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Halving2024

Comparing Bitcoin Halving With Price Movementwhat is Bitcoin Halving? Bitcoin halving is an event that occurs every four years and reduces the block reward for verifying transactions on the Bitcoin network. This reduction in supply helps to control the overall inflation rate of the cryptocurrency and maintain its scarcity. The next halving is expected in 2024. Chart Overview: The chart above shows, how the bitcoin price moved before and after halving, before the 500 days of halving, the bitcoin price began to rise slowly. After the halving, the price of Bitcoin goes up hard, this was repeated in the past 3 halvings. expecting the same price movement in the 4th bitcoin halving. till the 4th bitcoin halving (halving expected date 2nd may 2024) bitcoin price will rise slowly After the halving we expect a strong up move in bitcoin and potentially reach the 200k level. Thanks Hexa
INDEX:BTCUSDLong
by HexaTrades
6
BTC likely to drop one last time before halving startsHey folks! It's time for another Bitcoin update. We're likely at a local top now, at least if you compare the timing to the acculmulation time after the Halving Run 1 and Halving Run 2 crashes. Around this time, there were also local tops from HR1 and HR2 accumulation times. As a bonus, Volume is also showing signs of starting to cool down. A drop to 25-35K is likely if you compare it to the 20% and 50% drop of post HR1(purple) and HR2(blue) crashes in the local scope. With local scope I mean price action related to all 3 post HR price range-normalized crashes. I personally believe a drop to 30-35K is more likely than a drop to 25K as this was the result of the corona crash in February 2020 which should have been a little bit more severe than without the outbreak of the pandemic. I expect us to go with a price around of 35K into the halving run which should reach 80-170K by the end of 2025. With me expecting near zero interest rates in 2025 this could go much much further, but one cannot forsee the future. Good luck and stay safe :)
BITSTAMP:BTCUSD
by The_Silen
Nervous? Don't be. Alright alright, i know things are slowing down a bit and it could be scaring some, but look at the chart..... We saw a dip lastnight, actually i posted about it.... Just not on here. Anyway, as you can see we are about to hit a support level at 2100, we actually already hit the 2100 level and bounced off of that. Which is good, some selling but not a complete mess a healthy spot for everything to consolidate, if we go through that level you can be sure that there is big support at 2k. What i'm trying to say here is just don't panic. If you're looking to enter , i don't know how much time there really is left before the fireworks begin and people start wishing they got in sooner but this is a dip do with that what you will. BITSTAMP:ETHUSD NASDAQ:RIOT NASDAQ:MARA BITSTAMP:BTCUSD
BITSTAMP:ETHUSD
by M1ndless
3
AAVE/USDT: Approaching 200 EMAAAVE's price is going to face a struggle to maintain upward momentum as it tests key support levels. The 200 EMA is serving as a pivotal line, with potential for a breakdown. A decisive movement below this trend could signal a continuation of bearish sentiment, potentially targeting lower support zones. Conversely, if bulls regain control and we breach the highlighted green line, we could anticipate a rally towards the upper resistance. We should watch for either a confirmed breakdown below the 200 EMA or a strong push above current resistance levels to gauge the next move.
Short
by SwallowAcademy
"Bitcoin Halving: Your Complete Guide""Hello everyone, I hope you are all doing well. Without further delay, let's proceed to the chart." "The Bitcoin halving is a significant event in the cryptocurrency market, happening approximately every four years. It involves cutting the block reward for miners in half, reducing the new BTC supply by 50%. The next halving is expected in early 2024, occurring after 840,000 blocks, and will decrease the mining reward from 6.25 BTC to 3.125 BTC per block." "The hard-coded technical mechanism forms the foundation of scarcity, providing Bitcoin with its value proposition as verifiably finite digital gold. This comprehensive guide will delve into Bitcoin halving dates, their impact on price and mining, and why they hold significant importance." What is Bitcoin Halving? The Bitcoin halving refers to the periodic reduction by half of the block reward granted to miners for solving the cryptographic puzzle to add new blocks to the Bitcoin blockchain. This action effectively cuts in half the quantity of new Bitcoin introduced into circulation with each discovered block. Given the consistent reduction in supply alongside ongoing demand growth, these anticipated halving events typically trigger an increase in Bitcoin's market price over the subsequent 12–18 months. Bitcoin was ingeniously designed with a fixed and capped supply of 21 million coins, gradually released through mining rewards. The periodic halving events are crucial to gradually diminishing new issuance until the total supply cap is reached. This systematic reduction in inflation enhances scarcity in a predictable manner. Historical Significance and Market Impact Each Bitcoin halving event has historically brought about significant market dynamics. Previous halvings have resulted in increased demand and subsequent price appreciation for Bitcoin. The decrease in block rewards directly influences the available supply, frequently creating a supply-demand