Category Archives: Cryptocurrency

For the first time in nearly four years, and for only the third time in its 11-year history, bitcoin is about to undergo a seismic shift to its technologicalfoundations. The halving event will not only affect how bitcoin is created, it will likely also have a significant impact on the entire cryptocurrency market.

Scheduled to take place next month, the event all stems from bitcoin's unique digital design. Unlike traditional currencies, the number of bitcoins that will ever exist is fixed. The mathematical code underpinning the cryptocurrency means that only 21 million bitcoins can ever be produced and no amount of quantitative easing can artificially inflate this.

More than 18 million bitcoins have already been produced through a process called mining, whereby new units of the cryptocurrency are generated by networks of computers programmed to solve complex mathematical puzzles.

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The imminent halving of bitcoin, however, is about to make this processconsiderably more difficult.

The halving event, sometimes referred to as thehalvening, is essentially the opposite of quantitative easing so much so that some crypto enthusiasts refer to it as quantitative hardening.

As the name indicates, the halving cuts the production of bitcoin in half in such a way that mining the cryptocurrency only generates 50 per cent of the yield it used to.

It takes place roughly once every four years whenever 210,000 blocks have been mined, and is predicted to take place on 12 May. This halving will see mining rewards fall from 12.5 bitcoins per block, to 6.25 bitcoins.

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

The event is not determined or governed by a centralised body.Instead,it is hard-coded into bitcoins underlying blockchain that was created in 2008 by its pseudonymous creator Satoshi Nakamoto.

Bitcoin was developed as an antidote to the perceived flaws in the established financial system, which had contributed to the global crisis of 2007-2008. By cutting the supply, the halving event is designed to ensure the scarcity of bitcoin while preventing extreme price inflation.

Previous halvings have resulted in sharp price increases and severe market volatility for bitcoin and other cryptocurrencies, as traders and miners adjust to the new production limitationsof the worlds most valuable virtual currency.

The halving in 2012 saw bitcoins value shoot up by 80 times, while the 2016 halving preceded a 300 per cent rise in bitcoins value. The simplest explanation for these price increases is the basic economic principle ofsupply and demand: if the supply suddenly drops but demand stays the same, the price will inevitably rise. But the decentralised and semi-anonymous nature of bitcoin means it is difficult to attribute specific gains or losses to a specific event.

Mays bitcoin halving comes in the middle of a global economic meltdown, though it is not yet clear whether collapsing markets is driving money away from traditional assets into cryptocurrency. Some analysts claim that bitcoin is becoming a safe-haven asset similar to gold, and early evidence suggests that investors may already belooking towards it as an alternative store-of-value.

The CEO of one of the worlds largest cryptocurrency exchanges recently revealed data showing a spike in deposits of $1,200 the exact same size as the US governments stimulus cheque.

Bitcoin is yet to be tested by global economic disruption on this scale, and it may well go the same way as stocks or other assets as investors rush to liquidate holdings into cash. Some analysts are hopeful, however, that the halving event combined with traditional market chaos could see the cryptocurrency reach above the record highs of $20,000 that it saw in 2017.

"Many eyes have been on bitcoin since the bull run of 2017, with people eagerly awaiting its next big moment. We believe that moment is coming and we can expect to see an explosive year for bitcoin," Danny Scott, CEO of British-based cryptocurrency exchange CoinCorner, toldThe Independent.

"With both the current unexpected global crisis and the halving event, we can only expect the price of bitcoin to continue in the direction that everything is currently pointing: towards that $20,000 figure and beyond."

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Bitcoin halving explained: What is cryptocurrency event and will it boost price? - The Independent

The cryptocurrency market has been painted with one big bearish flag led by the major cryptocurrencies. Bitcoin price plunged from highs close to $10,000 on Saturday to intraday lows at $8,105. Ethereum could not hold above $200 due to its correlation with Bitcoin price. Ether touched lows at $180 but is now trading 11.21% lower at $186. The third-largest cryptocurrency has not been spared as it has spiraled to $0.1780 (intraday low) from Saturday levels above $0.22.

The selloff in the market is taking place less than two days the 2020 block reward halving. The drop was not expected many traders must have been caught off guard. For instance, data by analytics platform Skew shows that liquidations hit highs $226 million.

Other cryptocurrencies have also recorded double-digit losses include Bitcoin Cash (11.5%), NEO (10.66%), Litecoin (10.81%), IOTA (12.16%), EOS (10.91%) and Ethereum Classis (12.83%).

