Sunday, 10 May 2020

Bitcoin halving fears intensify, Coinbase crashes

by Ifeanyi Egede


Bitcoin is now hovering around the $8,000 mark barely two days after smashing the resistance at $8,850 to make the jump above $10,000. Sellers have been pushed on the leading exchange platform, Coinbase, to sell their assets.
The bulk of sales orders has, in turn, caused the exchange platform to crash; the second time, it will happen in two weeks. With the Bitcoin halving set to occur in a matter of days, traders don’t want to be around if the events go sideways.

Impending halving generates massive buzz


The waves that the third Bitcoin halving that is happening in a couple of days is generating has caused effects in the digital market. While some analysts argue that the leasing crypto would go the way the previous halving has gone by a surge in price, other analysts were quick to warn that the odds don’t favor a Bitcoin price surge this time around. The buzz has caused the price of Bitcoin to decline since it experienced a massive price surge in the previous weeks.


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