imbalance that propels the price upward. After past halvings, Bitcoin has undergone remarkable bull runs, culminating in new all-time highs. Implications for the Cryptocurrency Industry: The Bitcoin halving event carries several implications for the broader cryptocurrency industry. Firstly, it reinforces Bitcoin's scarcity and limited supply, positioning it as a store of value akin to precious metals like gold. The halving also serves as an incentive for miners to secure the network by contributing computational power, as reduced block rewards can potentially impact mining profitability. Furthermore, the event heightens investor and public awareness, drawing attention to the innovative nature of cryptocurrencies. Historical Bitcoin Halving Dates: November 28, 2012 — Block 210,000 mined (Reward decreased to 25 BTC) July 9, 2016 — Block 420,000 mined (Reward decreased to 12.5 BTC) May 11, 2020 — Block 630,000 mined (Reward decreased to 6.25 BTC) March 2024 (Estimated) — Block 840,000 mined (Reward expected to decrease to 3.125 BTC) Halving Price Impact Patterns: While various complex macroeconomic and sentiment factors contribute to Bitcoin's well-known price volatility, halvings have consistently preceded significant bull runs. Following the initial two halvings, BTC experienced substantial increases within 12–18 months. For instance, Bitcoin was valued at under $12 during the first halving in November 2012, soaring over 100x to approximately $1,150 by December 2013. The 2016 halving foreshadowed Bitcoin's remarkable 2017 bull run, reaching nearly $20,000. Just nine months after the May 2020 halving, Bitcoin reached new all-time highs surpassing $64,000 before retracing to a lower trading range. This recurring pattern supports the notion that halvings shape Bitcoin's boom-and-bust cycles by significantly limiting new supply issuance while user adoption and demand continue to grow exponentially. However, accurately predicting the timing and magnitude of peak prices following halvings remains challenging due to the multitude of variables influencing market sentiment swings.
by CRYPTOMOJO_TA
ZEC/USDT Secondary trend -94%. Downward wedge. 29 11 2023Logarithm. Time frame is 3 days. Linear for clarity. Secondary trend that formed a descending wedge (bullish potential). This is all down -94% from last cycle's highs of $369.18 Halving (second one in history) will approximately be 17 11 2024. The chart for orientation to key resistance areas has shown the percentages that are very likely to be reached in 2024 (pardon my French). Major trend. Time frame 1 month. ZEC/USDT Major trend. 2 halving 17 11 2024. 17/160,18 Simplifying the complex is the key to success. Simplifying the simple is a guarantee of misconceptions and mistakes. The key to good work of a trader is knowledge and experience, which always leads to simplification of actions, not to complication !!!!.
Long
by SpartaBTC
ZEC/USDT Major trend. 2 halving 17 11 2024. 17/160,18Major trend. Large time frame for clarity. Old exchange Poloniex (low liquidity) due to long trading history to show everything clearly. As you can see with each cycle the highs are decreasing.... Cycles of life and death . This cryptocurrency is going into its third cycle. It will most likely be the last because of its anonymity. In a decentralized super centralized world, nothing can be anonymous! Am I wrong? States don't need anything anonymous. The demands of market regulation will “strangle” anything anonymous. But, this is later, and before the halving, which will happen on 17 11 2024 with a high probability they will pump up to 160.18$, and maybe even higher, if the card falls. Saving "dirty money" when CBDC is introduced by banks . Some people think that when CBDC of central banks is introduced, through anonymous coins like ZEC, HMR and so on, big capital will "save" their shadow money. A fairy tale for school children. I have little faith in it. I think such money has been saved long ago. Although this story to create a news background as a reason to pump has a place .... It's worth noting that BCH and BTC will first halve in April 2024. News from Satoshi . By the way, "rumor has it" that closer to the summer of 2024, according to the plot of our crypto movie called good/bad, a new “Satoshi Nakamoto”. Will be announced, who will plunge everyone into “uncertainty of actions/consequences” in the market. Rumors also claim it will be the universally hated villain, Craig Wright). Do you think the role will go to another villain, Roger Ver? Or have these two characters already played out and the role will go to someone else? Or maybe the plot itself will be canceled? Perhaps. Time will tell, the manipulators can come up with anything, that's not the point. Immunity from news nonsense. The main thing is to treat such "crypto stories", even if there is a real imitation of provability, with the utmost equanimity. Remember, no matter what is going on, it is all a hoax to capitalize on the direction of the trend. The news background that is created to accompany price movement. Line chart. Secondary trend. Timeframe 3 days
Long
by SpartaBTC