Intriguingly, Bitcoin price bounced off the 61.8% Fibonacci level to exchange hands at $8,611. This shows the willingness of the investors to buy in anticipation of a reversal above $9,000. Also holding the price in place is the 200-day SMA (0$8,053). However, the sharp slope of the RSI suggests that selling pressure is still high in spite of the bounce from the intraday lows. Therefore, other support areas to keep in mind include $8,000, .the 50-day SMA and $7,000.

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Cryptocurrency Market Update: Bloodbath as Bitcoin nosedives to $8,000, Ethereum $180 and Ripple $0.1780 - FXStreet

The simplest way to invest in stocks is to buy exchange traded funds. But you can significantly boost your returns by picking above-average stocks. To wit, the iMining Blockchain and Cryptocurrency Inc. (CVE:IMIN) share price is 56% higher than it was a year ago, much better than the market decline of around 14% (not including dividends) in the same period. So that should have shareholders smiling. In contrast, the longer term returns are negative, since the share price is 33% lower than it was three years ago.

See our latest analysis for iMining Blockchain and Cryptocurrency

iMining Blockchain and Cryptocurrency didnt have any revenue in the last year, so its fair to say it doesnt yet have a proven product (or at least not one people are paying for). So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. Investors will be hoping that iMining Blockchain and Cryptocurrency can make progress and gain better traction for the business, before it runs low on cash.

Companies that lack both meaningful revenue and profits are usually considered high risk. There is almost always a chance they will need to raise more capital, and their progress and share price will dictate how dilutive that is to current holders. While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). iMining Blockchain and Cryptocurrency has already given some investors a taste of the sweet gains that high risk investing can generate, if your timing is right.

iMining Blockchain and Cryptocurrency had liabilities exceeding cash by CA$236k when it last reported in February 2020, according to our data. That makes it extremely high risk, in our view. So were surprised to see the stock up 122% in the last year , but were happy for holders. Its clear more than a few people believe in the potential. The image below shows how iMining Blockchain and Cryptocurrencys balance sheet has changed over time; if you want to see the precise values, simply click on the image.

In reality its hard to have much certainty when valuing a business that has neither revenue or profit. One thing you can do is check if company insiders are buying shares. Its usually a positive if they have, as it may indicate they see value in the stock. Luckily we are in a position to provide you with this free chart of insider buying (and selling).

Its nice to see that iMining Blockchain and Cryptocurrency shareholders have received a total shareholder return of 56% over the last year. Theres no doubt those recent returns are much better than the TSR loss of 1.4% per year over five years. This makes us a little wary, but the business might have turned around its fortunes. Its always interesting to track share price performance over the longer term. But to understand iMining Blockchain and Cryptocurrency better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. Weve identified 6 warning signs with iMining Blockchain and Cryptocurrency (at least 4 which are potentially serious) , and understanding them should be part of your investment process.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

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Investors Who Bought iMining Blockchain and Cryptocurrency (CVE:IMIN) Shares A Year Ago Are Now Up 56% - Simply Wall St

Following a massive retracement over the weekend, the cryptocurrency market appears to consolidate as it waits for volatility to strike back. Key Takeaways

With Bitcoins halvingjust a few hours away, the cryptocurrency market appears to have entered a stagnation phase. Ethereum, XRP, and Litecoin are currently held by critical support levels that will determine where they are headed next.

Ethers price action appears to be contained within an ascending parallel channel that developed on its daily chart since the March crypto market free-fall.

Each time ETH rises to the upper boundary of this channel, it retraces down to hit the lower boundary, and from this point, it bounces back up again. This is consistent with the characteristics of a channel.

Under this premise, the Apr. 30 high of $227 represented a retest of the top of the channel.

This resistance barrier prevented ETH from further advance as it has tested this high over the past three months. Subsequently, resulting in a pullback to the bottom of the channel, which coincides with the downward impulse seen over the weekend.

If the ascending parallel channel continues to hold, it is reasonable to expect a bounce back to the middle or upper boundary of this technical pattern.

Such a bullish outlook seems very likely considering the strength that the lower boundary of the channel has shown.

Alongside this barrier sit the 50-, 100-, and 200-day exponential moving averages, which provide an extra layer of support.

Therefore, a spike in demand from the current price levels could see Ethereum climbing to the middle or the top of the channel once again.

