Following the Bitcoin BTC halving, there’s been a shift in the cryptocurrency ranking by market cap as Tether USDT pushes Ripple XRP out of the number three position.
With the hype around halving absorbed, large-cap altcoins like Tezos XTZ, Cardano ADA, and Ether ETH are building momentum for a strong upswing as the Bitcoin BTC price heads towards the significant $10K round-number resistance.
Read on for more details on the trend build-ups and other interesting news events in the crypto space.
Bitcoin BTC MINERS’ REWARD
The total crypto market cap hovers below the significant resistance set at $267.895 Billion despite a slump in Bitcoin miners' reward after the BTC halving, a sign that miners are not yet willing to sell off their BTC stash yet.
This week's post will analyze the BTCUSD and some other top-ranking altcoins, identifying the significant resistance and support zones required for the total market cap to move higher.
Bitcoin BTC MINERS' REWARD
The Total crypto market cap soars to $271.55 Billion after the long-anticipated Bitcoin BTC halving, and plunged by 19.51% after the halving, only to find support at the 200-daily Moving Average.
The BTC halving, a significant crypto event, drew new investors into the crypto market, therefore reinforcing confidence among holders of Bitcoin BTC and other altcoins.
In this post, we'll touch on some of the other interesting events in the crypto space and analyze the technical price drivers of the BTCUSD, ETHUSD, ETHBTC, XRPUSD, XMRUSD, BNBUSD, and BNBBTC.
Bitcoin BTC News
Arthur Hayes, CEO of the world's second-largest crypto exchange Bitmex in a tweet, said that legendary hedge fund investor Paul Tudor Jones' 1% inclusion of Bitcoin BTC in his portfolio would draw in more big investors to the crypto market.
As a hedge against inflation risk, Brian Kelly and CBC's Fast Money Traders are also of a similar view that more institutional money will come into the crypto market, following Jones' move towards the BTC.
Karen Finerman also believes that Jones is setting the pace for mainstream investors to get into Bitcoin BTC, and build confidence within the public when buying Bitcoin BTC.
Kelly further compared Bitcoin BTC to gold and said that it has a better risk to reward compared to gold.
According to Emin Gun Sirer, the Cornell University professor and computer scientist who created the world's first proof-of-work cryptocurrency; a vast majority of cryptocurrencies do not offer any meaningful tech advancement and only exist to grab people's money.
He went on to say that trying to compete with Bitcoin BTC as a method of payment is a stupid thing to do.
With about 2days to the long-awaited event in the crypto industry, the search for Bitcoin halving on Google increases by about 350% compared to the previous halving event July 09 2016. Such spike highlights an increase in interest for the cryptocurrency and a hint into institutional adoption in the space.
With the Bitcoin BTC, dominance threatening to close above the MA-50 (67.88) and Bitcoin BTC miners' reward testing a previous resistance that coincides with the BTCUSD $10K round number level, time will tell if the bears can hold the back the further advancements in price.
In this post, we'll carry out an in-depth analysis of the technical price charts of the BTCUSD, ETHUSD, ETHBTC, XRPUSD, XLMUSD, XLMBTC, and BNBUSD. We'll also touch on significant events in the cryptocurrency industry.
Bitcoin BTC MINERS' REWARD
The Bitcoin BTC is in a strong bullish trend as traders countdown to the May 10 Bitcoin BTC halving.
In this post, we'll carry out an in-depth analysis of the technical price charts of the BTCUSD, XTZUSD, XTZBTC, LINKUSD, LINKBTC, XRPUSD, and BNBUSD. We'll also touch on significant events in the cryptocurrency industry.
Bitcoin BTC halving, a highly significant event, and BTC monetary policy in the cryptocurrency industry is coming up in 10 days, and the BTC paired against stablecoins, and other altcoins already show an increase in dominance.
The four-year interval event is such that it leads to a cut in Bitcoin BTC mining reward by half, meaning 6.25BTC will be issued every 10 minutes starting from May 11, compared to the current 12.5 BTC.
The May 11 halving is the third since the creation of Bitcoin BTC, as it switches the sentiment of the crypto asset from a bearish correction phase to a bullish correction state.
A tweet by Plan B, the creator of the Stock to Flow model, states that the 2020 BTC halving will follow a similar course as 2012 and 2016.
Bitcoin BTC appears to be set for a breakout to the upside as the bulls maintain a consistent increase in buying pressure for six consecutive weeks now. A rise in miners' reward also accounts for this rise, like other cryptocurrencies in the space tag along.
Read on for an in-depth analysis of the technical price charts of the BTCUSD, ETHUSD, XRPUSD, XMRUSD, and BNBUSD, while we also look into some news events in the space.
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