Bitcoin (BTC) Price to Hit $40K After Current PullbackBitcoin (BTC) price is on pace to rebound toward the $40,000 price target after the current corrections according to Wolfe Research. The current pullback in the price of Bitcoin (BTC) might be the set-up for a bullish move according to insights shared by Wolfe Research, a renowned Markets Analytics platform. Per Wolfe Research’s thesis, the bearish correction being experienced presents a good buying opportunity. Bitcoin (BTC) Price Offers Risk-Reward Scenario The month of November has been quite eventful for Bitcoin (BTC) seeing the premier cryptocurrency soar as high as $38,400 on November 24 as the confluence of positive fundamentals triggered the bull’s intensive buyback. With the coin putting its strong foot forward in its frantic pace to end the month on a positive note, bearish pressure has prevented the push to keep the price above the psychologically important level of $40,000. The series of drops presents a buying opportunity that can give a good reward for those who can afford the risks. The $40,000 immediate price level projected by Wolfe Research is obviously not too ambitious for Bitcoin to attain. The last time Bitcoin (BTC) price touched this level was 12 May 2022, and with conditions generally improving in relation to regulations and adoption, the chances for revival are high. One underlying characteristic prevalent in the market is the sustained luster of Bitcoin’s most dogged institutional buyers. Top on this list is MicroStrategy Incorporated, the blockchain payments first that has continued to increase its BTC holdings. While Wolfe Research’s projections are a fair estimation, more bullish predictions have been shared by other analysts in recent times. Bitcoin ETF and Halving Sentiment Two major trends the market is looking forward to that can drive the price of Bitcoin (BTC) is the sentiments around potential approval for a spot Exchange Traded Fund (ETF) product tracking the asset from the United States Securities and Exchange Commission (SEC) With the likes of BlackRock, Fidelity Investments, VanEck, and Bitwise in the race to get their products approved, Bloomberg Analysts have maintained their 90% probability of securing approval for the cryptocurrency. Should this approval be secured, it will usher in institutional capital and help drive the price of Bitcoin to new highs. The sentiments surrounding the upcoming Bitcoin halving event are also another one that can shape the way the market embraces BTC in the coming months. Slated for April, the system reward will be slashed from 6.25 BTC to 3.125 BTC, effectively reducing the rate of emission of the premier cryptocurrency, solidifying its deflationary status, and potentially enhancing its price growth moving forward.
BINANCE:BTCUSDLong
by DEXWireNews
BTC Halving Price RoadmapHi Traders, Investors and Speculators of Charts📈📉 With the BTC halving coming up next year, I was interested in finding out how the price of BTCUSD has previously reacted before, during and after this event. (I love data and AI, it's a match made in wonderland). The next Bitcoin halving is scheduled to happen some time next year during April or May (2024). And so, with the help of AI tools, I analyzed the historic price trends of BTC around the time of the halving all the way back until 2012 and present this estimated price movement on the chart with the path line (chart on the left) . I've taken the liberty to point out key zones (support zone and resistance zone) with white trendlines. They often overlap with the yellow Fibonacci Retracement, which is added confirmation for key zones to watch. The vertical green lines are time stamps in 3-month intervals leading up to and after the halving. For ease of reference to trendlines and Fibonacci retracement, here's the full chart: Chart on the right: These are BTC prices in 3-month intervals from previous halvings, displayed in a table for easy viewing. Also my prediction for price RANGES for the upcoming halving. Note that it's displayed as a price but do give leverage for +-2K up or down. Some additional details about the BTC halving: 🌐The BTC halving is a scheduled event that occurs every 210,000 blocks 🌐It's a built-in feature of the Bitcoin protocol that was designed to control the supply of Bitcoin. 🌐The halving reduces the block reward by half 🌐The block reward is currently 6.25 BTC The halving of the block reward is a way to ensure that the supply of Bitcoin is limited. There will only ever be 21 million BTC, and the halving ensures that the supply of new BTC is gradually reduced over time. This makes Bitcoin a scarce asset, which is one of the reasons why it is so valuable, apart from the natural advantage of being first. The halving of the block reward also has an impact on the difficulty of mining Bitcoin. The difficulty of mining is adjusted every 2,016 blocks to ensure that a new block is mined every 10 minutes on average. However, when the block reward is halved, the difficulty of mining is also halved. This means that miners need to spend more computing power to mine a block, which makes it more difficult to mine Bitcoin. The halving of the block reward has a number of implications for Bitcoin. It helps to ensure that the supply of Bitcoin is limited, which makes it a scarce asset. It also makes Bitcoin more difficult to mine, which increases the cost of mining. However, the halving also increases the value of Bitcoin, as it makes it more scarce and difficult to obtain. Now the data conclusions (on average, historically) of how the BTC halving has influenced the BTCUSD price: 6 MONTHS BEFORE The price of BTC can start to increase in the months before the halving. This is likely due to anticipation of the event and the increased scarcity of BTC after the halving. 3 MONTHS BEFORE The price of BTC tends to increase in the months leading up to the halving. This is likely due to anticipation of the event and the increased scarcity of BTC after the halving. 