These resistance walls sit at $227 and $250, respectively.

An increase in the selling pressure behind Ethereum can still jeopardize such an optimistic scenario.

If this were to happen, a key level of support to watch out for is the 38.2% Fibonacci retracement level that is located around $174.

A daily candlestick close below the aforementioned support barrier could be catastrophic for Ethereum as it increases the odds for a steeper decline towards $142 or even $119.

Crypto Briefing has repeatedly warned investors about the strength of XRPs 100- and 200-day moving averages.

As predicted, this supply zone was able to reject Ripples token from posting more gains. Consequently, putting a stop to the bullish momentum seen in late April.

Now, the cross-border remittances token has dropped to try to find support around its 50-day moving average. This support level appears to be holding steady, but may be weakening.

Indeed, the moving average convergence divergence, or MACD, recently turned bearish within the same timeframe. This technical indicator follows the path of a trend and calculates its momentum.

As the 12-day exponential moving average moved below the 26-day exponential moving average, the odds for a further decline increased.

Like Ether, the 38.2% Fibonacci retracement level is also key to XRPs trend.

A spike in sell orders that allows the international settlements coin to close below the support area ahead may trigger panic among investors.

Such a bearish impulse would likely see XRP crash to $0.14 or even make a new yearly low as trading veteran Peter Brandt estimated.

Nonetheless, XRP may continue to consolidate around the current price level, which could see a sudden rise in demand.

If so, an increase in the buying pressure behind this cryptocurrency might allow it to bounce back to the 100- or 200-day moving averages and retest their resistance.

The 100-day exponential moving average has proven to be a major resistance wall impeding bulls from taking control of Litecoins price action. On eight different occasions over the past two weeks, this barrier was contained LTC from advancing further up.

The most recent rejection from this resistance level was so significant that it flipped the parabolic stop and reverse, or SAR, on the 1-day chart. Every time the stop and reversal points move above the price of an asset, it is considered to be a negative sign.

The recent parabolic SAR flip estimates that the direction of Litecoins trend changed from bullish to bearish.

The TD sequential indicator within the same time frame adds credence to the pessimistic outlook.

This technical index presented a sell signal the moment the current red two candlestick began trading below the close of the preceding red one candlestick.

Due to the strength of the setup trendline and the 100-day exponential moving average, the range between these support and resistance levels is a reasonable no-trade zone.

A daily candlestick close below $40 or above $48 will determine where Litecoin is headed next.

Regardless of the popular belief that Bitcoins halving is the catalyst for a full-blown bull market, data shows that in the short-term that might not necessarily be the case.

In a recent report, OKEx analyzed how Bitcoin and other altcoins behaved before and after their respective halvings. The Malta-based cryptocurrency exchange concluded that this event usually turns into a buy the rumor, sell news scheme.

Smart investors usually long before halving, short on the halving date, and unwind the final position three days after halving, according to the report. The exchange added:

The theory behind it is that due to the heated discussion and news on halving, the demand for that coin will increase prior to the event; but as the news dies down after it halves, the buying pressure is gone and the coin price would drop, said OKEx.

Under this premise, one could argue that the cryptocurrency market is poised for a steeper decline.

Thus, it is very important to pay close attention to the support levels mentioned in this analysis. Waiting for confirmation is one of the best ways to avoid getting caught on the wrong side of the trend.

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You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Ethereum, XRP, and Litecoin Prices Wait for Bitcoins Halving - Crypto Briefing

Cryptocurrency is the out of control child in the investment world. Its prices fluctuate by the minute and have been deemed one of the riskier investments to be made. Even Warren Buffet, one of the richest man in the world, is discouraging people from investing in it.

But every four years, the price of bitcoin will be cut in half, in a bid to stabilize the crypto market. Mining for the currency will only yield 50 percent, which will reduce the number of coins in the market and preventing it from going through price inflation.

But stabilizing the crypto market brings along another factor: It will attract more investors.

eToro analyst Simon Peters said, During and after the first halving in 2012, the key investors were those already involved in the asset class. The bitcoin investor base was almost exclusively made up of those in the know; blockchain scientists and data programmers as well as libertarians interested in the idea of a monetary system outside of political influence and central bank control.

When bitcoin was halved in 2012, the world saw the price of a one coin drop to US$13 and peeked at US$230 in just six months. Four years later in 2016, the coin was halved again, and thats when people started to pay more attention to it. Thus, the price rocketed to about US$9,800 per coin.

