Bitcoin’s third-ever mining rewards halving event concluded yesterday, subsequently reducing the block rewards for miners by 50%
Much to the chagrin of traders, this event did not lead to any notable volatility, as BTC has continued to experience rangebound trading in the upper-$8,000 region
Analysts are now noting that BTC’s market structure does remain bullish so long as it is trading above $8,300
Despite this, the crypto could soon be subjected to months of consolidation as its halving hype fades
Bitcoin’s halving event concluded yesterday, with some traders being disappointed by the lack of volatility seen in the time before and after the event took place.
It is important to note that the period of consolidation that the benchmark cryptocurrency has seen in the time following its recent rejection at $10,000 has favored bulls.
This is due to its market structure remaining strong as long as the crypto is trading above $8,300 – according to one analyst.
In spite of this, there is a possibility that it will begin entering a mid-term bout of consolidation as hype surrounding the halving fades, and this could give altcoins some room to gain ground against Bitcoin.
Bitcoin Continues Trading Sideways Following Halving; Market Structure Remains Bullish
At the time of writing, Bitcoin is trading down just under 2% at its current price of $8,740.
This marks a slight decline from overnight highs of just under $8,900, and an even more drastic regression from weekly highs of over $10,000.
Although the crypto is still trading well below its recent highs, it is imperative to note that the downtrend following the rejection at $10,000 has been tempered, elucidating that bulls may be bolstered by significant underlying strength.
In the near-term, if buyers want to remain in control of Bitcoin, they must continue holding it above $8,300.
One popular pseudonymous trader offered this analysis in a recent tweet, explaining that he is bull-biased as long as the crypto remains above this level.
“On the greater scheme of things, bias is bullish as long as price is above 83xx,” he noted.
The chart seen below shows that this level has proven to be significant on multiple occasions throughout the past several months.
Image Courtesy of Teddy
BTC May Enter Prolonged Bout of Consolidation
Bitcoin’s recent uptrend has caused it to gain serious ground against altcoins, with many shedding a significant amount of their value against their BTC trading pairs.
One analyst now believes that the benchmark crypto’s volatility will soon subside, leading it into a multi-month bout of consolidation.
“I expect the volatility to drain away on BTC, as the hype is over. Through that, the price of BTC can range for several months, before any major move occurs,” he explained.
He further went on to add that this will give altcoins a chance to “get their movements.”
Featured image from Unplash. origin »
Pioneers! We are distributing the BTC rewards of the Darwinia Polkadot Slot Auction. Thanks for supporting Darwinia Network! Pioneer List According to the rules, up to block # 8,263,710, the list is as follows: Claim BTC Rewards Go to Darwinia PLO Page, connect your wallet and there will be a button below the BTC Rewards of your contribution […]
The post BTC Rewards Release Now! appeared first on NFT News Today.
May 11, 19:23 UTC saw Chinese-based miner Antpool produce block 630,000 on the Bitcoin network, triggering Bitcoin’s third halving that drops block rewards from 12. 5 BTC to 6. 25 BTC The 2020 halving, happening in circumstances reminiscent of the 2008 financial crisis, cuts mining rewards by 50%.
Coinspeaker Third Bitcoin Halving Is Finally Here, BTC Hovering Around $8700 NowWith the latest Bitcoin halving, the BTC mining rewards have reduced from 12. 5 BTC to 6. 25 BTC. Since its last halving in 2016, the BTC price has appreciated 1200% so far until the third event.
About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards. The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus paid to miners for solving mathematical puzzles that underpin the […]
The post Up to 30% of Bitcoin Miners Close Shop as Business Turns Unprofitable After Halving appeared first on Bitcoin News.
The month of May is here, which means that we are not too far from Bitcoin's much-anticipated 3rd halving.
On 12 May 2020, Bitcoin's block rewards would be slashed to 6.25 BTC, with the same potentThe post Is Bitcoin priced in at $9500 before halving or is there more to come? appeared first on AMBCrypto.
As Bitcoin’s mining rewards halving fast approaches it appears that some notable investors are taking notice Data suggests that large regulation-sensitive institutions are going long on BTC This comes in tandem with a massive spike in accumulation rates from Bitcoin whales, signaling that investors across the board are anticipating some bull-favoring volatility Bitcoin’s highly anticipated mining rewards halving event is less than two weeks away, and cryptocurrency investors are on the edge of their seats […]
Bitcoin’s upcoming mining rewards halving has been looked upon as a potentially bullish catalyst for the cryptocurrency for years, with many investors predicting that the impact it has on its miner dynamics will help boost BTC’s price.