1 MONTH BEFORE The price of BTC typically peaks in the month before the halving. This is likely due to the final frenzy of buying before the supply of new BTC is cut in half. MONTH DURING HALVING The price of BTC can be volatile in the month of the halving. This is because there is uncertainty about how the market will react to the event. 1 MONTH AFTER The price of BTC typically starts to rise in the month after the halving. This is likely due to the increased scarcity of BTC and the anticipation of future price increases. 3 MONTHS AFTER The price of BTC can continue to rise in the months after the halving. This is because the scarcity of BTC continues to increase and the market begins to realize the long-term implications of the halving. 6 MONTHS AFTER The price of BTC can plateau or decline in the months after the halving. This is because the market may have already priced in the long-term implications of the halving. NOTE that this isn't rule of thumb, it's a general trend based on the past halvings and there have been some exceptions. For example, the price of BTC didn't increase in the month before the halving in 2012. IN CONCLUSION, overall, the BTC halving has a positive impact on the BTCUSD price. This is because the halving reduces the supply of new BTC, which increases the scarcity of BTC and drives up the price. If you want to know more about the trends on altcoins during the BTC halving, there's some more info on it here: Next up, I'll do a more in-depth post on the altcoin liquidity rotations around the BTC halving. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck KUCOIN:BTCUSDT COINBASE:BTCUSD
Long
by CryptoCheck-
35
Detailed analysis of BTC price and halvings since its inceptionHello everyone, I would like to present what repeatability can be determined in more detail by analyzing the BTC chart, taking into account the 3 halvings we experienced and the fourth which lies ahead. We have a log BTC chart from 2011 to today in front of us. We will start by designating the places where BTC has done its halving, as you can see, the first halving took place in November 2012, the second halving in June 2016, the third halving in May 2020, and we also mark the halving which should be in April 2024 . On the other hand, we mark the middle between the halves with white lines. We will use a green box to mark the gaps between the edible and the other half so that we can see this space and repetition more clearly. For the analysis, we will use the blue lines which represent the way btc moves, one line indicates the lowest price points, and we can see that btc touches the line repeatedly, and in the same way we can mark the places where price has reached its ATH. It is worth noting that with the first halving, btc fell by about 86% from its ATH on the second halving he was down about 84% from his ATH with a 3 fold reduction, the decrease from ATH so far is about 74%. The current low is 74% where the blue line is, but BTC sometimes has a quick dip in the candlestick which could be around 82% from the ATH. Given the repeatability between halves, the current maximum opening should be around $ 10,500, however, here we have confirmation of the low at $15,200, which gives a decline of 78%. Now we use the mean measure tool marked with the purple line and we can see that every time we cut it in half, as the average goes through half the period to half, the cane consolidates and then the price drops below our purple line. Moving on, we also see that after each drop below average around the half of the halving, the price started to rebound and break the first trend denoted by the white line as well as exiting the yellow area, then breaking the second trend and exiting the second yellow area. Thus, breaking the first trend is a pro-growth period, and breaking the second trend is a pro-growth period followed by price increases. Currently, we have not yet broken the first trend, given the cyclical nature of btc and the fact that large capital is distributed similarly and often all negative news is already included in the price, we can assume that the situation will repeat itself. After breaking the second trend and breaking above the average, the price will start rising again. Finally, we present a visualization of how the btc price may possibly move to the next halving in the coming time, we mark the path that the price may follow with a white line. Based on available data, we know that the difference between ATH is approximately 6.25 times in each cycle. However, the percentage increase from trough to peak in each subsequent cycle decreases by almost 6 times. Taking into account all the data, we can predict that in the current cycle the BTC price could reach a level ranging from $70,000 to $99,000, which is marked with the blue zone on the chart. However, as it is already widely known, work on an ETF for BTC is underway, a positive decision to issue such an ETF could completely change the market and take it to new levels. And taking into account the first gold ETF that gave a price increase of 10X, in a similar situation the BTC price could increase to huge levels in the orange zone to the levels of $ 170,000 - $ 225,000. However, the BTC ETF can also be a threat, when it is rejected it can have a very negative impact on the entire market. Please remember that these are not investment recommendations, everyone is responsible for their financial games, these are just our observations about the market and how the price moves.