This was one of the reasons cryptocurrencies was put on the map, and more people were looking at ways to sink their hands into this digital gold mine.

During the halving, eToro saw that 50 percent of the investors in Malaysia were millennials.

Peters added, Alongside the computer programmers and blockchain scientists were ordinary people, from management consultants to electricians and hairdressers. Suddenly bitcoin was on everyones lips.

Since then, the crypto industry has matured, with talks of regulation, institutional investors entering the market and even central banks expressing an interest in the asset class. Combine this with another price rally expected after the 2020 halving, and we could be on the precipice of crypto becoming a mainstay of investors portfolios in the same way as stocks, bonds and commodities.

eToro believes that with every halving of bitcoin, its technology and pricing will improve, as well as increase in adoption and regulation.

The halving will happen on May 12, which could see the price of a bitcoin drop to about US$3,000 from is the current price of US$9,900.

If you plan to invest in bitcoin when the halving happens, do use services that have been endorsed by your countrys government, and only invest what youre willing to lose.

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Bitcoin's halving might see a large influx of investors wanting a piece of the cryptocurrency market - Mashable SE Asia

Well, and, of course, a very significant magnet is the opportunity to make money on all this, and not only speculating on the cryptocurrency rate. There is also such a way of earning as Mining here they pay for the provision of computing power (for example, your PC or a specially assembled computing system) for the extraction of monetary units and conducting transactions (transfers).

Today well talk about what cryptocurrency is all about (Ill try to explain in simple terms, understandable to everyone), how it appeared and how it can be used today, what its current rate is, what cryptocurrency exchanges it is worth using, what you need for mining, in which place is better to exchange and where to find the most accurate course calculator?

When the first electronic money appeared, people began to make a great many payment transactions on the Internet. Of course, the administrators of payment systems chose not to lose their hands and set a commission for each transfer or exchange made, the commissions were especially strong when transferring electronic money to real ones.

Advanced network users wondered: How to make payment transactions commission-free?, Began to offer a variety of options. In 2009, anonymous Satoshi Nakamoto realized his own vision for solving the problem: he proposed the release of an information currency that was not backed by anything but could be a unique medium of exchange. The currency is called Bitcoin.

Why is cryptocurrency so-called and how does it work?

Obviously, the name comes from words cryptographic currency. In fact, it is encrypted (cryptography is just the area of science that studies the methods of encrypting and decrypting information) in such a system, not all, but much. Cryptography is used to protect the chain of transactions, i.e. of the most valuable, that is in this system, namely the database with all operations performed with monetary units. But we have to be able to trust de.thebitcoincode.io. If you trust only then you can get maximum profit using these coins.

Let me outline the structure of any cryptocurrency thesis (and now, apart from bitcoin, they have already divorced quite a lot), so that you can understand its radical difference from everything that was before:

In order to eliminate fraud attempts, it was decided to advertise absolutely all operations in the public domain every person using the cryptocurrency has the opportunity to see which wallet and how much bitcoins were transferred to. True, it is not a fact that extracts the name from this information, rather the opposite, because the system is truly anonymous.

The cryptocurrency is not provided with gold reserves or the economy of any state, but it has a certain rate, which is constantly changing and is listed on the exchange. The more people use bitcoins as a medium of exchange, the higher the rate, since the popularity of information money is increasing, and their total number is strictly limited. For example, in the case of Bitcoin, in accordance with the algorithm for its implementation, more than 21 million monetary units cannot be created. So far this number has not been reached and what the rate will be after the extraction of the last bitcoin is unknown.

And most importantly, any such cryptocurrency system can not only have a host but even an external or internal administrator. It does not belong to anyone and therefore it has almost no transfer fees. The system is controlled by the algorithm that is embedded in it, and no one (neither the courts, nor officials, nor persons in execution) can intervene in its work. This freedom has a downside, but this is what distinguishes bitcoins, light coins, and other coins from any other type of electronic money.

Disclaimer: This is a paid post and should not be considered as news/advice.

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What is a cryptocurrency and why is it needed? - AMBCrypto English

The price of BTC/USD has gone up from$9,806.63 to $9,848.50. There is a dip in the RSI, but it is still trending within the overbought zone at 79.63. While this ideally means an upcoming short term bearish correction, we believe that the bulls will continue to consolidate till Tuesdays halving.

