Last week has been a tremendous week for Bitcoin (BTC), as the price surged from $7,500 to $9,450. However, since the peak high at $9,450, the top-ranked cryptocurrency by market capitalization has not seen a continuation, as the price is consolidating $800 lower. Is the halving hype over, and is the market ready for a correction after a 150% rally since Black Thursday? Crypto market daily performance. Source: Coin360 The price of Bitcoin is facing a big resistance area BTC USD 1-day chart. Source: TradingView The price of Bitcoin is facing its next massive resistance area, i.e. $9,100-9,500. The price …

Bitcoin (BTC) is just days away from a historic crossroads this week — what will the coming days have in store for traders and hodlers? Cointelegraph takes a look at the major factors influencing the market just over a week before the largest cryptocurrency’s third block reward halving. Just 8 days left till the Bitcoin halving The next eight days will focus on one topic only for Bitcoin analysts — its third block reward halving. Technically known as the “block subsidy halving,” the event will drop the supply of “new” Bitcoins paid to miners by 50% to 6.25 BTC per …

The Bitcoin (BTC) block reward halving is set to occur on May 12 and traders have mixed opinions on the direction of BTC price following the event. Some believe that a “sell the news” type drop will occur after the event while others foresee bullish continuation. If BTC, the top listed asset on CoinMarketCap, rises in price after the halving and breaks out of its 315-day cycle wherein it saw five consecutive failed attempts at an extended rally, a powerful upsurge could occur. Will bullish momentum continue post-halving? The upcoming Bitcoin halving is the only mechanism that exists which affects …

After the mid-March price crash led to a brief exodus of miners operating older hardware, the Bitcoin (BTC) hash rate posted a new all-time high (ATH) of more than 142 exahashes per second (EX/s) on May 3. The new record beats out the previous ATH of 123 EX/s posted on March 8. BTC hash rate tags new record 8 days from halving With Bitcoin’s third halving event roughly three weeks away, the BTC mining hash rate is against pushing into record highs. BTC hashing power crashed 40% in two weeks after setting its previous ATH on March 8, dropping from …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin rally above $9,000 stalls as sellers push BTC back to key support What a week it’s been. After starting Monday at $7,650, Bitcoin surged through previously stubborn resistance levels to hit highs of $9,440. The gains mean the world’s biggest cryptocurrency has comfortably outpaced the Dow’s price recovery. Bitcoin’s handsome year-to-date returns have also …

With Bitcoin off on an upward rally, many are pointing to the upcoming halving, due on May 12, as the underlying reason. Not unfairly, either. Precedent demonstrates that Bitcoin’s (BTC) price usually ends up higher after a halving, even if it takes several months. The halving was programmed into Bitcoin’s source code from the very beginning as Satoshi Nakamoto specified that there would only ever be 21 million BTC issued. Every 210,000 blocks, the block reward is cut in half. Therefore, at the genesis block in 2009, miners received 50 BTC as a reward. This was reduced to 25 BTC …

Bitcoin (BTC) price briefly broke above $9,000 as bulls appear to be in the process of trying to quietly move the price above the resistance level. Since Friday trading volume for the top-ranked cryptocurrency on CoinMarketCap had been virtually non-existent as the price traded sideways between $8,750-$8,850 for the majority of the day but the weekend is bound to bring about a stronger directional move. Crypto market daily price chart. Source: Coin360 Will the TD9 ring true again? As reported by Cointelegraph, the presence of a TD9 on the daily time frame, overbought technical indicators, and decreasing trading volume suggested …

The market for selling hash rate in exchange for Bitcoin (BTC) has undergone staggering growth in the epoch since the last halving. There is almost 100 times the level of competition today as there was four years ago, up 125 exahashes from 1.4 exahashes. After the last halving in 2016, 16nm chips were first hitting the market, pushing 14 terahashes per second, or T/s, at an efficiency of 100 watts per terahash. Since then, 10nm, 7nm and now 5nm chips have switched on, with over 100 T/s now consuming just 30 W/T. Advancements in chip design and fabrication have more …

As the coronavirus pandemic continues to unfold and new signs of lockdowns beginning to be slowly lifted in Europe, all eyes in the crypto community are back on the Bitcoin (BTC) halving. The event is only 10 days away, and Bitcoin’s price seems to be acting accordingly, having surged an incredible 23% to a monthly high above $9,400 earlier this week. A widely celebrated event in the cryptocurrency industry, the halving is part of the Bitcoin monetary policy, in which every four years, the Bitcoin mining reward is cut in half. This means that on May 11, 6.25 BTC will …

At Virtual Blockchain Week, crypto pioneer Charlie Shrem made a strong bull-case for Bitcoin, saying the combination of diminishing supply due to the halving, and wholesale quantitative easing, will drive prices higher over the next one to two years. Bitcoin halving and QE During a fireside chat with the VBW hosts on April 30, Shrem stated that, “It's kind of crazy that we have a halving during coronavirus because it was such a black swan event.” “We have two trillion dollars of money printed in the United States, people are starting to get all that money,” he said. “Also, all …

On Wednesday Bitcoin (BTC) price blasted through a series of key resistance levels as traders ponied up and set their target on the $9K mark. According to data from Cointelegraph Markets and CoinMarketCap the BTC/USD pair has rallied approximately 14.5%, notching a $1,123 gain. With the block reward halving just 13 days away, bullish investors are hopeful that a push above $9,000 will lead to a pre-halving price of $10,000. Let’s take a brief look at the charts to see what Bitcoin is up to. Crypto market daily price chart. Source: Coin360 Today’s $1,123 surge allowed Bitcoin price to clear …

Bitcoin (BTC) remains the top ranked cryptocurrency on CoinMarketCap and as the third block reward halving is set to occur in 14 days, investors are hopeful that the price will find a path to a new all-time high. This is because the block reward halving is usually preceded by a powerful rally that many have long forecast would bring the digital asset to a new all-time high. Surprisingly, Joe007, one of the biggest Bitcoin whales in the cryptocurrency market, has implied that the halving is already priced in, which may leave the cryptocurrency vulnerable to a crash. In a sarcastic …