Fun

News Feed - 2023-11-20 09:11:14

Prashant Jha11 hours agoCrypto community begins Bitcoin halving countdown as milestone date nearsThe CEO of Binance and BTC analysts are among those who have started to draw attention to the halving event as the crypto community looks to the bullish event with hope after a cruel crypto winter.7403 Total views36 Total sharesListen to article 0:00NewsJoin us on social networksThe crypto community and many of its most high-profile players have started shifting focus toward the Bitcoin halving, an event that occurs every four years and cuts the market supply of new Bitcoin (BTC) in half.


At the next halving event scheduled for April 2024, the Bitcoin mining reward will reduce from the current 6.25 BTC per block to 3.125 BTC per block.


Binance CEO Changpeng Zhao took to Twitter to set the countdown for the next halving in an X (formerly Twitter) post to remind everyone that the next BTC halving event is only 135 days away.#Bitcoin halving soon. pic.twitter.com/xp4mWyMKkD— CZ Binance (@cz_binance) November 19, 2023


Historically, the Bitcoin halving is linked to bullish momentum for the BTC price due to supply and demand dynamics. The halving of new supply amid growing demand usually pushes the BTC price to new highs in the months following the halving.


Two months prior to the last halving event in May 2020, the Bitcoin price was trading at less than $10,000. As the event drew closer, bullish momentum saw BTC’s price surpass the previous cycle’s all-time high of around $17,000. After the halving, the BTC price broke into parabolic momentum and created an all-time high of almost $69,000.


Popular trader and analyst Rekt Capital also took to X to elaborate on the different phases of a BTC bull cycle. The analyst divided the timeline into pre-halving and post-halving events, highlighting that approximately 60 days before the halving, a pre-halving rally tends to occur as investors tend to “Buy the Hype” to “Sell the News.”


However, the euphoric price surge in the pre-halving period is usually followed by a retracement around the time of the actual halving. In 2016, the pre-halving retracement was 38%, while the 2020 pre-halving retracement was 20%.


The pre-halving pullback is often followed by a multi-month reaccumulation phase during which the BTC price rises and falls, with little gains during a period of stagnation. Many investors get shaken out in this stage due to boredom, impatience, and disappointment with their BTC investment’s lack of performance in the halving’s immediate aftermath.Bitcoin halving cycle phases. Source: X/Rekt Capital


The accumulation phase is then typically followed by a parabolic surge, in which Bitcoin breaks out from the reaccumulation area to hit new highs. During this phase, Bitcoin experiences accelerated growth on its way to new all-time highs.# Bitcoin# Blockchain# Cryptocurrencies# Changpeng Zhao# Bitcoin HalvingAdd reactionAdd reactionRead moreExpect some crypto companies to fail in the wake of Bitcoin"s halvingBoosting blockchain adoption by keeping tech on the back endRising M2 money supply will see crypto become ‘supermassive black hole’ — Raoul Pal

News Feed

Following French Montana, Vietnam’s Number 1 Celebrity Singer Son Tung M-TP Joins RACA’s USM Metaverse
Following French Montana, Vietnam"s Number 1 Celebrity Singer Son Tung M-TP Joins RACA"s USM Metaverse press release PRESS RELEASE. The Vietnamese music celebrity’s videos ha
Ezra Reguerra10 hours agoRipple joins BIS cross-border payments task forceThe task force is a part of the Bank of International Settlements’ Committee on Payments and Market Infrastructure.2540 Total views16 Total shar
Technical Analysis: Flow Climbs Close to 30% to Enter Top 50
Technical Analysis: Flow Climbs Close to 30% to Enter Top 50 Flow is trading almost 30% higher on Saturday, as the majority of the crypto top 100 are in the green. Today’s m
‘Baby AGI’ could be a reality in early 2025: SingularityNET founder
Andrew Fenton8 hours ago‘Baby AGI’ could be a reality in early 2025: SingularityNET founderThe “complete toolset” to making the precursor to a fully functioning Artificial General Intelligence might be only about
Middle East accounts for 7.5% of global crypto volume — Chainalysis
Vince Quill7 hours agoMiddle East accounts for 7.5% of global crypto volume — ChainalysisAccording to the World Bank, less than 50% of adults in the Middle East and North Africa region had access to adequate banking se
Bitcoin post-halving price consolidation could last 2 months — Bitfinex
Gareth Jenkinson13 hours agoBitcoin post-halving price consolidation could last 2 months — BitfinexThe Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but ana
Standard Chartered to Launch Crypto Custody Service for Institutional Investors Next Year
Standard Chartered to Launch Crypto Custody Service for Institutional Investors Next Year SC Ventures, the innovation and ventures unit of Standard Chartered, wi
New Solana feature allows crypto transactions on any website
Ana Paula Pereira11 hours agoNew Solana feature allows crypto transactions on any websiteSolana Actions and blockchain links will allow users to create and share transactions via a URL on websites, social media platforms
Pan-African Exchange Yellow Card Raises $15 Million in Latest Funding Round
Pan-African Exchange Yellow Card Raises $15 Million in Latest Funding Round Yellow Card, an Africa-focused crypto exchange platform, recently announced a capital raise of $15 milli
$250 Trillion in Assets Looking for Ideal Store of Value: A Bull Case for Bitcoin
$250 Trillion in Assets Looking for Ideal Store of Value: A Bull Case for Bitcoin The CEO of Nasdaq-listed billion-dollar company Microstrategy has made a strong
Dogecoin Leads The Pack As Dog-Themed Coins Rally – “Trump Effect” Sparks Excitement
Este artículo también está disponible en español. The cryptocurrency market is buzzing as President-elect Donald Trump’s inauguration day (January 20) sparks renewe
Tom Mitchelhill7 hours agoReddit to wind down blockchain-based rewards service ‘Community Points’Reddit will shutter its Community Points feature on Nov. 8, citing scalability issues.1315 Total views13 Total sharesLi