As I was preparing to write a content analysis of the price of Bitcoin before its Halving, I stumbled upon it just as its value plummeted from $9,600 to $8,100, as you can see in the graph below.
The first thing that comes to mind is that everything can happen before the halving of next May 12. Although there are more and more voices marking a possible historical maximum of the BTC after the halving, it is also valid to consider that the opposite can happen.
This doesn’t mean that it’s not a debacle for
- go live this quarter
- a salient issue
- backed by $4 million
- invest in fractions of stocks
- explained dante disparte
, but rather that it’s an abrupt movement trying to find a balance point in the price of the BTC.
What is the future of Bitcoin mining if the BTC price doesn’t rise?
The price of Bitcoin sinks in just 5 minutes
At this point, no one is surprised by the high volatility of Bitcoin. But what happened a few minutes ago will be cause for future analysis. In a little less than 5 minutes its value went from US$ 9,600 to US$ 8,100.
At the time of writing, the price of Bitcoin has recovered to US$ 8,800, with an exorbitant volume of trading.
Another thing I am observing is the strong price difference between the main exchanges in the world: Binance trades US$ 8,782, Coinbase US$ 8,655, Bitfinex US$ 8,810 and Huobi US$ 8,742. The CFD Plus500 exchange quotes it at US$ 8,850.
Bitcoin drags in the cryptomarket
The collapse of Bitcoin is dragging down the entire crypt market, Ethereum sinks 9.28%, losing the $200 at one stroke, while the XRP drops 10%, jeopardizing the key support of the $0.20.
Decisive hours are coming to find out what decision the bitcoin miners will make before halving. Will they still have enough incentive to keep the network at a reward of 6.25 BTC per block, or will they take advantage of selling at these levels and wait and see what happens?
We invite you to follow our special coverage of Bitcoin halving at Crypt Trend.