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

Derek Andersen3 hours agoUS CFPB proposes supervising digital app providers, including crypto walletsThe proposal would affect retail transactions carried out from crypto wallets, but not crypto trading.1101 Total views5
Down From the Peaks: A Look at How Far Crypto Assets Have Slid From Their All-Time Highs
Down From the Peaks: A Look at How Far Crypto Assets Have Slid From Their All-Time Highs Digital currencies had a phenomenal year, and a great deal of the crypto assets in existenc
Pandemic Drove Adoption but Information Dissemination Just as Important: Kenya-Based Blockchain Advocate
Pandemic Drove Adoption but Information Dissemination Just as Important: Kenya-Based Blockchain Advocate The adoption of blockchain technology and the use of cryptocurrencies by pe
Victory of President-Elect ‘Lula’ in Brazil Might Bring the Rise of a Common Currency for Latam
Victory of President-Elect "Lula" in Brazil Might Bring the Rise of a Common Currency for Latam The victory President-Elect Luis Inacio Lula Da Silva obtained on Oct. 30 over the i
Ticino Blockchain Technologies Association Has Been Established
Ticino Blockchain Technologies Association Has Been EstablishedLugano, 10 September 2020 – The Ticino Blockchain Technologies Association aims to promote research and support
Nigerian Inflation Rate Rises to 20.52% in August — Month-on-Month Rate Drops
Nigerian Inflation Rate Rises to 20.52% in August — Month-on-Month Rate Drops While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in Augus
2,200 letters of support for ‘Bitcoin Strategic Reserve’ bill sent to US senators
Amaka Nwaokocha13 hours ago2,200 letters of support for ‘Bitcoin Strategic Reserve’ bill sent to US senatorsSenator Cynthia Lummis introduced the bill on July 31, which would direct the US government to start a reser
Sensorium’s Senso Token Lists on the Top Ten HitBTC Cryptocurrency Exchange
Sensorium’s Senso Token Lists on the Top Ten HitBTC Cryptocurrency Exchange The move follows a similar listing on the KuCoin exchange and will drive further usage of cryptocurr
Meta’s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2
Meta"s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2 Meta, the social media company, has reported that its metaverse division, the Re
Bitcoin halving hype breaks week-long ETFs outflow streak
Arijit Sarkar2 hours agoBitcoin halving hype breaks week-long ETFs outflow streakFive of the 10 approved ETFs recorded positive inflows that overshadowed the GBTC outflows, bringing in a total of $30.4 million to the spo
Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%
Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20% Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices
Bitcoin’s rally to $72K took miner revenues to record highs
Nancy Lubale5 hours agoBitcoin’s rally to $72K took miner revenues to record highsMiners saw revenues climb to roughly $78.89 million on March 11, the same day the BTC price broke new all-time highs.1124 Total views12