BITSTAMP:BTCUSD
by cryptodailyuk
Is Bitcoin broken? Why isn't it going up? A lot of folks are scratching their heads, wondering why Bitcoin isn't taking off like a rocket 🚀. Some even reckon it needs to take a nosedive before we see any action. But what's the deal with Bitcoin? Why does it seem like we're just going sideways? Let me break down a few things that, in my humble opinion, are affecting Bitcoin's price and what I think might go down. **1️⃣ Miners Offloading Bitcoin** Let's talk about mining. Miners are the backbone of the Bitcoin network. They validate transactions and keep the blockchain secure. But here's the kicker: Bitcoin's got this thing called "halving," where the rewards miners get are cut in half. In a few months, the cost of mining will double as the block reward drops from 6.25 to 3.125 BTC per block. So, miners are stocking up to cover their costs after the halving. Most of this selling happens on the down-low to avoid messing with the price, hence the sideways action. **2️⃣ Big Picture Stuff** Bitcoin was born in the ashes of the 2008 banking crisis, where Quantitative Easing (QE) was the name of the game, meaning cheap money galore. But now, we're in a period of Quantitative Tightening. Interest rates are sky-high, making money expensive. People are holding onto their cash, expecting a possible recession down the line. Geopolitical tensions and global shake-ups don't help either. **3️⃣ It's All About the Cycles** Take a look at the Bitcoin price chart, and you'll see cycles every four years. Bull run after the halving, hitting a peak, then dipping into bear territory. Rinse and repeat. BTC hasn't broken its all-time high before the next halving so far, and I don't see why it would now. ✅ So, what's the outlook, you ask? 📍 We're probably in for more sideways action, at least until we get close to the halving. Here's what's on my radar: **1️⃣ BlackRock's ETF:** They wouldn't bother filing for an ETF if they didn't think it'd get the green light. The expected decision date is March 30th, 2024, right before the next BTC halving. **2️⃣ Scarcity on Exchanges:** Unlike past halvings, there's hardly any BTC sitting on exchanges. This scarcity could lead to some wild price swings. **3️⃣ The Halving:** As Satoshi said, "The price of any commodity tends to gravitate toward the production cost." After the halving, production costs double, so BTC's gotta climb to catch up. Miners will try to hold onto their BTC to turn a profit, making it even scarcer. **4️⃣ End of QT:** When people stop spending, and the economy tanks, we'll likely see a shift from Quantitative Tightening (QT) back to Quantitative Easing (QE). That's a good sign for BTC and investment in general. ❓ When's all this gonna happen? My gut says not much until the second half of 2024, but if those four factors line up nicely, we might get a Bitcoin rally reminiscent of 2017, rolling into 2025. 🚀 🎙️Got thoughts? Share 'em in the comments and hit that like button if you found this overview useful. Don't forget to follow for more ideas.
BITSTAMP:BTCUSD
by Nico.Muselle
42
Logic vs Risk management Bitcoin halving… Not something new, but still take a look at the charts of the last two halvings, what’s the major difference ? 1st halving when BtC price was in around 350$ to 1,000$ and jumped up to 19,000$ just a year after, was just a hype. No body believed that some crypto currency would do something like that big. Outcome: Bitcoin got down to 3,000$ and slowly risen up to 7-8k$ in the next 3 years. 2nd halving is when bitcoin got to 12,000$ pretty easy, a year after it, why ? Since people understood and saw, it is here and it is here for long, so you can trust IT(BTC). What we see after ? Elon Musk is killing it bringing BtC to 67,000$ with a hype again, strange isn’t it ? Just like in 2017 it(BTC) went, where it could be and went down where it should be to 23k. Now we are experiencing a third halving. When people don’t trust the banks and see the markets during wars collapsing… sooo what do we see now ? BtC support levels were around 22,000$ and resistance was around 25,000$, but the price we see now for over a week of 34,000$ is pretty much not even new support or resistance but just a safe zone to buy more. Than we could see 40k zone that will become a new support level and 45,000$ should be its resistance level for around 6 month after halving will be done…
BITSTAMP:BTCUSDLong
by nathan_haimahn
The 4th Bull Run may come earlier than expected ! 1.Halving event has always triggered the bull run. The parabolic move happened about 2-3 months after the halving date 2. A more detailed look into halving phases can be found here in my friend Kinoko Halving Chart. Based on the price moment and the timeline, I believe that we are in Anticipation phase (6 months prior to the Halving date) 3.What different this time is the approval of Bitcoin ETF with Third Deadline in Jan24 and Final Deadline in Mar24 so I expect the Anticipation phase will be very speculative this time 4.Yet I don’t think this is the “buy the rumour, sell the news” type of event because ETF is about mainstream institutions to be LEGALLY join the BTC market, there’s no front-runner, sneaky way around (see the volume and price movement of Gold ETF) 5. Hence, the 4th Bull Run may come early and be much different than before. So #accumulatebtc but don’t #fomo, because more likely than not, we will have good set up to entry (potential shakeout)
COINBASE:BTCUSDLong
by SteadyCompound
250k Btc (with facts) Bitcoin growth across three Halving CyclesFirst Halving: Market cap at halving: 146 million Market cap during run-up: $18.75 billion Run-up: 20 billion (approx.) Second Halving: Market cap at halving: $9.375 billion Market cap during run-up: $300 billion Run-up: $290.625 billion (approx., 15 times larger than the first halving) Third Halving (hypothetical): Market cap at halving: 150 billion Possible market cap scenarios during run-up: a. $1.2 trillion (already achieved) b. $2.4 trillion (potential) c. $4.8 trillion (potential) Run-up (applying the 15x increase pattern): $4.35 trillion approx. Hope you learned something :) Follow for more
