6K, and $50K.
The team behind Bitcoin Hyper is developing a Layer-2 solution that integrates the Solana Virtual Machine to enhance Bitcoin with scalability, fast transactions, and smart contract capabilities. While specific details about the corporation or team name have not been disclosed publicly, the project has garnered significant attention and support.
Once wrapped $BTC is on the Layer-2, swaps, NFTs, DeFi, and more become possible. This could potentially lead to a run to $115K and a new ATH close to $129K, according to some analysts.
The SVM enables the lightning-fast execution of DeFi apps and smart contracts on the Hyper Layer-2. Once implemented, Bitcoin Hyper could transform the Bitcoin ecosystem forever.
Interestingly, the market is entering a new era of monetary policy, as suggested by The Kobeissi Letter. The letter also believes that rate cuts are imminent, which could further boost the cryptocurrency market.
History shows that a recession can lead to a bounce back in the stock market, as seen in the 1990-1991 recession where the stock market crumbled by 20% but bounced back a year later by 30%, following cheaper Fed credit rates. Whether this trend will repeat itself in the crypto market remains to be seen.
In the meantime, the revision of job losses exceeds 2009 levels and is outweighed only by the Great Depression. Most job cuts were concentrated in consumer-driven areas like leisure, hospitality, trade, and utilities, with a total of 880K jobs vanished from the private sector and 31K from the public one.
As for Bitcoin Hyper's native token, $HYPER, it currently costs $0.012885 and offers a 75% APY for staking. Adding Bitcoin Hyper's $HYPER to your portfolio could be a strategic move, given its successful presale and potential for further growth.
The Canonical Bridge connects Bitcoin's ecosystem to the Hyper Layer-2 and mints wrapped $BTC on the Layer-2. This connection could open up a world of opportunities for Bitcoin, making it more versatile and adaptable to the rapidly changing digital landscape.
In conclusion, while the job market weakening has caused a temporary dip in Bitcoin's value, the potential recovery is linked to the development of Bitcoin Hyper. The successful presale, potential for growth, and the integration of the Solana Virtual Machine make Bitcoin Hyper a promising investment opportunity. However, as with any investment, it's essential to do thorough research and consider all factors before making a decision.
