The price of Bitcoin (BTC) increased from $7,700 to $9,500 in merely 48 hours from Wednesday to Thursday, rising by more than 22%. The market has cooled down since, with the dominant cryptocurrency dropping back below $9,000. All key data points — such as spot market data, futures volume and institutional demand — suggest that the rally from the $3,000s to the $8,000s was purely organic. It was driven by actual demand from retail investors, and possibly whales, leading up to the Bitcoin block reward halving. Whether the rapid upsurge from $8,000 to $9,500 was organic or caused by spoof …

About 37% of the cryptocurrency community expects Bitcoin’s (BTC) hashrate to be higher one month after the block reward halving than it currently is, according to a recent poll. Cryptocurrency portfolio tracking application, Blockfolio, polled its users on April 27. They asked whether they believe Bitcoin’s hash rate will be higher or lower one month after the halving. The community has a positive outlook Blockfolio’s question was answered by over 8,000 users. Among the respondents, 37% believed that the hashrate would be higher, 29% that it would be lower, and 17% that it would be the same. The remaining 17% …

For over a month, the global crypto community has been talking about the upcoming Bitcoin halving event with great gusto. However, because of the economic slump that has affected the entire planet at the moment from the spread of the novel coronavirus, it seems as though this halving may not have as big of an impact on the premier cryptocurrency’s value when compared to previous fluctuations. With that being said, despite many traditional assets, such as oil and stocks, slipping in value quite heavily since the beginning of March, Bitcoin (BTC) seems to be experiencing a strong wave of pre-halving …

Bitcoin (BTC) remains the top ranked cryptocurrency on CoinMarketCap and as the third block reward halving is set to occur in 14 days, investors are hopeful that the price will find a path to a new all-time high. This is because the block reward halving is usually preceded by a powerful rally that many have long forecast would bring the digital asset to a new all-time high. Surprisingly, Joe007, one of the biggest Bitcoin whales in the cryptocurrency market, has implied that the halving is already priced in, which may leave the cryptocurrency vulnerable to a crash. In a sarcastic …

Over the course of the past month, the crypto world has understandably been abuzz with talks of the upcoming Bitcoin (BTC) halving event that is scheduled to take place in a little over two weeks. For starters, it is undoubtedly one of the most — if not the most — anticipated crypto events of 2020. However, due to the COVID-19 pandemic, many analysts are still not sure if the event will have a substantial impact on the monetary future of Bitcoin. It is interesting to note that while a number of other traditional assets have seen their values drop quite …

The price of Bitcoin (BTC) has been stagnating between $6,600 and $7,200 for a few weeks, but finally, a breakout occurred to the upside, which meant a 10% push towards $7,750. But Bitcoin is not the only cryptocurrency that has been showing strength as altcoins are also following suit with Cardano (ADA) jumping by 22% and Ethereum (ETH) by 16%. So what can be expected from the markets with just over two weeks before the halving for Bitcoin? Crypto market daily performance. Source: Coin360 Bitcoin breaks crucial $7.2K resistance but faces $7.8K next The price of Bitcoin was stagnating between …

Block halvings only occur every four years. Bitcoin's third halving is set to take place in May 2020, but is the event already priced in? Twitter personality, The Crypto Dog, recently asked the community to weigh in. "Do you think the halving is priced in?" the trader asked the crypto community in an April 22 Tweet. This time is different Every four years, Bitcoin's code dictates a 50% block reward slash. In May, Bitcoin's mining reward will drop from 12.5 BTC, to 6.25 BTC per block. In theory, this will cause a deflationary event. The potential for this outcome has …

Bitcoin (BTC) hodlers are accumulating more coins every day than any time in over a year, as crypto investment looks increasingly attractive. According to data from monitoring resource Glassnode on April 23, this month saw a significant increase in BTC positions. Hodler position change hits 75,000 BTC per day Known as Hodler net position change, the data shows that long-term Bitcoin investors are in bear market mode, seeking to buy up coins at what they consider to be a bargain price point. The metric originally came from Bitcoin alpha fund Adamant Capital, which equated the activity behind it roughly to …

With the Bitcoin (BTC) halving less than 20 days away, some analysts predict that an inflow of capital will accompany the run-up to the event then reduced selling pressure at below-production prices thereafter will catalyze a bullish trend for BTC price. However, Bitcoin options data tells a different story. Let’s take a closer look. Options open interest on the rise According to Skew, open interest in BTC options contracts has been increasing since the beginning of April with Deribit holding the majority of the market share. The total BTC options open interest is currently $623 million. Open interest has been …

As the Bitcoin price dropped to sub-$7,000, technical analysts pointed out that BTC broke down from a crucial trendline dating back to March 16. While markets signal for short-term relief, traders foresee a severe pullback occurring for two key reasons despite less than three weeks remaining before the much-anticipated Bitcoin halving. The two compelling cases for a Bitcoin correction in the foreseeable future are a breach of a major trendline signaling overhead resistance and a lower high pattern at a high time frame. Bitcoin breaks an important trendline dating back 40 days. Source: TraderXO Challenging for Bitcoin to recover on …

As May approaches and Bitcoin’s next halving draws near, hodlers, traders, and investors are all keen to know how this quadrennial event will affect the price of the world’s foremost cryptocurrency. To delve further into the halving, we talked to traders Michaël van de Poppe and Scott Melker (aka The Wolf of All Streets) on our latest crypto markets show. The discussion also covered short term bullish and bearish scenarios for both Bitcoin and the stock market, why Bitcoin is still a non-correlated asset, and how trust in the U.S. dollar could wane in the coming years. Bitcoin’s Unlikely Halving …

The cryptocurrency and equity markets have seen a relatively stable week, as the volatility and volume drained away from both markets. Bitcoin (BTC) has been moving between $6,600 and $7,300 and hasn’t been showing direction. On the other hand, the volume is starting to drop significantly in the markets. Such a stable movement and compression combined with low volume generally leads to a big move to occur with just 24 days until the Bitcoin halving. Crypto market daily performance. Source: Coin360 Bitcoin flirting with the 100-Week MA to break BTC USD 1-week chart. Source: TradingView The weekly chart of Bitcoin …