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The 3rd Halving of Bitcoins completed on May 12th since the block rewards reduced to 6.25 bitcoins. Under the BULL news of Bitcoins halving, the market did not pump as we expected but plunged when most investors focused on the market with full of hope. At last, only disappointments lasted.
In fact, with the impact of COVID-19, the Bitcoin market once dropped from $10,000 to the level of $3,800. Since the decline was huge, the funds chose to buy in the bottom so that the Bitcoin price rebounded back to the $10,000 mark. However, in the day before the halving, the Bitcoin price plunged and once decreased to a position of $8,000. Then, when it gradually rose back to $9,000, it finally completed hunkering before the bull comes. So, as the market ran in an unexpected way, did the Bitcoin market already collapse?
From the perspective that when the block reward reduced by half after the halving, and the price suddenly dropped, it paves the way for the coming bull market. Checking the chart, the volume while the decline was low which told us that the capitals did not “Cash out” and leave. Moreover, the price of USDT did not present a significant rise. From the truth we listed, the holders have not changed their Bitcoins into USDT. Thus, following the logic of the Bitcoins halving, the Bitcoin price tends to be doubled. In addition, as the technical analysis indicated, from the movement of the daily chart of BTC, the moving averages are still climbing. Even the short-term moving averages fell back, the longs remained its strength. There is no way that the long signal has stopped. Being patient until the adjustment ends seems to be a perfect choice to prepare for the upcoming bull market.
Even though, the plunge still did harm to the investors. The liquidation data showed that during the period before and after the Bitcoins halving, near 300 million dollars positions got to be liquidated. When the market increased to $9,150, it gave out the signal that the market tended to pump. However, it was a temptation. After then, it dropped by more than 10% and predated the positions that fell into the trap. The chief analyst of BitOffer pointed out that the Bitcoin Futures market now was toxic since some top cryptocurrency exchanges abuse the concept of “leveraged trading” and ignore users’ risk tolerance, like what happened on the ICO market, now bring up a “Yesterday Once More” on the cryptocurrency derivatives market.
Reviewing the Bitcoin ETF launched by BitOffer, with its automatic positions adjustment mechanism, it allows investors to achieve the profits that can be up to 15 times. In addition, after optimizing by the traditional financial funds, it naturally comes up with 3X leverages but still cannot be liquidated, and supports traders to buy or sell anytime and anywhere. On this basis, BitOffer even published an automatic investment plan of Bitcoin ETF. For example, at first, the Bitcoin price was $10,000, and it once decreased to $4,000. Then, using the automatic investment plan of ETF, investors could purchase the fixed amount in a fixed period. If they purchased a fixed amount every $2,000 drops happened, then the budget would be $7,000. When the Bitcoin price rises back to $7,000, the budget would be recovered. And once the market runs back to the $10,000 mark, the ROI would reach 130%. By comparing with the leveraged trading in spot trading or futures trading, it should be the first choice from the payoff or security.
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Each halving lowers Bitcoin's inflation rate. The orange line is Bitcoin's inflation rate during a given period, while the blue line is the total number of bitcoins issued. Bitcoin Halving Schedule. The Bitcoin halving is scheduled in block height, not date. The halving happens every 210,000 blocks. The 2024 halving will happen on block 840,000. The third Bitcoin halving that took place on the 11th of May 2020 is yet to demonstrate if Bitcoin will reach a new all time high price. The fourth halving is set to occur in 2024, so we`re still unable to conclude if this time we`ll see positive correlation between the price and Halving. The inflation/supply schedule of Bitcoin. Bitcoin Halving Dates. When the Bitcoin network was first launched January 1st 2009, the Bitcoin block reward was 50 Bitcoins per block.. Almost four years later on November the 28th 2012, Bitcoin had its first halving and the block reward was cut in half, to 25 Bitcoins.. Another four years later on July the 9th 2016 the second Bitcoin halving took Bitcoin Block Reward Halving Countdown website. What is a block halving event? As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). This time around, a post-halving price boost could take even longer: “if we have progressively longer cycles for bitcoin, we could see a fresh high 18-24 months after May, meaning Bitcoin could reach a new all-time high between October 2021 and May 2022.”
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How To Pay Off Your Mortgage Fast Using Velocity Banking How To Pay Off Your Mortgage In 5-7 Years - Duration: 41:34. Think Wealthy with Mike Adams 725,014 views #bitcoin #crypto #cryptocurrencies I explain why consolidation in Bitcoin's price after the Halving is perfectly normal. Click Here To Subscribe: https://w... We saw the Bitcoin halving in 2012 and 2016, how did the Halving reflect on the price of Bitcoin? What can we expect from the 2020 Halving? Find the answers to all these questions in the video. The Bitcoin Halving 2020 is happening in 2 days! The Bitcoin halving event happens essentially once every 4 years, so this is a topic that needs to be discussed and analyzed. The crypto market position after Bitcoin Halving 2020. The Bitcoin halving event happens essentially once every 4 years, so this is a topic that needs to be discussed and analyzed.