Which Crypto to Buy Today for Short-Term Growth in May 2024?
The market is buzzing with activity as the bull run charges on. Investors are eyeing the best short-term opportunities to capitalize on this momentum. With the right pick, one can The post Which Crypto to Buy Today for Short-Term Growth in May 2024? appeared first on BitcoinWorld .
2024-04-24 08:24:57
5 ways of funding blockchain projects
Discover ways of funding blockchain projects. From bootstrapping to ICOs, learn how to secure funding for your venture and drive success. The success or failure of an entrepreneurial venture is closely tied to how much liquidity the startup has. That…
2024-04-24 08:24:34
Raffle Coin Surges in Presale as Core and Arweave See Downturn
The post Raffle Coin Surges in Presale as Core and Arweave See Downturn appeared first on Coinpedia Fintech News The cryptocurrency market is going through what some analysts and optimists call a healthy correction. As crypto prices slumped ahead of BTC halving, some jittery investors thought that the bull market was over. However, now that the halving has occurred, many are anticipating a massive bull run. When will it happen? No one knows for …
2024-04-24 08:24:04
Insights on Bitcoin’s Price Trajectory and Market Dynamics
Peter Brandt challenges prevailing views on Bitcoin's ATH. Brandt's analysis considers inflation-adjusted price metrics. Continue Reading: Insights on Bitcoin’s Price Trajectory and Market Dynamics
2024-04-24 08:23:12
Meta’s Smart Glasses Get a Pretty Cool AI Uplift
Meta’s smart glasses have gotten a major AI uplift that seems pretty cool. The glasses called “Ray Ban” now support video calling on WhatsApp and Messenger and can “look and tell” you the details of what you’re seeing. “That means you can do more with your glasses because now they can see what you see,”
2024-04-24 08:20:22
The Bitcoin Halving Is Upon Us
Summary The bitcoin halving event occurs roughly every four years, reducing the newly issued bitcoin supply by half. This has historically been associated with a rising price. The halving reduces the block reward for miners, but our focus remains on sources of potential increased demand across the bitcoin network, especially given all the publicity in the space during 2024. Bitcoin's transparent and immutable monetary policy, along with its alternative investment exposure, could make it an attractive option for investors seeking a potential long-term store of value. By Christopher Gannatti, CFA, & Blake Heimann The bitcoin “halving” (or “halvening,” as some say) is an event that takes place in the bitcoin network roughly every four years. Newly issued (or mined) bitcoin is cut in half, reducing oncoming supply. At a point near the year 2140, the total supply of 21 million bitcoins will be mined, and no more new supply will become available to the market. Economics 101 would say that, holding demand constant, this tightening of supply would lead to higher prices - which is what has been observed in past events such as this. Will this be the case once again? Concepts Underpinning the Halving Approximately every 10 minutes, a new block is added to the bitcoin blockchain , recording transactions on the bitcoin network from across the globe. Someone, or some computer, needs to add these blocks to the blockchain. This is the responsibility of bitcoin miners. As they compile transactions into blocks, validating their accuracy in the process and adding these blocks to the blockchain, there is an incentive for them to do so. This incentive comes in the form of the “block reward,” or a newly minted bitcoin, which serves as payment for their efforts. Every 210,000 blocks, which equates to roughly every four years, this block reward is cut in half. As a result, miners get paid less bitcoin to do the same activities, and the newly minted bitcoin coming into circulation is reduced. Daily revenues paid to miners and the prevailing block reward can be seen in Figure 1, with the halving events reflected by the downward steps in the block reward. Figure 1: Block Rewards and Bitcoin Miner Revenue (BTC) Subsequently, each halving cycle has a fixed amount of bitcoin issuance as a function of the block reward (210,000 blocks x block reward = newly minted bitcoins paid to miners). Halving events repeat until the block reward, and therefore new issuance, becomes negligible. At that point, no new supply comes online, and the prevailing supply is all that will ever be - 21 million bitcoins. This can be verified in the code in two places: in the function defining block rewards and in the function explicitly setting the max. These supply dynamics can be seen in Figure 2. Interestingly, the mining process will be ongoing for roughly 100 calendar years, even though the vast majority of the supply will have already been created by 2040. Figure 2: Bitcoin Mined per Halving Cycle and Circulating Supply, Millions Implications for Investors The broad implications of the halving are threefold: Reduced