The MACD indicates increasing bullish momentum. Ideally, the bulls will want to conquer resistance levels at 10,036 and $10,359.55. On the downside, healthy support lies at $9,500 and $8,780, which must be defended on the face of a sudden bearish onslaught.

ETH/USD is consolidating below the $218 resistance level as it went up from $211.50 to $213.20 in the early hours of Saturday. The price is hovering below the red Ichimoku cloud. The bulls gain enough firepower to enter the cloud by conquering the $227.40 resistance level. On the downside, there are healthy support levels at $207.25 and $198.

The SMA 50 is looking to crossover the SMA 200 to potentially chart the highly bullish golden cross pattern. The MACD shows slightly bearish market momentum.

XRP/USD bulls remained in control for the third straight day as the price went up a bit from $0.2187 to $0.219, trending above the triangle formation in the process. The bulls must garner enough momentum to beat resistance at SMA 200, $0.2284 and $0.2362. The last resistance level will bring the price above the 20-day Bollinger Band.

On the downside, the buyers must make sure that support at $0.2113 and $0.1962 remain strong. The Elliott Oscillator has fallen from 0.026 to0.0163 over the last seven days.

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Cryptocurrency Market Update: Bitcoin, Ethereum and Ripple have a bullish start to Saturday, following Fridays drop - FXStreet

Cryptocurrency Litecoin at 03:19 (00:19 GMT) Voskresenovka at a price of $42,860 according to the index Investing.com down by 12.32% in the day. This was the most significant fall in the value of cryptocurrencies since March 12.

The fall provoked a reduction of the market capitalization of Litecoin to $3,021 B, or 0.00% of the total capitalization of all cryptocurrencies. While earlier peaks capitalization of Litecoin was $14,099 B.

In the last 24 hours, Litecoin was trading in the range of $42,859 to $47,012.

In the last 7 days cryptocurrency Litecoin could feel the drop rate in the range of lost 5.56 percent. The amount of currency Litecoin traded in the last 24 hours before the date of publication of this material was $4,715 B or 0.00% of the total volume of all cryptocurrencies. The course was varied in the range from $42,8594 to $49,0882 in the last 7 days.

At the moment Litecoin is still below 89,80% from their peak values, amounting to $420,00, which was reached on 12 December 2017..

Bitcoin was last trading at $8.813,8, according to the index Investing.com falling of 11.98% during the day.

The Ethereum traded $196,24 , according to the index Investing.com, falling from 7.83 per cent.

The market capitalization of Bitcoin $174,801 B or 0.00% of the total capitalization of cryptocurrency, whereas market capitalization of the Ethereum $23,370 B or 0.00% of the total capitalization of the stock market.

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Cryptocurrency Litecoin dipped to 12% - The Times Hub

Today is a significant day in the history of cryptocurrency: the bitcoin halving. But as the coronavirus and upcoming recession cause growing uncertainty, the implications go far beyond a technical change.

An event built into the cryptocurrency from the outset, the Bitcoin halving will not, as many often incorrectly assume, see the price of Bitcoin halve. Instead, it will see the amount of bitcoin miners receive for the work they do cut by half: at present, mining a single block results in 12.5 bitcoin, but after the halving, this will be cut to 6.25.

This event, which will occur at around 20:30 GMT today, is the third halving to be applied to the cryptocurrency, and is designed to counteract the fact that Bitcoin is finite: there can only ever be 21 million Bitcoin mined. While in the early days reaching the limit may have seemed long in the future, as the cryptocurrency has become more popular the amount mined each day has significantly increased.

The halvings, which occur at every 210,000 blocks around four years apart counteract this issue, ensuring mining can continue in the future.

For many experts, the bitcoin halving is set to generate a rise in the price of Bitcoin, as acquiring it through mining becomes more expensive. This occurred in the previous two halving events in 2012 and 2016.

As the third halving event to occur, there are expectations for what might come after, with history telling us that the Bitcoin price will typically begin to rise significantly within the 12 months following a halving something that can be simply put down to supply and demand, says Danny Scott, CEO and co-founder of CoinCorner.

The Bitcoin halving has created attention each time it has occurred and resulted in many new people discovering bitcoin, added Gareth Stephens, founder of Bitcoin Lessons.

The 2020 halving takes the newly minted supply of bitcoin from 3.6% down to 1.8%, this now makes bitcoin have a lower inflation rate than fiat and gold. This will likely attract attention as people around the world look to store their value in an asset that can hold its value over a long period of time.

