Before the recent halving, many were prophesying a so-called “death spiral” for Bitcoin. This theory hinges on the idea that the halving of the block reward leads to an exodus of miners due to the sudden unprofitability of mining activities. As a result, the network hashrate decreases and the block time increases, meaning that miner revenue further diminishes, pushing more miners off the network. This loop would then allegedly continue until there is no one left to mine Bitcoin (BTC).

The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300. Ether’s decline comes after a head and shoulders pattern became clear on the daily timeframe and the price slid into a shart downtrend over the past four day.  ETH/USD 1-week chart. Source: TradingView.com Three reasons… Source link

Bitcoin’s (BTC) price has been showing some slight strength in the previous week as BTC rallied from $10,000 to $11,200. However, the crypto market’s overall consensus has been showing weakness with double-digit selloffs for many of the smaller-cap cryptocurrencies. This selloff appears to have taken hold as Bitcoin price confirmed $11,200 as resistance in the previous weekend. Rejection as $11,200 leads to a downward spiral BTC/USD 1-day chart. Source: TradingView In the previous analysis,… Source link

It’s pretty much guaranteed at this point that higher inflation is coming. The Federal Reserve, which has already printed about $3 trillion of new money this year, is now explicitly devoted to reducing the dollar’s purchasing power in a bid to revive the economy. Higher inflation also typically happens when a country gets laden with debt and interest rates are cut to zero, as is now the case in the U.S. “We’re at a moment where you may see some inflation,” Federal Reserve Bank… Source link

According to the latest data from Skew, Bitcoin (BTC) has not seen three positive consecutive quarters since 2017. If BTC ends Q4 with a net gain, it would be three consecutive winning quarters for the first time in three years. Q4 has been mostly bearish for Bitcoin since 2018  But historical data is not in Bitcoin’s favor as the last two Q4s closed with 42.54% and 13.6% drops, in 2018 and 2019, respectively. The historical quarterly returns of Bitcoin. Source: Skew.com From late 2016 and up… Source link

Bitcoin traders and investors have seen a return to volatility this month, with the bitcoin price suddenly dropping in early September. The bitcoin price, which had broken $12,000 per bitcoin at the end of August, dropped to around $10,000 amid a broader market sell-off before somewhat rebounding. This week, the bitcoin market is braced for almost half of nearly $2 billion worth of bitcoin options to expire—something that could bring a fresh wave of volatility. MORE FROM FORBES

Bitcoin (BTC) starts a new week still looking for $11,000 support as macro markets wobble over coronavirus and banks’ criminal activities. Cointelegraph highlights five factors that could shape BTC price action in the coming days. Banks face money laundering deluge While central banks grappled with dramatic shifts in United States economy policy, fresh leaked files showed yet more evidence of largescale money laundering. A huge trove of documents from the Financial Crimes Enforcement Network… Source link

Bitcoin Bitcoin rallied by 5.84% in the week ending 20th September. Following on from a 0.54% gain from the week prior, Bitcoin ended the week at $10,934.5. It was a particularly bullish start to the week. Bitcoin rallied from a Monday intraweek low $10,259.0 to a Saturday intraweek high $11,185.0. Steering clear of the first major support level at $9,935, Bitcoin broke through the first major resistance level at $10,675 and the second major resistance level at $11,019. It was a bearish end to… Source link

Litecoin Litecoin slid by 2.89% on Sunday. Following on from a 0.14% decline on Saturday, Litecoin ended the week down by 2.28% to $47.09. It was a bearish end to the week. Litecoin fell from an early morning intraday high $48.52 to a late afternoon intraday low $46.20. Litecoin fell through the first major support level at $47.64 and the second major support level at $46.81. Finding late support, Litecoin broke back through the second major support level to wrap up the day at $47 levels. At the… Source link

Historical data shows that some miners began to sell Bitcoin (BTC) at the end of July, leading to increased selling pressure in the cryptocurrency market. Eventually, the dominant cryptocurrency fell steeply from mid-August, recording a 13% fall and since then BTC has struggled to retake the $12K mark. Bitcoin selling by miners from 2017-2020. Source: CryptoQuant According to CryptoQuant CEO Ki Young Ju, continued selling by miners might not be enough to prevent a bull run. On-chain data… Source link