Bitcoin hasn’t fared too well over the past week; after hitting $10,000 last weekend, the price of the leading cryptocurrency fell, tumbling from that key psychological resistance to a price as low as $8,450 (TradingView data) — a drop of 15%.While there are a number of analysts hinting that this retracement is a precursor to…
There’s no doubt Bitcoin has been on a tear over the past 50 days. Since bottoming at $6,400 in the middle of December, the price of BTC has rocketed higher and higher, surging as high as $9,900 earlier today — inches shy of the key $10,000 price point.According to a number of analyses, however, the…
In the cryptocurrency industry at least, it’s pretty widely understood that the Bitcoin halving is due to take place in May 2020. However, that might not actually be the case.Surging hash rate and recent mining difficulty adjustments mean that miners will solve remaining blocks quicker than expected. Some analysts are now eyeing the end of…
May’s halving will reduce the amount of Bitcoin rewarded to miners, and in turn, increase the coin’s scarcity.Considering this scarcity – think supply and demand – as well as historical data of the previous two halvings, Bitcoin’s price may see a remarkable bump in the months following the event.Halving Historically Leads to Massive GainsThe so-called…
Google users appear to be becoming increasingly interested in the Bitcoin halving happening this year. With its issuance set to drop, the leading crypto asset by market capitalisation is due to become even more scarce in just a few months time.Many analysts continue to debate whether public knowledge of the event has allowed the market…
The term HODL is an acronym derived from the phrase “hold on for dear life,” which became a widely popular recommendation for investors to remain steadfast in when Bitcoin’s notorious volatility peaks.It appears that crypto investors are taking note of the tip and holding strong, as more than half of the entire Bitcoin supply has…
Bitcoin will undergo its third halving event to date this May. The supply of new BTC released to miners with each block will reduce by half to 6.25 BTC.The impact of the event has been the source of much debate in the industry. For one analyst, lack of understanding may be hindering Bitcoin’s rise to…
Over the past decades, central banks like the Federal Reserve have failed to keep inflation rates stable. Bitcoin may benefit from this trend. After the cryptocurrency’s upcoming halving, after which the coin will have “economically indisputable reasons” to become a legitimately competitive store of value versus other world currencies.Connection Between Halving and InflationMay 2020, Bitcoin…
On May 9th, 2020, the 630,000th Bitcoin block will be mined, during which mining rewards will get cut in half to 6.25 BTC per block. And typically, speculation on how this will affect the Bitcoin price is rife.On the one hand, some believe the halving event is priced in, meaning there will be no room…
The Bitcoin network hash rate has reached an all-time high at 126 quintillion hashes per second. By comparison, this time last year, the network was hashing at just 38 quintillion hashes per second.However, of more considerable significance is what this indicates. And that is a trend towards increasing miner confidence. As such, concerns over miner…