Bitcoin

The Historic Bitcoin Halving event has Finally taken place

The most awaited historic event of Bitcoin halving finally happened. The third Bitcoin halving event which was the third in its history took place and reduced the reward from 12.5 BTC to 6.25 BTC. The much- anticipated halving took place on Monday at 7.23 PM. Bitcoin currently is trading at $8500 with 67% dominance. 

The first Bitcoin block was created in 2009 and ever since there have been three halving events. The halving takes place once every 210,000 blocks are mined or once in 4 years. When halving takes place, the minter’s block reward is also halved. In 2012 when the first Bitcoin halving took place, the original reward was 50 BTC which reduced to 25 BTC. The second halving that took place 4 years later in 2016, reduced it further from 25 BTC to 12.5 BTC. And now with this halving, it has further reduced to 6.25 BTC. 

Bitcoin’s supply also is limited to 21 million coins and halving events should most probably continue till the year 2140. Until then the block reward should reach its smallest unit of 1 satoshi or 0.00000001 BTC. 

Bitcoin halving has been a topic of much discussion and consideration. Investors and speculators have associated Bitcoin halving with positive price movements and otherwise. Bitcoin halving previously also has affected Bitcoin’s price in a positive manner. Now, with the latest Bitcoin halving, there are many crypto experts who are predicting that the halving will have an impact on the pricing of Bitcoin as the supply also has been cut. Price and halving definitely are directly proportional, but the halving will surely render miners to stop with their Bitcoin generation as their mining devices will become obsolete. The VP of the mining pool Poolin’s also added that those miners who were unprofitable had already shut down their operations even before the halving event took place.

The foreseen halving and its countdown finally have happened. It will now be worth waiting for what is to follow after the event. The inflationary tendencies also get reduced due to halving. Whether the price correction will take place or the current trends will continue, it will surely be worth the wait. 

Image Source – Blockchain News

Top 3 Products To Use For Earning Maximum Profits During Bitcoin Halving

Bitcoin halving is fast approaching and it brings ample opportunities for earning profits. The volatility and speculation around the possible price movements can enable traders to make profits in a very short span of time. Bitcoin halving is a key feature that occurs every four years to create scarcity by halving new bitcoins per block. This is the third halving since the arrival of bitcoin in 2009. The previous two halvings resulted in a massive bullish trend for cryptocurrency.

The bitcoin halving generates a lot of attention attracting retail and new investors leading to a further rise in price. These can create massive opportunities for traders to maximize their profits. To help you reach your goals, here are top 3 products you should use to get the most out of bitcoin halving.

Koinfox

Koinfox is a first of its kind investment platform and exchange developed for common investors. This intelligent trading platform will allow you to invest in top exchanges globally with a click of a button. Imagine being able to place an order with no lag in time of volatility and generate profit instantly. Koinfox enables you to trader conveniently and quickly using its advanced order types and automation tools.  Presently, you can trade on Binance, KuCoin, and CoinDCX using this platform.

You can also reduce your risk by using the trailing stop loss feature provided by the platform. Additionally, there are multiple advanced order types that will empower you to implement your trading strategy without any associated hassles. You name it and Koinfox has it – you can place market or limit order with multiple target exits, or place an order with exits at desired profit levels, or even place conditional entry & exit orders.

If you are someone who would want to trade during bitcoin halving from your mobile phone while at work, Koinfox has got your covered. The mobile app offers features such as placing advanced orders, managing the portfolio and managing trade positions while ensuring secure exchange access. At this point in time, it is also offering special cashback. Check it out now.

Cryptominded

Bitcoin halving is an event that draws in new users who have never used cryptocurrency or blockchain technology. If you are new to the crypto space or are someone who wants to dive a bit deeper into cryptocurrencies before your start trading, then Cryptominded is the platform for you. It has all the resources that one would need to become an expert in cryptocurrencies. You can explore their guides, newsletters, and other resources to know everything you want to about cryptocurrencies.

Hardware Wallets

Not all investors are in for instant trading, some believe in purchasing before bitcoin halving and wait a few months before exiting with huge profits. For such investors, hardware wallets are essential cryptocurrency products to safeguard their assets. Veteran traders and investors know that leaving you funds on an exchange is never a good idea. Even if the exchange is renowned or has insurance against hacking, your funds are never completely safe.

The best and most secure way to store your crypto assets is by using hardware wallets. These are offline devices and cannot be hacked unless the hacker has physical access to the device. Ledger Nano S, Trezor, and KeepKey are some of the well-known hardware wallets to store your funds.

Bitcoin is not immune to corrections and volatility, but bitcoin halving is that uncertain time period that occurs every four years where smart traders make a lot of money. You can too maximize your profit using these 3 products.

Disclaimer: This article is for information only and should not be taken as investment advice.

Image Source – Pixabay

Bitcoin halving – A reason for people to HODL Bitcoin?

