As Bitcoin’s halving event on April 19th draws near, miners are doing something unusual. Instead of selling off their coins like they did before the 2016 and 2020 halvings, they’re holding on tight. Miners Accumulating Bitcoin Data shows that since the start of 2024, miners have added over 12,000 BTC to their holdings, bringing their…
Revenue Model Ethereum generates revenue by charging transaction fees to users. These fees are burned, reducing the supply of ETH and increasing its value. The blockchain also issues new ETH as rewards to validators, but this dilutes the holdings of existing ETH owners. Reduced Transaction Costs The Dencun upgrade and the introduction of blobs reduced…
Crypto investment firm Bitwise warns that the market may be underestimating the long-term price effects of Bitcoin halvings. Halving History After previous halvings in 2012, 2016, and 2020, Bitcoin’s price initially rose or fell modestly in the first month. However, it soared in the following years: 8,839% after the 2012 halving 285% after the 2016…
Bitcoin Crypto trader Ali Martinez believes Bitcoin (BTC) could rise by 36% if it breaks above a key resistance level of $72,400. However, a drop below $61,000 could lead to a 18% decline. Ethereum Ethereum (ETH) has a support level between $2,000 and $2,430. Martinez predicts a potential pullback of 18% before an upward trend….
Cryptocurrency analyst Benjamin Cowen believes Ethereum (ETH) will continue to struggle against Bitcoin (BTC) in the short to medium term. ETH/BTC Pair to Fall Further Cowen predicts that the ETH/BTC pair could drop up to 38% from its current level, as Bitcoin’s dominance strengthens. At the time of writing, ETH/BTC trades at 0.04869000 BTC ($3,070)….
Cryptocurrency analyst Kevin Svenson believes Bitcoin (BTC) is still on an upward trajectory, despite recent setbacks. Exponential Trend Intact According to Svenson, as long as Bitcoin holds above the $50,000 support level, the parabolic trend remains intact. He explains that Bitcoin’s lows are currently exponential, indicating a continued upward trajectory. Cautionary Note However, Svenson warns…
Post-Halving Surge Crypto expert Collin Brown predicts a massive rally for Bitcoin after the upcoming Halving event. This event, scheduled within the next 48 hours, will reduce the reward for mining Bitcoin blocks by half, from 6.25 BTC to 3.125 BTC. Brown believes that this Halving will trigger a similar growth pattern to the previous…
Analyst’s Insights Crypto Rover, a crypto analyst, predicts that if Bitcoin drops below $58,000, it could signal a breakdown. However, he believes there’s enough liquidity in the market to help Bitcoin recover above $60,000. Optimism for Recovery Rover remains optimistic about Bitcoin’s recovery, stating that he would buy long positions if it drops between $57,000…
Massive Sell-Off The Bitcoin market has been battered by heavy selling pressure in recent weeks. Amidst the turmoil, a colossal Bitcoin transaction has sent shockwaves through the market. Whale Dumps $1 Billion Whale tracker Whale Alert reported a massive Bitcoin transaction involving 16,276 BTC, worth approximately $1 billion. Such large transactions are not uncommon, but…
Despite rising inflation and fewer expected rate cuts from the Federal Reserve, Bitcoin remains positive. No Rate Cuts, No Problem The bond market now expects only three rate cuts this year, down from six. This shows that the market doesn’t think the Fed can control inflation. Fed’s Rate Hikes May Be Stimulating the Economy A…