However, not everyone agrees that the halving will spark a notable price rise.

We dont believe there will be much change to Bitcoin use in the aftermath of the halving event, says Joel Kruger, currency strategist at LMAX Group.

Most Bitcoin is already in circulation, and as a consequence, the notion that there will be a surge in demand because there are less new bitcoin coming into circulation, is an exaggerated one.

We expect the halving to be a disappointment, adds Ed Hindi, CIO of Tyr Capital.

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We may see the market drop by 25%-35% from the peak, but we expect it to be followed by a period of rangebound trading over a number of months and then a gradual move back up. The longer term horizon for bitcoin is extremely bullish we may well witness a peak of $100/125k in the next couple of years but in the short to medium term we think well see a lot of disappointed players out there.

Hindi argues that this is due to a range of other factors impacting the cryptocurrency, including his belief that many individual buyers will sell their bitcoin as the recession begins to bite.

Whether a risk to growth or a boon, the coronavirus outbreak has undoubtedly been an unexpected factor in future adoption rates. And for many, it is only going to help the cryptocurrency grow.

While almost every other asset has suffered, bitcoin has stood alone in resisting the devastating economic impact of the coronavirus; weve seen the currency already return to its pre-March, pre-coronavirus value, says Marcus Swanepoel, CEO of cryptocurrency platform Luno.

Even with the coronavirus as a backdrop, previous halvings have led to some of the most dramatic rallies for bitcoin. Given bitcoins stern defence against the economic effects of the pandemic, the precedent suggests that we may well see another rally similar to that in 2017.

Others see the economic reactions to the pandemic playing a key role in bitcoin performance following the halving.

The coronavirus pandemic has resulted in another massive barrage of global stimulus from governments and central banks, carrying worrying medium to longer term risk of currency debasement, says LMAX Groups Kruger.

This is something that only serves to further highlight bitcoins value proposition as a currency born out of a rejection of centralised governance and monetary policy that would allow for currency debasement.

Bitcoin Lessonss Stephens generally agrees, although is more sceptical as to how much this will play a role.

There is a further reluctance to use physical paper money due to the risk of passing on infection, but there are already digital forms of money so I dont see this changing too much, he says.

The economic impact of the lockdown and decimation of businesses that has resulted in the printing of trillions of dollars could well expedite the exit from fiat currencies into bitcoin as people realise how worthless their government money truly is.

Inextricably linked with the coronavirus is, of course, the now expected global recession, and here Stephens sees cryptocurrency stepping to the fore.

The impending recession could really highlight on a global scale the problems with governments owning money, and whilst a depression would likely suppress the price of all assets for a number of years, he says.

The truly decentralised, outside of the system asset away from government control is bitcoin so that is where the smart money will flee in times of a global economic crisis.

Amid the talk of recession is a growing narrative about the creation of a new normal, and when it comes to financial institutions, many see the combination of the halving, financial uncertainty and disruption as being a key driver of adoption.

Mays event could herald bitcoins coming of age. The digitalisation of our lives is accelerating at a faster pace than ever before. Were in an exciting new era driven by technology, says Nigel Green, CEO of independent financial advisor deVere Group.

This new world needs new ways of doing things to fit the new normal. Clearly, one of those things which is needed now more than ever, as the world becomes ever-more digitalised and globalised, is digital and global currency, such as bitcoin.

For Lunos Swanepoel, there is evidence of growing support at a governmental level.

Preceding the halving, weve seen a significant shift in attitude from major governments that will have put bitcoin on many peoples radar, he says.

The United States government has recently flirted with the idea of a digital dollar, and China has gone one step further as it pushes toward the digital yuan. With the worlds biggest economies moving toward digital currencies, greater knowledge and increased adoption of bitcoin will soon follow.

However, others do not see such growing government interest in bitcoin as being impacted by the halving.

Most industries and government bodies have either adopted blockchain technology to some extent or are exploring how to for the significant benefits which the technology offers including greater transparency of transaction histories, enhanced security, improved traceability, increased efficiencies and speed and, with this, lower costs. The bitcoin halving is unlikely to impact on this, says Sushil Kuner, principal associate, Gowling WLG.

Perhaps more significant, however, is the increase in support from the financial institutions.