CRYPTOCAP:BTCLong
by MichaelBsul
9
Bitcoin Halving : What Investors Need to Knowwhat is Bitcoin Halving? Bitcoin halving is an event that occurs every four years and reduces the block reward for verifying transactions on the Bitcoin network. This reduction in supply helps to control the overall inflation rate of the cryptocurrency and maintain its scarcity. The next halving is expected in April 2024. Chart Overview: The chart above illustrates how the price of Bitcoin moved before and after halving. Before the 500 days leading up to halving, the Bitcoin price began to rise slowly. After the halving, the price of Bitcoin experienced a significant increase, a pattern that has repeated in the past three halvings. We anticipate a similar price movement in the 4th Bitcoin halving. Until the 4th Bitcoin halving, which is expected on April 14, 2024, we expect Bitcoin's price to continue its gradual ascent. After the halving, we anticipate a strong upward movement in Bitcoin, potentially reaching the $200,000 level. Thanks, Hexa
INDEX:BTCUSD
by HexaTrades
Market Update - October 6, 2023 Bitcoin and ether have another rollercoaster week: Following a pop early in the week as the US Congress narrowly avoided a government shutdown, bitcoin and ether were up and down, settling around $27.5k USD and $1,600 USD, respectively, by Friday. Sam Bankman-Fried’s saga continues as trial starts: SBF’s criminal trial began this week in New York City. In opening statements, the defense argued that “Sam didn’t defraud anyone,” while the prosecution described SBF’s crypto empire as a “house of cards … built on a lie.” The trial is expected to last up to six weeks. Ether futures ETFs go live for trading: The first ether (ETH) futures-based exchange traded funds (ETFs) were launched on Monday by VanEck, ProShares, and Bitwise Asset Management. The total volume traded on the first day of launch came in just under $2 million USD. Judge rejects SEC’s attempt to appeal Ripple ruling: The SEC faced a setback this week as a federal judge dismissed its bid to appeal the highly publicized Ripple ruling that deemed XRP sold on public exchanges is not a security. XRP rallied over 5% following the news. Hiring slows in September, lowering interest rate hike expectations: Employment data from ADP showed far fewer private sector jobs were added in September than expected, and the ISM Non-Manufacturing Index slowed slightly for September. Expectations for another interest rate hike in November now sit around 20%. ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Bitcoin Halving AnalysisHere are the elements I see when I analyze Bitcoin halving for long-term investment in a monthly time period. A bull run comes after every halving. First run 9784%; second run 3147%; The third run sent Bitcoin up 553%. When we apply Fibonacci correction to the bear market that came before the run, we can determine the point where the run will go. When we apply Fibonacci to the bear season in 2011, we see that the 3.618 level is $1344. In the run after the halvings, Bitcoin saw exactly this level. When we apply Fibonacci to the bear market that came in 2014 after the bull market, this time the level of 2.618 shows the level of $19728. In the bull run after the halving in 2016, we see that Bitcoin rose to this level. When we applied Fibonacci to the withdrawal in 2018, the 1.618 level showed the $47500 level. As expected, Bitcoin ran up to this level in the post-halving bull run. Now, when we apply Fibonacci to the bear market after 2021, we see that the 1.382 level indicates the $110091 level. What should be noted here is that in every bull run, Bitcoin rises to one less Fibonacci level. This is due to the logarithmic chart we use. Perhaps Bitcoin may rise to 1,618 or even 2,618 levels again in this halving, but I calculated it at 1,382 for a realistic analysis. You can also see other Fibonacci values on the chart. RSI peaks after every halving. However, these hills began to lag and lose their strength as time went by. According to the Fibonacci calculation we mentioned in the previous article, if the price will rise to 1.382, it is consistent for the RSI to peak lower than in 2021. However, if the rise is greater, this pattern will be disrupted and the RSI will make a higher peak. But the time when the peak will come will be approximately at the end of 2024 - the beginning of 2025. When the RSI is 50 and below, there have always been bottom times for Bitcoin. Therefore, we can say that it is the best time to buy Bitcoin when the RSI is around this level. After seeing the bottom, Bitcoin rises by finding support at the Fibonacci levels of the rise. For example, when we apply Fibonacci to the 2012 rise, we see that Bitcoin retreated to the 0.372 level and then started to run by finding support at 0.236. After the run in 2016, Bitcoin Fibonacci retreated to 0.5, then rose and found support at 0.382, starting the bull season. After the run in 2020, Bitcoin retreated to 0.618, which is one lower level than the previous run, and now we expect it to find support at 0.5. This means that Bitcoin has the potential to reach the $20,000 level, and a withdrawal to this level will not be a decline, but will find support and start the bull season. This is just a technical analysis by me. In the end, Bitcoin may or may not reach this level. But I will make my investment according to this analysis. My friends who think Bitcoin will drop to $0, please sell your Bitcoins because I will buy them.