bitcoin-denominated payment for miners (reduced block reward) Reduced supply coming online, with a max supply of 21 million, which is estimated to be achieved in the year 2140 An alternative, transparent monetary policy providing an opportunity for an alternative investment exposure Put simply, bitcoin monetary policy is very different from the monetary policies employed by global governments, which can print as much money as they desire at any time. The first implication is that holding all else constant, including bitcoin price in USD terms, it can lead to pressure on miners as their input costs come in the form of energy to run the computers doing the work of adding these blocks to the blockchain. If the USD price doesn’t remain above input costs, poorly capitalized bitcoin mining companies may be forced to consolidate, restructure or shut down. Investors with bitcoin mining equity exposure may want to be mindful of this dynamic as we see the price of bitcoin evolve over the coming weeks. The second implication is to reiterate the overall reduction in bitcoin supply coming into circulation. With only so many blocks processed per day, the miner is rewarded with less newly minted bitcoin for each block. With the current iteration of the halving, these block rewards have been reduced from 6.25 to 3.125 bitcoins, marking a point in time where 19.7 million bitcoins (or nearly 94% of supply) are in circulation. Since these rewards are halved regularly, the overall newly minted bitcoin reduces until we eventually reach 0 for a block reward and a maximum circulating supply of 21 million bitcoins. The third serves as a reminder of the transparent and immutable monetary policy implemented through the bitcoin software. There is no question about if and when these reductions in issuance take place, nor is there a group of leaders such as central bank policy makers reacting to the data to determine the best policy actions going forward. The bitcoin network is global, operating 24 hours a day, 365 days a year. Use cases of the network may differ depending on where an individual is based and whether that person’s home currency is more stable (think U.S. dollar, Swiss franc, euro, Japanese yen, British pound) or less stable (Turkish lira, Argentinian peso, Nigerian naira). Is It Too Late? Given recent performance, investors reading this may wonder if it is too late to consider bitcoin in weighing the applicable risks. Many institutions are only just beginning to allocate or evaluate such investments, meaning bitcoin’s total market capitalization has reached a point of USD 1.3 trillion 1 . With a significant portion of global capital not yet deployed in this space, it is still early days. We saw this with the introduction of the spot bitcoin ETFs in the U.S . Figure 3: Bitcoin Halving Cycle Details Furthermore, halving events have historically been a great time to begin allocating. In previous cycles, significant positive price action has followed halvings, with each returning multiple times the initial investment within approximately one year from the onset. We know the future is uncertain, and we can’t look at history to predict what will happen next, but it is worth noting that a pattern has emerged in alignment with the basic supply and demand narratives from above. To give Figure 4 some additional detail and clarification : First Halving: The date of the Halving event was November 28, 2012. 1M is from the halving date to December 28, 2012, 6M is from the halving date to May 28, 2012 and 1Y is from the halving date to November 28, 2013. The price of 1-bitcoin on the halving date was $12.30, whereas 1M forward it was $13.42, 9.1% higher than on the halving date. 6M forward it was $125.87, which was 923.7% higher than on the halving date. 1Y forward it was $1,012.81, which was 8,136.9% higher than on the halving date. Second Halving: The date of the Halving event was July 9, 2016. 1M is from the halving date to August 9, 2016. 6M is from the halving date to January 9, 2017. 1Y is from the halving date to July 9, 2017. The price of 1-bitcoin on the halving date was $657.32. The price 1M forward was $585.99, which was 10.9% below that of the halving date. The price 6M forward was $901.68, which was 37.2% above that of the halving date. The price 1Y forward was $2,505.72, which was 281.2% above that of the halving date. Third Halving: The date of the Halving event was May 11, 2020. 1M is from the halving date to June 11, 2020. 6M is from the halving date to November 11, 2020. 1Y is from the halving date to May 11, 2021. The price of 1-bitcoin on the halving date was $8,599.78. The price 1M forward was $9,324.48, which was 8.4% above that of the halving date. The price 6M forward was $15,693.91, which was 82.5% above that of the halving date. The price 1Y forward was $56,714.09, which was 559.5% above that of the halving date. Figure 4: Historical Halving Events It will be interesting to see how things play out in the coming weeks. This halving is the first that has seen such widespread media coverage - notably traditional financial news outlets like Bloomberg and CNBC - as well as increased access through widely available ETF offerings, improving ease of access and institutions coming onboard. 