Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
[NEWS BLOG]: Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be cut in half in layman’s terms.
Related Reading: Don’t Withdraw Bitcoin From Binance to Privacy Wallets, User Warns
The halving mechanism, should it be kept in the code in the decades to come, will ensure that there will only be 21 million Bitcoin in existence. Ever. This ties into Satoshi Nakamoto’s seeming obsession with creating a scarce, hard form of money that is unlike fiat money, which can be printed without limits.
Despite this characteristic, not everyone is convinced that the halving will have a positive effect on BTC, claiming that it won’t affect the market in any notable way or that the event is already “priced in.”
OTHER RELATED NEWS
Analyst Who Called Bitcoin’s Brutal Crash to $7,500 Thinks This is Next
It’s not a secret that Bitcoin hasn’t done well over the past few days and weeks; since the weekend’s $9,200 peak, the cryptocurrency has lost nearly 18%, and since the $10,600 peak in February, BTC has shed over 25%. In the process of this brutal move, hundreds of millions worth of leveraged positions have been liquidated.
Furthermore, with a harrowing macro outlook and Bitcoin seemingly becoming correlated with the stock market, some have been wondering if BTC could enter back into a bear market. One analyst, in fact, warned of a potential return to $4,000.
Despite these fears, many are staying - read more.
Ripple (XRP) Is Primed To Correct Higher Despite Recent Sell-off
Ripple remained in a major downtrend from well above the $0.2650 level against the US Dollar. XRP price tested the $0.2240 support area and it could correct higher in the short term.
- Ripple price is down close to 6% and it broke the $0.2350 support area against the US dollar.
- The price tested the $0.2240 support area and it is currently consolidating losses.
- There is a contracting triangle forming with resistance near $0.2300 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price must climb above the $0.2300 level to start a recovery towards the - read more.
Crypto and Blockchain Jobs Have Increased By 26% Since 2018: Research
Those seeking employment in the blockchain and cryptocurrency industry have reason to be positive, says employment search company Indeed.
The number of bitcoin, blockchain and crypto-related employment ads in shares per million on the popular job listing site rose by 26 percent from 2018–2019, following a four-year trend of 1,457 percent growth in the sector, according to a “Seen by Indeed” study released Thursday.
On the other hand, sector-specific job searches dropped 53 percent over the same period, following a longer downward trend, the firm found. Enthusiasm among job hunters peaked during the height of the crypto bull market in late 2017, - read more.