Day: April 18, 2024

Here’s What Would Happen If The Bitcoin Price Fell Below $58,000

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Crypto analyst Crypto Rover has provided insights into what could happen if the Bitcoin price drops below $58,000. The flagship crypto has continued to suffer price declines lately and risks dropping to that price level if it manages to break the crucial $60,000 support level.  What A Drop Below $58,000 Would Mean For The Bitcoin Price Rover mentioned in a video on his YouTube channel that Bitcoin dropping below $58,000 would mean a breakdown for the flagship crypto token. He, however, quickly added that there’s still a lot of liquidity…

Stacks’ co-founder believes layer 2 will drive adoption for 2nd phase of Bitcoin

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Muneeb Ali, co-founder of Stacks, shared his perspective on the rapid shift towards a diverse and active phase of innovation within the Bitcoin ecosystem. Ali highlighted a notable shift in the challenges faced by Stacks within the Bitcoin ecosystem, with an increased focus on creativity and solution diversity at a panel during Dubai’s Token2049 event “The biggest problem with Bitcoin right now is that there’s so many different, like L2s and protocols,” Ali began, referencing a recent tweet by Kyle Smani of Multicoin. The Stacks co-founder emphasized this as a…

South Korean Inmate on Funeral Leave Robs Crypto Buyer of $363,000

Local sources have reported that a South Korean inmate, temporarily released to attend a funeral, exploited a cryptocurrency over-the-counter (OTC) deal to rob another individual. He enticed the buyer by offering to sell the digital assets at a rate below the prevailing market value and stole 500 million won. Temporary Release Turns Criminal A face-to-face […] Source CryptoX Portal

Bitcoin Halving Promises New Market Dynamics as Miners Adjust to Reduced Rewards

Since the halving is programmed to occur every 210,000 blocks, it creates a distinct time frame between these events that lasts about four years. In these four years, there has historically been a peak price, a trough price, a bull portion of the cycle, and a bear portion of the cycle. The most price appreciation has historically been in the month preceding and following the halving. This is a result of the supply shock that the halving creates. After the new supply/demand equilibrium is reached, the price peaks and then…

Bitcoin (BTC) Reward Halving Partially Priced, No Big Rally Expected After the Event: Deutsche Bank

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

JPMorgan likes these mining stocks to play the upcoming Bitcoin halving

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While most of the public cryptocurrency miners are positioned to survive the supply shock of the Bitcoin halving, JPMorgan has named its top picks. “With the bitcoin halving on the horizon, we expect heightened volatility and trading volume in both bitcoin and mining stocks,” Reginald Smith, an analyst at JPMorgan, said in a note this week. “That said, we think recent weakness offers an attractive entry point, and are especially bullish on RIOT and IREN, which we think offer attractive relative valuations.” The Bitcoin halving is estimated to take place…

Bitcoin longs lead $247m in liquidations as markets lull 

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Volatility rocked crypto markets less than two days before Bitcoin’s halving, with the asset bouncing between $61,000 and $64,000. According to CoinGlass, this market fluctuation triggered more liquidations in Bitcoin (BTC) positions and across the broader digital asset ecosystem. Long BTC positions suffered the biggest hit on April 18 due to the token’s brief drop under $62,000.  Traders betting on higher Bitcoin prices logged over $57 million in liquidations across several trading venues. Short positions, investors predicting price declines, lost north of $36 million in 24 hours.  Data also ranked…

Expert Echoes Previous Halving Pattern

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In the ever-evolving world of cryptocurrency, Marcel Knobloch also known as Collin Brown, a crypto expert has offered an audacious prediction for Bitcoin, foreseeing a significant rally to unprecedented heights post-BTC Halving event scheduled to take happen this month. Bitcoin Poised For Massive Growth Post-Halving According to Collin Brown, the fourth mining reward Halving for Bitcoin will take place in the next 48 hours. This event will cut down the current 6.25 BTC per block output to 3.125 BTC per block. Brown noted that following the last Halving event, Bitcoin…

Bitcoin to Hit $122,000 in 2024, Predicts Finder’s Latest Survey of Experts 

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Periodically, the product comparison website finder.com releases a new price prediction survey focusing on key cryptocurrencies and gathers a wide array of crypto and fintech experts for their perspectives. According to the most recent report on bitcoin forecasts, the panel of experts anticipates that bitcoin could attain a value in the six-figure range by 2024. […] Original