On April 12, the number of Bitcoin (BTC) exchange deposits hit the lowest point since August 2016. Recently, there has been a trend towards Bitcoin holders moving their assets away from the exchanges, with some exchanges hit particularly hard. For instance, the amount of Bitcoin held by BitMex and Bitfinex has dropped significantly in the last few weeks. Source: glassnode But while the amount of Bitcoin held on exchanges has decreased overall, it has not reverted as far back in history as the number of BTC transfers to exchanges. Its current level is equivalent to the middle of 2019. This …

Bitcoin (BTC) has never been so oversold in the last month before its block reward halving, one important indicator shows. In an ongoing Twitter debate on April 11, the analyst known as PlanB noted that Bitcoin’s relative strength index (RSI) was unusually low. Indicator hits record pre-halving lows The oscillator uses a scale from 1 to 100 to determine whether Bitcoin is overbought or oversold at a particular price. The 12-month RSI currently registers 49 — near its historic lows. Since 2011, according to data from PlanB, it has only seen two periods below that level, in 2015 and late …

Bitcoin SV (BSV) has seen its first halving since its creation in late 2018, hours after Bitcoin Cash (BCH) also completed its 50% block reward reduction event. The cryptocurrency first came about as a result of disagreements between opposing factions within the BCH community, which led to a group backed by self-proclaimed Bitcoin (BTC) creator Craig Wright and billionaire Calvin Ayre forking the chain to form Bitcoin Satoshi’s Vision, or Bitcoin SV. As was the case with BCH, BSV also saw a reduction in hash rate as miners moved their computing power to the BTC chain, which is currently the …

Following an enormous drop in Bitcoin’s (BTC) network hash rate back on March 26, the premier currency’s hash rate increased between April 4 and April 6 by at least a whopping 33%, exploding from around 85–91 exahashes per second to roughly 122 EH/s, according to various data sources. Historically speaking, Bitcoin’s native hash rate and overall price have been linked quite closely, with the two values — up until now — having shown a strong correlation of 0.77. This is because the higher the hash rate, the more expensive it is for a third-party bad actor to take over a …

Bitcoin Satoshi's Vision (BSV) just finished its first halving, roughly two years after forking from Bitcoin Cash (BCH) in 2018. BSV completed its halving at approximately 01:30 UTC. This event marks the reduction of the coin's block reward from 12.5 to 6.25 BSV. Bitcoin forks halve one month before their father chain BSV's halving comes just a short time after BCH's halving event on April 8, and approximately one month prior to Bitcoin's halving. Bitcoin SV sits at a price of $210.87 , down from $225 on the day. Since its halving, BCH has fallen from $278 to $256.21. BSV …

In an exclusive interview with Cointelegraph, Anthony “Pomp” Pompliano explained why Bitcoin is the best asset to preserve wealth in the upcoming future. Pompliano reconfirmed his bullishness on Bitcoin, revealing he bought more if it right after the latest market crash, when most investors sought refuge in the U.S. dollar. When asked whether there may be more investment-worthy cryptocurrencies on the market, Pomp pointed out that “money is a belief system, and until now the market believes that Bitcoin is more valuable than everything else”. The halving can’t be priced-in Discussing the possible impact of the imminent Bitcoin halving on …

The quadrennial block reward halving for Bitcoin Cash (BCH) has come and gone, with miner rewards dropping from 12.5 BCH to 6.25 BCH. The event marked a pivotal moment for the fifth-ranked cryptocurrency by market capitalization, as it was its first 50% block reward reduction since emerging as a hard fork of Bitcoin (BTC) back in 2017. The Bitcoin Cash chain experienced another split that led to the creation of Bitcoin Satoshi Vision (BSV) in late 2018. The chain of events leading to the BCH blockchain split caused a cascade of network issues, as the hash war between both factions …

Not even a day has passed since the Bitcoin Cash halving and already the hash rate has taken a hit and block generation slowed significantly. Many predicted that at least some miners would abandon BCH and move to more profitable coins like Bitcoin (BTC) after their rewards were halved from 12.5 to 6.25 BCH. But as hash rates rise and fall each day, the data for BCH is open to interpretation. Fork.lol shows a 60% fall in the BCH hash rate from 4.36 EH/s yesterday to 1.6 EH/s at the time of writing (using a 12 hour average). Coinwarz has …

With the halvings for Bitcoin Cash (BCH) and Bitcoin SV (BSV) failing to drive a surge in demand, it appears that their block halvings may turn out to be non-events. Despite their halvings, BCH and BSV exhibited normal volume, and strong correlation with the crypto markets at large. Bitcoin forks fail to attract demand heading into halvings While at least six cryptocurrencies prepare to reduce their miner rewards in 2020, the market only appears interested in the forthcoming BTC halving. Within 48 hours of this writing, Bitcoin SV (BSV) will become the latest crypto asset to halve its block reward. …

Bitcoin (BTC) hashrate has increased 33% in just two days while the price of Bitcoin trails behind. BTC price & hashrate Bitcoin hashrate has exploded from 91,290,582 TH/s on April 4 to 121,029,181 TH/s on April 6. Historically, Bitcoin hashrate and price have exhibited a very close relationship, with a 0.77 correlation. This relationship makes sense considering that the hashrate represents, on the one hand, the production cost of Bitcoin for the miners and, on the other hand, the overall security of the Bitcoin network. In other words, the higher the total hashrate, the more expensive it will be for …

The block reward halving of Bitcoin (BTC) has long been touted as an optimistic factor to drive the short-term price trend of BTC in the first half of 2020. Historical data, however, shows that the halving does not necessarily coincide with an immediate upsurge in the price of Bitcoin. On the Bitcoin network, miners create blocks that record Bitcoin transactions to essentially verify and confirm payment data using computing power. Through large-scale mining centers filled with ASIC mining chips and sophisticated equipment, miners use a large amount of electricity and have high maintenance costs in order to mine BTC. Individual …

Bitcoin (BTC) balances of the major exchanges are at their lowest point since 2019. Calm waters ahead? From a high in mid-January, the number of Bitcoins on deposit at major exchanges has dropped significantly in following months. This trend accelerated after the recent market collapse. Source: Glassnode Further supporting this trend is the “exchange net inflow” data, which is derived by subtracting Bitcoins leaving exchanges from Bitcoin moving into exchanges. The net inflows have been negative for much of 2019 with a short positive spike around the most recent meltdown. Source: Glassnode This could imply that market participants are not …