Bitcoin Mining Roundup: BTC Regains 100 Exahash, Miners Close Shop, Pre-Halving Shake-Up

In 44 days, BTC miners will face the third reward halving as the block subsidy will soon shrink from 12.5 to 6.25 coins per block. Following the market carnage in mid-March, BTC’s hashrate plummeted 44% to a 2020 low of 75 exahash per second (EH/s). Since then the hashrate has climbed back above 100EH/s, but profitability between SHA256 networks like BCH and BSV has been a lot more erratic than usual. Also read: Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History BTC Recaptures 100 Exahash –…

Bitcoin Price Pumps $600 to CME Gap, But $6.6K May Be End for Bulls

The price of Bitcoin (BTC) retraced to $5,800 during the weekend, which left the markets with an open CME gap between $5,900 and $6,620. Aside from that, buyers have stepped in at the $5,850 level, leading to a $600 rise in the price on Monday. However, is the correction over or is the market range-bound? Crypto market daily performance. Source: Coin360 Bitcoin finds support at the $5,850 level The bearish scenario showed the movements in the previous article, which stated the support levels at $5,800 as significant levels to be…

Bitcoin Price ‘Likely’ Bottomed in $3.7K BitMEX Crash, Says Tone Vays

Bitcoin (BTC) likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%. In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, BTC/USD should bottom at 20% of its 2019 highs — $2,800. Vays on $2.8K: “I don’t think it’s likely anymore” This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.…

Bitcoin, Ether, and XRP Weekly Market Update March 30, 2020

The total crypto market cap added $7 billion to its value for the last seven days and now stands at $174 billion. The top 10 currencies were all in green for the same time frame with XRP and Litecoin (LTC) being the best performing assets with 13.3 and 7.9 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $6,300 while ether (ETH) climbed to $130. Ripple’s XRP moved up to $0.173. BTC/USD Bitcoin suffered a drop to $5,812 on Sunday, March 22 after it was…

Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above

Bitcoin (BTC) swiftly retook $6,000 after losing support on March 30, as analysts eyed a potential for the price to fill a new gap in futures markets. Cryptocurrency market daily overview. Source: Coin360 BTC price gains 3% after a brief dive Data from Coin360 and Cointelegraph Markets showed BTC/USD trading at around $6,300 at press time — a rise of 2.8% on the day.  The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend. Those were short-lived, however, with Bitcoin regaining…

Bitcoin Recovering After a Sharp Decline: Here’s Why Bulls Could Fail

Bitcoin declined sharply below the $6,200 support against the US Dollar. BTC price found support near $5,850 and it is currently recovering towards a couple of key hurdles. Bitcoin is correcting higher from the $5,846 swing low against the US Dollar. The price is showing positive signs above the $6,000 level, but there are many hurdles on the upside. There was a break above a key declining channel with resistance near $6,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face…

Market Update: Uncertainty Remains Thick as Bears Claw Bitcoin Price Below $6K

Bitcoin’s price has been dragging downward and on March 29, BTC’s fiat value slipped beneath the $6K zone. Most of the top ten cryptocurrencies are down between 5-8% in the last 24 hours. As the global economy falters and the halving approaches, people are uncertain about the future price of bitcoin as “safe-haven” theories have been steadily vanishing. Also read: In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles Top Ten Cryptos See Some Percentage Losses During Sunday’s Trading Sessions The price of bitcoin affects the entire…

Bitcoin Price Falls Below $6,000 on Declining Trading Volume

For the second time in one week Bitcoin (BTC) price has fallen below $6,000. Today’s pullback below the $6,000 mark comes as the weekly and monthly close approach and its possible that the price could also be influenced by investors fear that traditional markets may continue to correct at Monday’s opening bell. Crypto market daily price chart. Source: Coin360 At the time of writing the price is trading at $5,917 after bulls failed to hold the $6,200 support. For the short term, Bitcoin will need to hold $5,850 or traders…

In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

Crypto traders and analysts have always looked to the halvings for some kind of clues in order to predict the future price of bitcoin. A number of traders also think that BTC price movements shift every four years and speculators often use the halvings as milestone markers. On March 28, crypto Youtube host and digital currency analyst Benjamin Cowen explained bitcoin’s price doesn’t move in four-year cycles and stressed that the asset is still following the lengthy market phase of accumulation. Also read: ‘Bull Run May Not Come Immediately After…

In-Between Bitcoin Halvings: Analyst Proves Bitcoin’s Price Not Bound to 4-Year Cycles

Crypto traders and analysts have always looked to the halvings for some kind of clues in order to predict the future price of bitcoin. A number of traders also think that BTC price movements shift every four years and speculators often use the halvings as milestone markers. On March 28, crypto Youtube host and digital currency analyst Benjamin Cowen explained bitcoin’s price doesn’t move in four-year cycles and stressed that the asset is still following the lengthy market phase of accumulation. Also read: ‘Bull Run May Not Come Immediately After…