Bitcoin’s implied volatility has been caught within a consistent downtrend throughout the past several weeks This comes as global instability mounts and as BTC’s mining rewards halving fast approaches Following the massive volatility seen in mid-March when the cryptocurrency declined from roughly $8,000 to lows of $3,800 in an unprecedented movement, Bitcoin’s implied volatility has been consistently declining.
A new Visa-backed card offers users the prospect of earning rewards in the form of Bitcoin (BTC) instead of traditional reward points. The startup behind the app – Fold – has joined the Visa Fast Track Program to make such an arrangement possible, Fortune reports, April 9, 2020.
On April 8, Bitcoin Cash (BCH) underwent another halving, reducing its block rewards from 12. 5 to 6. 25 BCH per block. The decreasing block reward could be an issue going forward, since the on-chain metrics for BCH look grim, and a movement of miners to BTC is already taking place.
Bitcoin (BTC) will boom in this new cycle to hit over $100K. That’s the prognostication of one on-chain analysis expert, Willy Woo. Woo recently sat down with Max Keiser to discuss things such as the current bull market, impact of May rewards halving and on-chain analysis.
The anticipation for the block reward halving for BTC, BCH, and BSV has been building. All three cryptocurrencies will see rewards halved from 12. 5 to 6. 25 coins throughout the months of April and May.
Lolli, a Bitcoin (BTC) powered app that rewards users with BTC when they shop at supported merchants, has revealed that it is currently working with more than 950 merchants across the world, with the sole aim of introducing the flagship digital currency to millions of consumers, according to reports on February 19, 2020.
Last month, BTC.TOP’s Jiang Zhuoer had announced his plan to implement an ‘Infrastructure Funding Plan’ (IFP) for Bitcoin Cash, which aimed to direct 12.5% of BCH mining rewards to a fund that wThe post Bitcoin Cash infrastructure funding plan wasn't 'signed' by Roger Ver appeared first on AMBCrypto.
In May 2020, Bitcoin will undergo its third halving event, reducing the block rewards from 12. 5 BTC down to 6. 25 BTC. At this time, the BTC inflation rate will fall to its lowest-ever levels as fewer newly minted bitcoins enter circulation.
Bitcoin’s mining rewards halving event has long been looked towards as a bullish fundamental event that would catalyze a massive BTC uptrend due to the resulting inflation reduction. In spite of this, one prominent angel investor is now noting that the supply reduction resulting from this event will be “tiny,” and that it is highly... The post appeared first on NewsBTC.
Bitcoin Cash mining pools had mixed reactions to BTC.top CEO Jiang Zhuoer’s proposal to have them donate 12.5% of mining rewards to fund the blockchain’s development. Outcries of "taxation" and "eThe post 51% of Bitcoin Cash mined since yesterday went to BTC.top appeared first on AMBCrypto.
On Feb. 1, 2020, Jiang Zhuoer of BTC.TOP, the operator of a powerful mining pool in the Bitcoin Cash ecosystem, revised his stance on the controversial miners’ donation. He had...The post Bitcoin Cash Miner Revises Rewards Tax, Community Still Skeptical appeared first on Cryptocurrency News.
"Bitcoin Blast," a puzzle game that rewards players with BTC, was kicked off the Google Play store with little explanation, said the game's developers.
Bitcoin Cash miners have been left with a bitter taste in their mouths after BTC.TOP's CEO Jiang Zhuoer published his proposal to direct 12.5% of mining rewards to support the BCH infrastructure over The post Bitcoin Cash miners threaten to fork unless funding proposal is withdrawn appeared first on AMBCrypto.
Since Btc. top founder Jiang Zhuoer revealed an infrastructure funding proposal from five major mining pools last week, which would fund BCH devs via redirection of 12. 5% of BCH coinbase rewards, the Bitcoin Cash community has been understandably bustling with debate, discussion, and suggestions.
On Wednesday, Btc. top founder Jiang Zhuoer disclosed that five mining operations had plans to donate roughly $6 million in coinbase rewards (depending on market prices) to developers building Bitcoin Cash infrastructure.
It has been suggested by BTC.Top CEO Jiang Zhuoer and a cartel of other miners, that a 12.5 percent tax be imposed on Bitcoin Cash (BCH) block rewards for development fees on the protocol. This comes with a threat of orphaned blocks for those who don’t adhere to the payment and an overarching feeling of […]
The post Bitcoin Cash Proposed Miner Tax Could be a Suicidal Move appeared first on BeInCrypto.
Jhiang Zhuoer, CEO of BTC.TOP, a major BCH mining pool, has revealed that top miners have agreed on a proposal to divert 12.5% of the network’s block rewards to infrastructure development. A Controversial Take on Development Funding Bitcoin Cash is about to embark on yet another string of contentious decisions as the top mining pools […]
The post Mining Pools Collude to Fund Bitcoin Cash Infrastructure appeared first on Crypto Briefing.