INDEX:BTCUSDLong
by YavuzAkbay
1
A Brief History of the Bitcoin Halving Here. Hello, welcome to this BTC HALVING update. Bitcoin (BTC) halving is an event that occurs approximately every four years in the Bitcoin network. During a halving event, the reward that miners receive for validating and adding new blocks to the blockchain is reduced by half. This event is programmed into the Bitcoin protocol and serves several purposes: Supply Control: Bitcoin halving is a mechanism to control the inflation of the cryptocurrency. By reducing the reward that miners receive, the rate at which new bitcoins are created slows down. This scarcity can potentially drive up the price of Bitcoin if demand remains or increases. Scheduled Issuance: It ensures a predictable issuance schedule for Bitcoin. Every 210,000 blocks, or roughly every four years, the reward for mining new blocks is halved. This predictable schedule helps users and investors plan for the future supply of Bitcoin. Security: The halving also plays a role in the security of the Bitcoin network. As the block reward decreases, miners are incentivized to continue securing the network through transaction validation and block creation by transaction fees. This transition from block rewards to transaction fees is expected to be a key driver of miner incentives as Bitcoin's supply approaches its maximum limit of 21 million coins. Here's a brief history of Bitcoin halvings: First Halving: November 28, 2012 - The block reward was reduced from 50 BTC to 25 BTC. Second Halving: July 9, 2016 - The block reward was reduced from 25 BTC to 12.5 BTC. Third Halving: May 11, 2020 - The block reward was reduced from 12.5 BTC to 6.25 BTC. The next halving is expected to occur approximately every four years, reducing the block reward by half each time until the maximum supply of 21 million bitcoins is reached, which is estimated to happen in the year 2140. These halving events are closely watched by the cryptocurrency community and can have an impact on Bitcoin's price and overall ecosystem. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSDEducation
by CryptoSanders9563
2
Why 2024 Could Spell Bullish Success for the Crypto Market? The roller-coaster ride of the crypto market never fails to pique the curiosity of traders and enthusiasts alike. As Bitcoin, the luminary of cryptocurrencies, continues to chart its course, the prospect of a bullish market in 2024 has sparked widespread anticipation. This article delves deep into the fascinating world of Bitcoin's halving event and its profound impact on market dynamics. So, buckle up and join us as we uncover the factors propelling Bitcoin's potential surge and the implications for you as a trader. The Significance of Halving Picture a recurring event, happening roughly every four years, that halves the reward for Bitcoin miners and slows down the supply of new Bitcoins. This event, known as halving, is a cornerstone of the Bitcoin ecosystem, designed to maintain scarcity and keep inflation in check. The past halvings in 2012 and 2016 catapulted Bitcoin to new all-time highs. So, it's no surprise that the forthcoming halving in 2024 is expected to set the stage for a similar spectacle. Market Dynamics and Bullish Predictions The world of crypto trading is a game of anticipation, with traders keeping a close eye on market dynamics to predict future price movements. Amidst a sea of perspectives, many industry insiders, including Huf, the founder of Pear Protocol, see a bright future for Bitcoin in the first quarter of 2024. Huf's bullish sentiment is fueled by the expected onset of the next bull market during this period, underpinned by positive narratives and conducive market conditions. *Bitcoin Dominance: Bitcoin Dominance means how much the ratio is in the total crypto market cap. Bitcoin and Market Cap: A Direct Correlation The value of Bitcoin, the leading cryptocurrency, plays a critical role in establishing the overall temperament of the cryptocurrency market. The market cap of Bitcoin, a value obtained by multiplying the current Bitcoin price by the total number of Bitcoins in circulation, increases as Bitcoin's price surges. This results in a higher valuation of the entire cryptocurrency market. Thus, Bitcoin's market cap serves as a yardstick for other cryptocurrencies, with their prices often moving in the same direction as Bitcoin's. The Ripple Effect on the Cryptocurrency Market Bitcoin's correlation with the market cap deeply impacts the cryptocurrency market. A bullish trend in Bitcoin, leading to an increased market cap, fosters positive sentiment and boosts investor confidence in the overall market. This confidence translates into increased buying activity and heightened demand for other cryptocurrencies, propelling their prices. Additionally, Bitcoin's rising market cap draws new investors and institutions to the crypto arena, viewing it as a lucrative opportunity. This capital influx further intensifies the bullish market sentiment, escalating the prices of other cryptocurrencies. Driving a Bullish Cryptocurrency Market The correlation between Bitcoin and the market cap can trigger a bullish market within the cryptocurrency sector due to a combination of factors. Firstly , Bitcoin's dominance and influence in the market render it a significant indicator of overall market trends. An upswing in Bitcoin's performance injects confidence into the market, enticing more investors and catalyzing price hikes across