Tuesday, 7 July 2020

What Is Bitcoin Halving: Full Guide For Beginners ( Infographic )

By Abishai James at WinBTC.net

bitcoin halving


 
Section Guide
* What is Bitcoin Halving?

* Next Bitcoin Halving

* Why is Bitcoin Halving Done?

* How does Bitcoin Halving Work?

* Will Bitcoin Halving Affect the Bitcoin Price?

* How many Bitcoin Halvings Will Take place?

* What happens when 21 Million Bitcoins have been mined?


 Bitcoin halving is often referred as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.
   Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

    The process of halvening started in the year 2012, approximately after 4 years of invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.
       After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

    The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.
      The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.
      To know the overview of Bitcoin Halving (Just in minutes), checkout the following infographic developed by Abishai James at WinBTC.net.






bitcoin halving

Wednesday, 1 July 2020

XRP Price Can Outperform Bitcoin in the Short Term — Here’s Why

By

 As Bitcoin's price continues to range sideways, the momentum may be shifting to XRP for the next big move.



Bitcoin's (BTC) sideward price action of late has been a hunting ground where whales can easily liquidate misinformed traders on leverage trading platforms. Without decent swings, any asset can become boring.
But let’s not forget BTC isn’t the only cryptocurrency out there, as several altcoins are currently staging somewhat of a comeback. However, there’s one coin that doesn’t seem to be having a good time lately, namely XRP, the fourth-largest digital asset by market capitalization.
So, in today's analysis, I’m going to look at whether holding XRP is likely to be more fruitful than BTC in the short term.



The bigger picture for Bitcoin

 Starting out with the weekly chart, one can see why the bears favor this timeframe. Bitcoin is forming a massive pennant that is far clearer now than it was before the March 12 black swan event. 

btc weekly chart


Typically, pennants break toward the end of the pattern, sometimes a little before. However, they are invalidated after. As things stand for Bitcoin, a breakout or breakdown could occur any time between now and approximately September 2021, 14 months from now.

With the current price around $9,156, a small 6% increase would put Bitcoin on the resistance line, and this is why we have failed to reclaim $10,000. But at this rate, reclaiming just $9,750 would be a welcome breakthrough for the bulls.

On the flip side, there is a massive 47.42% gap from the current price to the support of the pattern. This puts a figure of $4,500 as a potential target, which may be a great opportunity to stack some sats. But is this just wishful thinking from overly aggressive bears that shout “burn this Ponzi to the ground?”

Wednesday, 10 June 2020

Bitcoin Briefly Pops Past $10K as Fed Says Rates May Stay Near 0% Until 2022

By Daniel Cawrey

 

 

 

Bitcoin saw a quick, short-lived run past $10,000 after the head of the U.S. Federal Reserve said Wednesday that interest rates will remain near 0% until the end of 2022 and its bond buying program would continue. 


Bitcoin (BTC) was trading around $9,894 as of 20:00 UTC (4 p.m. ET), gaining 1.6% over the previous 24 hours. 
At 00:00 UTC on Wednesday (8:00 p.m. Monday ET), bitcoin was changing hands around $9,783 on exchanges like Coinbase. Its price dipped to as low as $9,709 at 09:00 UTC (5 a.m. ET) before buying volume picked up, pushing the price above its 50-day and 10-day moving averages, a bullish technical indicator.  



Speaking after the Federal Open Market Committee’s two-day June meeting, Chairman Jerome Powell said the central bank will likely keep interest rates near 0% until 2022. That sent bitcoin briefly to $10,000 before it dropped back.  

“There is great uncertainty about the future,” Powell said. “At the Federal Reserve, we are strongly committed to use our tools to do whatever we can for as long as it takes to provide some relief and stability to ensure that the recovery will be as strong as possible.” 

Cryptocurrency stakeholders see the Fed’s announcement of no changes as reason to buy bitcoin. “Liquidity can’t paper over insolvency,” said Scott Bambacigno, a vice prescient at crypto exchange software provider AlphaPoint, “When you are deep in debt, more debt isn’t going to help. The Fed can ‘print money’ but they cannot ‘print jobs’. Assets like gold and bitcoin should do well if the economy continues in this direction.” 

While the price did briefly pop, bitcoin’s brief run to $10,000 quickly lost steam. ”A lot of analysts may be looking for the Fed decision to move BTC, but It’s important to bear in mind that over a long time horizon bitcoin remains uncorrelated to traditional markets,” said Aaron Suduiko, a research analyst for crypto liquidity provider SFOX. 
Indeed, the upward trajectories of bitcoin seem totally unhinged from stock indexes like the S&P 500.