Mainstream financial institutions have long been fearful of cryptocurrencies, with many still seeing the likes of bitcoin as competition, not opportunity. But, financial giants in the way of Barclays in the UK, and Goldman Sachs, have pushed forward with their respective cryptocurrency projects, says Swanepoel.

Should bitcoins mainstream appeal increase after the halving as we expect it to it will only accelerate the adoption of bitcoin from mainstream financial institutions. As we see more and more reputable financial institutions adopt cryptocurrency, that will naturally filter through the industry.

However, others are keen to point out that while the halving could cause a growth in support among financial institutions, this will not occur as a result of any new benefits the event brings to bitcoin.

The halving specifically wont mean a lot to new financial institutions though, the core features that bitcoin has around its scarcity, censor resistance and it being unconfiscatable were true before and still true after the halving, says Bitcoin Lessonss Stephens.

More people may discover these qualities and look to allocate a percentage of their portfolio due to information they discover due to the halving occurring.

The design of the halving event is an elegant and brilliant design that generates a lot of buzz every four years, serving as a reminder of Bitcoins highly compelling economics, agrees LMAX Groups Kruger.

This is a reminder that with each passing halving event, is sure to generate more mainstream adoption from financial institutions. The longer bitcoin is around, the more it proves its concept. The more it proves its concept, the more attractive the value proposition becomes.

While the general consensus for the long-term prospects of bitcoin is an upward trajectory, experts are divided about how much the halving will shape this.

Overall, we expect a continued upward trend over the medium to longer term, but believe this to be less a function of one single event and more a function of the totality of bitcoins compelling economics, says LMAX Groups Kruger.

What is clear, however, is that the bitcoin halving provides an opportunity for the cryptocurrency to increase its profile, and with the coronavirus and recession, the opportunities to capitalise on the changing world are significant.

The halving itself doesnt help mainstream adoption, but it will get attention and headlines and help bring in the next wave of people who end up being long term holders, says Bitcoin Lessonss Stephens.

However, this will not happen on its own; the cryptocurrency industry still has considerable work to do if bitcoin is to ever achieve a truly pervasive presence in the mainstream.

While the halving is unlikely to act as a silver bullet for the mainstream adoption of bitcoin, it will have a significant impact on its mainstream appeal, says Lunos Swanepoel.

People are resistant to change, especially when it concerns something as important and emotive as money. The challenge will be to educate and convince the general public to abandon traditional currencies that have been used since time immemorial.

Read more: Bitcoin can protect investors against inflation

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Bitcoin halving, coronavirus and recession: Is an adoption surge ahead? - Verdict

Bityard, a Singapore-based cryptocurrency exchange, has announced that it has officially launched a global business layout using Singapore as its base to conduct business with clients in Southeast Asia, Europe and the United States. Additionally, in correlation with the global development of cryptocurrency transactions, Bityard is a blockchain application technology exchange, and as such, has been awarded the appropriate licenses from the ACRA of the Singaporean government.

Bityard has also established offices in many countries in the Asia-Pacific region and obtained local professional licenses. Bityard vows to provide users with a safe trading environment and a commitment to excellence for users of the platform. In the future, Bityard will continue to enhance the user-friendly and professional user experience. Taking the concept of complex contracts and simple transactions as core values, it is Bityards intention to spearhead the market using cutting-edge technology.

Bityard embodies three simple characteristics not seen by other exchanges: Safety, simplicity, and speed. Bityard supports two-factor-authentication and holds several licenses for business globally. With regards to simplicity, the interface is not overbearing and the information users see is easy to digest. Finally, with regards to speed, users can be trading in as little as ten minutes after they finish registration on the platform. There is also a daily mining activity on the Bityard platform to allow users to reward themselves with a little bit of cryptocurrency daily. Bityard anticipates a large number of users joining the platform later this year.Global Brand Ambassador: Buakaw

At present, Bityard has successfully entered the Vietnamese and Chinese markets, and achieved excellent results. There are also more and more users entering the platform from Indonesia, India, South Africa, Thailand and other countries. Before the end of 2020, Bityard will cover Asia Pacific, Europe, and the USA with full multi-language support to achieve its vision for a globalized platform.

Bityard: http://www.bityard.comFacebook: https://www.facebook.com/Bityardofficial/Business Mail: bd@bityard.com

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Cryptocurrency Exchange Bityard Launched A Global Business Layout Using Singapore As Its Base - IndianWeb2.com