A group of Bitcoin Cash mining pool operations have decided to help fund BCH infrastructure development. On January 22, Btc. top founder Jiang Zhuoer revealed that five mining pools are preparing a short-term developers donation plan.
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.
Cryptocurrency lending startup BlockFi is set to expand its suite of products in 2020, starting with a Bitcoin (BTC) rewards credit card, Cheddar reports, January 2, 2020. BlockFi to Expand Its Crypto Arsenal BlockFi, a U.
BlockFi, a cryptocurrency lending service backed by Winklevoss Capital, Galaxy Capital and ConSenSys Ventures among others will be coming with its newest product, the BTC rewards credit card, announced the company in its letter from founders where it reflects on 2019 and what to expect in 2020.
Bitcoin’s upcoming mining rewards halving – which is slated to occur in May of 2020 – has long been looked upon as a catalyst for next major BTC bull run, primarily due to the historical precedent of these events.
Bitcoin’s upcoming mining rewards halving has long been looked upon as the most immediate impetus for the next BTC bull run, and the hopes that have been pinned on this event have only inflated in recent times as the cryptocurrency remains caught within a firm downtrend.
Криптовалютная биржа Binance заключила партнерство с австралийской платформой TravelbyBit, которая предоставляет возможность бронирования отелей и авиабилетов за криптовалюту. Согласно опубликованному в Twitter сообщению, компании планируют совместно разработать и выпустить криптовалютную дебетовую карту.
As it stands, the next block reward halving is expected to occur in mid-May 2020, at which point the reward will be reduced from the current 12. 5 BTC, down to 6. 25 BTC per block. By extrapolating forward, it is possible to calculate what the block reward will be at future halving dates.
Miners made the biggest withdrawal of funds in 2019, just as Bitcoin price was fighting its last to keep above $8,000. The accelerated selling of rewards may look like an episode of miners capitulating.
Bitcoin’s block reward halving is an event in which the rewards given out to BTC miners are cut in half. The next one is projected to occur in May 2020. The Bitcoin price movement before and after halving has had similarities between the first and second events.
CoinMarketCap Daily Newsletter Your daily newsletter for 18 November, 2019 “The best way to make your dreams come true is to wake up.” – Paul Valery In today's newsletter, we will be covering: Bitcoin (BTC) rewards app Lolli responding to […]
The post Venezuela to pay pensioners their bonuses in Petro appeared first on CoinMarketCap.
The affiliate retail startup Lolli has started a new partnership with the Chinese e-commerce giant Alibaba. Now, Alibaba will offer Bitcoin (BTC) rewards for clients who use Lolli to make purchases.
Bitcoin [BTC] and Ethereum [ETH] have been dominating most blockchains in terms of overall fees. However, as Bitcoin approaches its halving in 2020, the block rewards will see a decline. This is true The post Ethereum mining revenue notes 4.
One of the most significant events in Bitcoin’s lifetime is set to occur for the third time in May 2020. Will the halving event cause a crash or boom in the market? How will miners adjust to half of their revenue being cut? The halving of Bitcoin (BTC) and Bitcoin Cash (BCH) block rewards from […]
Antpool and BTC. com have lost a bit of their old glory, significantly shrinking the share of Bitcoin block rewards on a daily and weekly basis. The BTC mining pools, headed by Bitmain, are still among the top four miners but have ceded their leadership to F2Pool and Poolin.
A Bitcoin block reward is the new BTC granted as a reward by the network to miners. Every 210,000 blocks, the network goes through a “halving” — an event in which the rewards for mining are cut in half.
Bitcoin is about to halve its rewards soon and the crypto community is speculating about what will happen. After the two first halvings, which occurred in 2012 and 2016, another one is being expected for 2020.
Japanese crypto exchange Coincheck, in partnership with E-net Systems, has launched a program to reward gas users in the Tokyo area with Bitcoin. Consumers will be able to receive bitcoin based on gas consumption or directly pay their bills with the popular cryptocurrency.
Owner of popular Japanese crypto exchange Coincheck, Monex Group, has now announced it will reward shareholders in the company with crypto. Shareholders are to receive a BTC dividend provided they have a Coincheck account.
Bitcoin is 255 days away from its block rewards halving, which will decrease the BTC miners receive per block. Based on historical data, the coin experienced high levels of price volatility before and after the event, making it a good time for traders.
Lolli is giving the dog lovers a reason to celebrate this International Dog Day with even more gusto. The bitcoin rewards site and browser extension has partnered with Petco, Petco Animal Supplies to allow users to receive up to 3.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
