Halving
Bitcoin gained 300% in year before last halving — Is 2023 different?
Bitcoin (BTC) is facing a “bottoming candle” in 2023, but BTC price action is still more than able to surprise the market. In a tweet on Jan. 11, popular trader and analyst Rekt Capital predicted that BTC/USD could see “decent upside” this year. Chart teases serious Bitcoin upside potential Analyzing Bitcoin’s four-year market cycles around block subsidy halving events, Rekt Capital drew attention to 2023 being the deadline for its next “bottoming candle.” With the next halving due in 2024, the coming 12 months should see a price floor, followed by a rally as the event draws nearer. 2024 thus forms the fourth candle in Bitcoin’s current cycle, and 2023 the third. “Candle 3 is a Bottoming Candle in the BTC Four Year Cycle. But it can still generate decent upside,” Rekt Capital commented. Th...
Litecoin pre-halving fractal hints at 200% LTC price rally by July 2023
The price of Litecoin (LTC) could skyrocket by up to 200% by July 2023, coinciding with its halving event, reducing miner block rewards by 50%. Litecoin has bottomed out? Litecoin has undergone two halvings since its launch in October 2011. The first one occurred in August 2015, which reduced its block reward from 50 LTC to 25 LTC. The second happened in August 2019, which slashed the 25 LTC reward to 12.5 LTC. Interestingly, each Litecoin halving event occurred after a volatile LTC price cycle, namely an enormous price pump, followed by a similarly massive correction, a price bottom, and recovery to a local top. After the Litecoin halvings, LTCs’ price corrected from its local top, established another bottom, and followed it with another massive price rally to a new record...
Global recession may last until near 2024 Bitcoin halving — Elon Musk
Bitcoin (BTC) may spend the time until its next block subsidy halving battling recession, Elon Musk suggested. In a tweet on Oct. 21, the Tesla CEO revealed his belief that the world would only exit recession in Spring 2024. Musk: Recession will “probably” stay until Q2, 2024 After the United States entered a technical recession with its Q3 GDP data, debate continues over how much worse the scenario could get. For Musk, while long predicting the United States economy would enter a recession, the likelihood of a global downturn lingering is now real. Asked on Twitter how long he considered a recession to last, the world’s richest man was noncommittal, but erred on the side of years rather than months. “Just guessing, but probably until spring of ‘24,” he wrote, having also said that “it sur...
The Merge is Ethereum’s chance to take over Bitcoin, researcher says
Ethereum researcher, Vivek Raman, is convinced that Ethereum’s (ETH) upcoming transition to a proof-of-stake system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency. “Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin,” said Raman in an exclusive interview with Cointelegraph. [embedded content] The Merge, a long-awaited upgrade that will complete Ethereum’s transition from a proof-of-work to a proof-of-stake system, is set to take place in September. In addition, The Merge will transform Ethereum’s monetary policy, making the network more environmentally sustainable and reducing ETH’s total supply by 90%. “After The Merge, Ether...
Bitcoin celebrates halfway to the halving with new hash rate record
Bitcoin (BTC) marks a milestone mining journey on Thursday, crossing the halfway point on the way to its next halving. In Block number 735,000, mined at approximately 10:29 UTC, Bitcoin crossed the halfway point to the next halving. The block was mined by Poolin, earning 0.16215354 BTC ($6,402.45) in fees. Halvings occur every 210,00 blocks, and May 5 marks the cross-over point into the second leg of 105,000 blocks. For some Bitcoiners, such as Samson Mow, the Bitcoiner pioneering Bitcoin nation-state adoption, the halving is a reminder to stack more SATs: WE ARE HALFWAY TO THE NEXT HALVING AND YOU HAVEN’T STACKED ENOUGH #BITCOIN YET. — Samson Mow (@Excellion) May 5, 2022 The halving cycle is a unique device that envelops the Bitcoin issuance rate. As the Cointelegraph Cry...
Why the Bitcoin ‘mid-halving’ price slump will play out differently this time
Some analysts believe the four-year market cycle is changing and that the halving schedule may no longer determine cyclical conditions as Bitcoin closes in on the mid point between halvings. The halving is when the amount of Bitcoin (BTC) rewards issued per new block mined is reduced by half. The next halving will happen around May 5, 2024, andl reduce block rewards to 3.125 BTC. According to author @Alerzio on the Santiment blog on April 4, “the important resistance on the way is $50K.” The blog stated that breaking this level by or around the next mid-halving on April 11 would cast off many doubts as to the possibility that the traditional market cycle has been broken. “If the price (stabilizes) above this level, then we can give more credit to the thesis that says: ‘this cycle is differ...