Bitcoin halving is scheduled on May 12th which means that it will be less than 10 days when this much expected will occur. Bitcoin halving event is when the number of generated bitcoin rewards per block will be exactly halved. This year the number of Bitcoin mined by miners per block will be halved from 12.5 to 6.25. The halving event is important and takes place roughly every 4 years that goes a long way in controlling the monetary policy. The event will also reduce the rate at which new coins will be minted thereby restricting the phase of inflation and supply.

The halving event that has seen its occurrence roughly once in 4 years or approximately once every 210,000 blocks will happen till the final coin is being minted. The halving event for Bitcoin that took place on November 28th, 2012 saw the reduction of block rewards from 50 BTC to 25 BTC. Later in July 2016, it was further reduced to 12.5 BTC. Now after this halving event, the annual inflation of Bitcoin will reduce from 3.65% to 1.8% which will approximately one-half of the global inflation rate as per the statement of Quantum Economics Founder Mati Greenspan.

The halving event will also make Bitcoin scarce in supply owing to its ceiling limit of 21 million coins. The current momentum of Bitcoin is encouraging but what it entails after the halving event will be difficult to say. The price history of bitcoin has been difficult to make for a thorough understanding of how prices will turn.

Analysts are also saying that the current bull run of Bitcoin can be attributed to the halving event as people are stocking extra BTC before the supply drops. Popular Crypto analyst Pedro Febrero is quite clearly highlighting that as per the Google trends the activity surrounding Bitcoin today is nothing compared to what it was in 2017. This could be the lack of new entrants but increased activity of the already existing Bitcoin investors. It is an attempt to capture as much as possible Bitcoins before the halving takes place.

With Bitcoin halving, we will also see the increase in the overall money supply as central governments will endeavor to print more currency to tackle the money crisis and fund the COVID-19 crisis. 

Image Source – howstuffworks

Pompliano expects a 1420% bitcoin bull run by Dec 2021

The founder of Morgan Creek Digital Anthony ‘Pomp’ Pompliano who is an influential figure in the cryptocurrency industry has suggested that considering the present global economic climate Bitcoin will surely get a boost that will push bitcoin to its zenith. He said in an interview on a popular Youtube channel Tech with Catalina that he is expecting bitcoin to experience a huge 1420% bull run.

In the interview, he also spoke about several aspects that also includes DeFi or Decentralized finance or halving wherein Bitcoin’s block subsidy gets cut into half. He also spoke about the future prospects of the US digital dollar and what is expected of its performance.

But the highlight of the interview were his opinions and thoughts on the future price of bitcoin. He believes that the current dismal economic climate along with Bitcoin halving will be a guide point towards a Bitcoin bull run.

In another fresh run of hope, it was also reported that Americans are indeed buying crypto with their economic stimulus package. The US government has already started providing $1200 stimulus checks to those who are eligible. It has been observed that an increasing number of American citizens have resorted to trust and invest in Crypto giving it a push. The Bitcoin halving event which is expected to take place in about a month will result in Bitcoin price reaching an inflection point.

The halving of bitcoin will guide the supply such that it will become half of what is being traded but according to the Stock-to-flow model the price could increase manifold. Pompliano has suggested that it could rally by a gigantic 1420% to $100,000. 

The bullish sentiment guided by Bitcoin could be a driving factor in the increase in the price of Bitcoin. Pompliano also said that the increase will be cumulative at the beginning which will later become more material. The prediction to $100,000 could be achieved by December 2021 within the first 18 months after bitcoin halving.

The Bitcoin halving with US quantitative easing will drive the Bitcoin price as expected by Pompliano and also many others in the crypto industry. 

Image Source – SOMAG News

U-Turn For Chinese Bitcoin (BTC) Miners

China may be tough on Cryptocurrency trading; however, Bitcoin mining is seen to be a significant operation amongst Chinese cryptocurrency enthusiasts. In the last few months, BTC miners have been slowly fading off in China due to the bear markets, even going to the extreme of selling off their mining equipment by the kilos.

According to 8btc, a Chinese blockchain and crypto news source,  miners in China have been stocking up on Application-Specific Integrated Circuit (ASIC) chips. The main reason cited is the anticipation of the Bitcoin halving which is expected in May 2020.

Current Bitcoin Mining Profitability

As of now, Bitcoin mining may have almost zero profits. However, as the halving gets closer, it is expected to rise dramatically.

Bitcoin’s halving is expected to reduce inflation by 50%, and according to past statistics, Bitcoin will rise in price. Currently, miners receive 12.5 Bitcoins per block mined, and this will further drop to 6.25 Bitcoins in the next halving.

Companies such as Bitmain has faced a severe turn of events due to the bear markets in Cryptocurrency, with significant downsizing and delays in their IPO. However, with things picking up, Bitmain may start to walk.

Chinese Bitcoin Miners Getting Creative

The Chinese Bitcoin miners are doing all they can to reduce the costs of mining. From negotiating the best rates of buying used mining equipment to making deals with hydroelectric plants and mining farms.

Hydroelectric plants are bound to gain excess electricity generated thanks to a heavy rainy season this year.

It’s pretty clear bull season is around the corner, and both Cryptocurrency investors and miners are getting ready.  Mining equipment makers, on the other hand, will not profit as much as second-hand mining equipment are rising in demand.

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