the board. Secondly , the increased Bitcoin market cap creates a perception of the cryptocurrency market as a viable and profitable investment channel, sparking demand and price appreciation for other cryptocurrencies. Lastly , the positive market sentiment borne from Bitcoin's bullish trend generates a self-reinforcing cycle. In this cycle, investor optimism and FOMO (Fear of Missing Out) stimulate further price escalations, culminating in a bullish market for the entire cryptocurrency ecosystem. Narratives and Media Influence Storytelling plays a powerful role in shaping market sentiment and price fluctuations in the crypto sphere. The narrative of Bitcoin as a potent disruptor of traditional financial systems has steadily gained ground. The green light for the first spot Bitcoin exchange-traded fund (ETF) in the United States in 2024, as highlighted in the Cointelegraph's Market Talks episode, further reinforces this positive sentiment. Such milestones have the potential to create waves, drawing in institutional investors and boosting demand. External Factors and Potential Risks However, it's not all smooth sailing. Beyond the halving event and favorable narratives, other elements can sway Bitcoin's market trajectory. Geopolitical tensions and global economic conditions can inject volatility and uncertainty into the mix. As a trader, it's vital to take these factors into account and diversify your portfolio to cushion against potential shocks. Preparing for the Bull Market With the potential bull market of 2024 around the corner, it's time for crypto traders to gear up. Adopting careful strategies to amplify gains and curb risks is the order of the day. Comprehensive market research, staying on top of industry news, and maintaining a disciplined approach are your keys to success. Moreover, spreading your investments across different cryptocurrencies and setting realistic profit targets can help you navigate the market's inherent volatility. The tantalizing prospect of a bullish Bitcoin market in 2024 presents a golden opportunity for crypto traders. The forthcoming halving event, combined with positive narratives and potential institutional adoption, lays the groundwork for potential price appreciation. But remember, staying alert to external factors and market risks is just as important. By staying informed, adopting robust trading strategies, and taking a long-term view, you can position yourself to capitalize on the expected bull market in 2024. Follow and Boost for your financial success ! Write your thoughts in the comment section.
BNC:BLX
by Wealthy_Stats
2
Bitcoin Bullish Momentum at Risk as Monthly Stochastic IndicatorBitcoin (BTC) enthusiasts might face some headwinds as a key monthly technical indicator, the stochastic, signals an "overbought downturn" according to Fairlead Strategies. The stochastic indicator recently dipped below 80, which indicates a loss of upward momentum. This indicator typically oscillates between 0 and 100, with readings above 80 signaling overbought conditions and readings below 20 indicating oversold conditions. A downturn from overbought levels suggests a weakening of upward momentum. Strong Resistance Causes Downturn Katie Stockton, the founder and managing partner of Fairlead Strategies, highlighted this development, stating that "at the end of August, Bitcoin confirmed an overbought downturn in its monthly stochastics in a setback." She added that this downturn might prolong the basing process for Bitcoin, especially considering the resistance around $31.9K posed by the monthly cloud model, a level Bitcoin has struggled to breach. Historically, overbought downturns in the stochastic indicator in early 2021 and December 2017 have marked significant price peaks. The monthly MACD histogram, which measures trend strength and changes in trend, is near zero, indicating a neutral long-term bias. Crossings above zero suggest a bullish momentum shift, while drops below zero signal a bearish trend change. However, the MACD has yet to turn positive, implying that a sustainable uptrend has not yet taken hold, according to Stockton. At the time of writing, Bitcoin is trading at $25,700. Stockton identified immediate support at $25,200 and noted that the 50-day simple moving average at $28,200 is a critical resistance level.
INDEX:BTCUSD
by cryptohopper
BTC Based on historyFriends, hello! Today, I want to update our perspective on market phases, considering the recent changes we have been observing. Many of you may remember when I talked about the beginning of the Accumulation phase, which led to the growth we discussed. This period of growth had similar characteristics to previous cycles, and now we are witnessing a transition to a new stage - the Expansion phase. Based on history, we can observe a consistent final decline in this phase, which is a characteristic phenomenon for this stage. It's important to remember that we are facing two 🩸 months in market history. It's during this period that we need to be particularly vigilant and cautious. However, it's important to understand that these challenges can be used to our advantage. According to the theory of fractals, there are approximately 250 days left until the completion of the Expansion phase, after which we will have the opportunity to move on to the next stage. We are all looking forward to this moment - the Bull Market. I am looking forward to your thoughts and a collective discussion. 🚀🌕
BNC:BLX
by CHOWTRADE