Bitcoin is eyeing up a move to the upside leading up to May’s highly-anticipated halving event, which will saw rewards for miners slashed The search interest for Bitcoin’s third quadrennial halving goes through the roof one month before the event
Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.
Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Nietzsche used to say: Success is just a product of your motivation!
We closed the day, April 13 2020, at a price of $6,845. That’s a minor 1.73 percent decline in 24 hours, or -$120.57. It was the lowest closing price in seven days.
We’re still 65 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).
Bitcoin’s market cap ended the day at $125,422,221,237. It now commands 65 percent of the total crypto market.
Yesterday’s volume of $38,619,308,647 was the highest in two days, 82 percent above the year’s average, and 47 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 698 tons of gold.
A total of 287,942 transactions were conducted yesterday, which is 10 percent below the year’s average and 36 percent below the year’s high.
Yesterday’s average transaction fee concerned $0.11. That’s $3.60 below the year’s high of $3.71.
As of now, there are 10,741 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.6 percent of the total supply, the top 100 14.9 percent, and the top 1000 35.1 percent.
With a market capitalization of $124 billion, Thermo Fisher Scientific has a market capitalization most similar to that of Bitcoin at the moment.
On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.
He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 97.3 percent behind being on track. Bitcoin‘s price should have been $276,764 by now, according to dickline.info.
Bitcoin used an estimated 200 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 73 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,8 million US households. Bitcoin’s energy consumption now represents 0.33% of the whole world’s electricity use.
Yesterday 26,814 fresh tweets about Bitcoin were sent out into the world. That’s 42.3 percent above the year’s average. The maximum amount of tweets per day this year about Bitcoin was 75,543.
This was one of yesterday’s most engaged tweets about Bitcoin:
BREAKING: Google searches for “Bitcoin Halving” are trending worldwide. #Bitcoin pic.twitter.com/hHcJzbpOov
— Bloqport (@Bloqport) April 12, 2020
This was yesterday’s most upvoted Reddit post about Bitcoin:
Last week the data was merely ESTIMATED. The ACTUAL data shows worldwide interest in “bitcoin halving” has significantly surpassed the interest that occurred during the week of the 2016 halving. from r/Bitcoin
My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.
Author: Satoshi Nakaboto
Latest Bitcoin price and analysis (BTC to USD)
Bitcoin endured a surprisingly volatile Easter weekend as it traded within a 10% range between $7,300 and $6,570.
As of Tuesday morning it is trading firmly in the middle of that range, with price being lured back towards the $6,800 mark.
Bitcoin continues to present a number of bullish cases on both lower and higher time frames, the first of which would be a breakout above the $7,400 level of resistance before next month’s halving event.
The next test would be taking out the daily 200 moving average, which is currently in confluence with the $8,080 level.
However, from a higher time frame perspective Bitcoin needs to avoid closing daily and weekly candles beneath the diagonal trendline dating back to 2017, which is now at around $4,500.
A break below this level would indicate a transition into a bearish phase in the market, with downside targets continuing to emerge at $1,800 and $1,150.
Another point of resistance to the upside is at around $9,400 as it connects to the diagonal trendline dating back to December 2017, which has not been broken for more than two years.
Regardless of whether the halving has the desired impact on price action remains to be seen, but from a short-term perspective the trend is absolutely bullish with Bitcoin being 71.68% up since the turn of the year despite economic instability driven by the Coronavirus.
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In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
Author: Oliver Knight
April 14, 2020
Priced In? ‘Bitcoin (BTC) Halving’ Google Searches About to Reach New All-Time High
The search interest for Bitcoin’s third quadrennial halving goes through the roof one month before the event
Google searches for the term ‘Bitcoin halving’ are about to reach a new all-time high, according to a tweet posted by Blockstream’s Zack Voell.
Public interest is heating up with 28 days left until the much-anticipated event.
The second Bitcoin (BTC) halving, which reduced Bitcoin’s block reward from 25 BTC to 12.5 BTC, happened on July 16. Even though this supply cut was long before the great crypto bubble of late 2017, it managed to generate a lot of mainstream interest with the likes of TechCrunch and Yahoo! Finance covering the big moment.
Whether you believe that the 2020 reward reduction will be a non-event or rocket propellant for another moon shot, Google searches show that the interest is definitely there.
This also coincided with an uptick in ‘buy Bitcoin’ searches that came after the ‘price halving’ in March.
With the beginning of Bitcoin’s fourth era just around the corner, the million-dollar question is whether forward-looking investors have already priced the pre-scheduled event that was programmed in BTC’s protocol by its mysterious creator Satoshi Nakamoto.
The most obvious answer would be yes. However, this would mean that the annual revenue of miners would be reduced in half, which means that the price has some catching up to do for them to stay afloat.
The price of Bitcoin (BTC) surged more than 4,000 percent after its 2016 halving.
Author: Tue, 04/14/2020 – 07:32