1 Sources: Capital.com, ZenLedger, WisdomTree, 2024. Supply Mined, Supply in Circulation, % Supply in Circulation are as of end of period (halving cycle). 2 Source, as is referenced under the chart, is Glassnode, in that we use Glassnotes data to pull in the relevant points for the numbers shown. Christopher Gannatti, Global Head of Reasearch Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he was based out of WisdomTree’s London office and was responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. In November 2021, Christopher was promoted to Global Head of Research, now responsible for numerous communications on investment strategy globally, particularly in the thematic equity space. Christopher came to WisdomTree from Lord Abbett, where he worked for four and a half years as a Regional Consultant. He received his MBA in Quantitative Finance, Accounting, and Economics from NYU’s Stern School of Business in 2010, and he received his bachelor’s degree from Colgate University in Economics in 2006. Christopher is a holder of the Chartered Financial Analyst Designation. Blake Heimann, Senior Associate, Quantitative Research Blake Heimann is a Senior Associate on the Quantitative Research & Multi Asset Solutions team at WisdomTree, based in Europe. He initially joined WisdomTree in 2020 as an Analyst on the Research team in the U.S. In his current role, he is responsible for supporting the creation, maintenance, and reconstitution of equity and digital asset indices. Blake's finance career began in 2017 at TD Ameritrade, where he started as an Analyst before transitioning to a role as a Quantitative Analyst. During this time, he focused on research and development of machine learning applications in finance. Blake holds bachelor's degrees in Mathematics and Economics from Iowa State University, and he has completed his Master's in Computer Science with a specialization in Machine Learning at Georgia Tech. Original Post
2024-04-24 08:20:00
These 3 Cryptos Prepare to Hit New ATHs In May
Cryptocurrency markets buzz with energy as a select few coins exhibit patterns suggesting they’re on the cusp of reaching unprecedented price levels. With the bull run of 2024 unfolding, market enthusiasts closely monitor these standout performers. This article delves into three specific cryptocurrencies that experts believe have the potential to set new records in the Continue Reading: These 3 Cryptos Prepare to Hit New ATHs In May
2024-04-24 08:19:56
Bandit Network's Points SDK and Brave Ads Power Astar zkEVM's Quest Platform "Yoki Origins"
Bandit Network's Points SDK and Brave Ads Power Astar zkEVM's Quest Platform "Yoki Origins"
2024-04-24 08:17:42
Changpeng Zhao writes an apology letter to the Judge as he faces jail time
Changpeng “CZ” Zhao, the founder and former CEO of Binance, has officially apologized for his past decisions in a comprehensive letter to the judge overseeing his trial. This apology came just days before his sentencing, scheduled for April 30, following a plea deal with the U.S. Department of Justice in late 2023. Despite previously waiving
2024-04-24 08:15:51
So.Social: Social protocols for new generation of Web3 social networking
So.Social has released groundbreaking Web3 social protocols, designed to disrupt centralized Web2 social platforms, creating
2024-04-24 08:15:41
DeeStream’s Momentum Unmatched: Solana & Avalanche Dive into Stage 2 Presale Eyeing Unprecedented 100X Success
The post DeeStream’s Momentum Unmatched: Solana & Avalanche Dive into Stage 2 Presale Eyeing Unprecedented 100X Success appeared first on Coinpedia Fintech News The Solana network has seen a significant increase in spam transactions, yet its pricing has remained stable at $189.45. Meanwhile, the Avalanche price has dipped below $50 due to technical selling, but substantial investments from crypto whales have brought a wave of optimism to the ecosystem. Concurrently, the second stage presale of DeeStream is drawing …
2024-04-24 08:15:37
XRP looks for a fresh surge to $0.70
Ripple’s XRP has been up in the last 24 hours, setting all the right tunes to further mark an uptick in its valuation. Sentiments have been optimistic on a macro level since the time Bitcoin Halving concluded. A fresh surge could be as high as $0.70 if all factors hold on to their seats. Whales …
2024-04-24 08:15:01
First Mover Americas: Hedera's HBAR Soars on Exaggerated BackRock Link
The latest price moves in bitcoin (BTC) and crypto markets in context for April 24, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
2024-04-24 08:13:30
Block (NYSE:SQ) is Building Its Own Mining Rig
Jack Dorsey’s company, Block (NYSE:SQ), formerly Square, is expanding its bitcoin mining efforts, transitioning from chip design to developing a co...
