LONDON (IT BOLTWISE) – Bitcoin is showing signs of bullish divergence, which could indicate an impending price rally. Large investors have begun accumulating significant amounts of Bitcoin, increasing confidence in the cryptocurrency’s long-term prospects. At the same time, startups are looking for ways to manage the volatility of crypto salaries.
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Bitcoin is once again in the financial world’s focus as recent charts show a bullish divergence. This technical analysis suggests that despite falling prices, the Relative Strength Index (RSI) is making lower lows, indicating increasing buying power. Analysts are predicting a possible price increase of up to 14.5%, with targets between $115,000 and $126,000. This optimistic outlook is backed up by the activity of large Bitcoin investors, also known as ‘whales’, who recently purchased over 52,503 BTC, worth approximately $5.7 billion.
The increasing adoption of Bitcoin and other cryptocurrencies is also impacting the way startups pay salaries. Given the volatility of cryptocurrencies, many companies are turning to stable alternatives. A popular method is to pay salaries in stablecoins such as USDT or USDC, which offer stable value, unlike Bitcoin. This strategy helps minimize the impact of price fluctuations and provides employees with a reliable source of income.
Another approach is to instantly convert crypto salaries into fiat currencies to reduce the impact of market movements. Startups are also diversifying their treasury holdings by holding a mix of cryptocurrencies and stablecoins to spread risk. These measures are part of a broader trend where companies are offering their employees more flexibility in choosing their payment method, be it in crypto, stablecoins or fiat.
In Europe, small and medium-sized enterprises (SMEs) face regulatory challenges related to cryptocurrencies. The European Union is transferring oversight of the crypto market to the European Securities and Markets Authority (ESMA), resulting in centralized regulation. The upcoming Crypto Assets Markets Act (MiCA), scheduled to come into force in January 2025, will create clear guidelines for transparency and disclosure. These regulatory changes require companies to make significant investments in compliance and operational adjustments.
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