2024-04-24 08:11:15
Just-In: Terra’s Do Kwon Files Appeal Against Extradition to US
Do Kwon, co-founder of cryptocurrency firm Terraform Labs, is currently facing extradition requests from both South Korea and the United States. Recently, his legal representatives in Montenegro appealed against a ruling by the Podgorica High Court that found grounds for his extradition to both countries. Legal Battle in Montenegro Do Kwon’s legal team in Montenegro The post Just-In: Terra’s Do Kwon Files Appeal Against Extradition to US appeared first on CoinGape .
2024-04-24 07:42:40
Dogecoin set for potential surge as DOGE holds above bullish trends
Meme cryptocurrency Dogecoin (DOGE) has established itself as a major player in the financial sector, especially within payment systems. With … Continue reading The post Dogecoin set for potential surge as DOGE holds above bullish trends appeared first on Finbold .
2024-04-24 07:41:12
How To Trade This Week As $9.4 Billion in Crypto Options Set to Expire
The crypto market celebrated the fourth Bitcoin halving on April 20, but Bitcoin and crypto prices didn’t see a significant rally or major upside. Traders are actually awaiting the first crypto market expiry after the Bitcoin halving, which is also a monthly expiry and can cause more volatility. Deribit reported over $9.4 billion in crypto The post How To Trade This Week As $9.4 Billion in Crypto Options Set to Expire appeared first on CoinGape .
2024-04-24 07:41:03
SEC delays Ethereum ETF decision amid regulatory review
The United States Securities and Exchange Commission (SEC) has opted to defer its decision on Ethereum exchange-traded fund (ETF) proposals submitted by investment firms Grayscale and Franklin Templeton. The SEC’s decision marks a significant development in the quest to bring cryptocurrency-based ETFs to market and underscores the regulatory complexities surrounding digital assets within the traditional …
2024-04-24 07:40:49
Record Time Growth: DeeStream Attracts Ethereum Classic & TRON Surging Past 3,300 Holders with Revolutionary Streaming Platform
Ethereum Classic ecosystem recently demonstrated that network security vulnerabilities can continue. TRON is also a player in the cryptocurrency industry, with legal and regulatory difficulties, including SEC action and allegations of unlawful activity on its network. On the other hand, DeeStream, a decentralized streaming network with novel innovations and significant community engagement, has marked a new milestone with over 3,300 holders in its presale stage two.
2024-04-24 07:39:31
Bitcoin (BTC) Ownership Landscape Sees Major Shift, New Whales Accumulate
As the Bitcoin (BTC) price consolidates around $66,500 levels, key on-chain development suggests a strong exchange of hands among the Bitcoin owners. Bitcoin whales are back in action while old hands have been distributing their coins once again. Old Bitcoins Moving To New Holders CryptoQuant CEO Ki Young Ju recently reported a significant milestone in The post Bitcoin (BTC) Ownership Landscape Sees Major Shift, New Whales Accumulate appeared first on CoinGape .
2024-04-24 07:39:19
Earn free XRP now!
1 XRP = 0.00 USD
1 XRP = 0.00 PHP