Blockchain

Kaspa (KAS) has emerged as a notable altcoin, drawing considerable interest from investors. Notably, the cryptocurrency has achieved its all-time high, experiencing an impressive 66% increase over the previous week.

Examining the monthly performance charts reveals an even more substantial upward trajectory, with KAS exhibiting a remarkable surge of over 90%. Zooming out to a year-long perspective, the altcoin has witnessed an astonishing increase of over 2,000%, showcasing its significant growth over this extended period.

Investors are closely monitoring Kaspa as it continues to showcase strong bullish momentum, reflecting the cryptocurrency market’s dynamic nature. The rapid and substantial increases in both short-term and long-term intervals underscore the token’s potential for high returns.

Kaspa Shows Mettle, Pulls Off Its Own Rally

With Bitcoin surpassing the $36,800 threshold and Ethereum exceeding $2,000, the native token of Kaspa pulled off its own ascent, rising from approximately $0.070986 to reach an unprecedented peak of $0.092917.

Based on the aforementioned data, it can be observed that Kaspa is one of the limited number of tokens now experiencing their highest recorded values. Many cryptocurrencies registered a significant decline from their historical peak values following the occurrence of a market downturn commonly referred to as the “crypto winter.” This period witnessed the collapse of prominent crypto entities such as Terra Luna and FTX crypto exchange.

Based on the data provided by CoinMarketCap, it can be observed that the trading volume of Kaspa’s (KAS) has experienced a significant surge of more than 95%.

Additionally, the market capitalization of KAS has exhibited a notable gain of nearly 20%. Furthermore, there has been a significant increase in trading volume, with a jump of around 380% compared to the preceding week. The current market capitalization of the project stands just above $1.8 billion.

This increase in value positions Kaspa as a compelling investment option, capturing the attention of those seeking opportunities in the ever-evolving landscape of digital assets. As the altcoin landscape continues to evolve, Kaspa’s impressive performance highlights its resilience and appeal, making it a noteworthy player in the cryptocurrency market.

The inclusion of Kaspa on Coinone’s platform is its initial foray into the cryptocurrency market in South Korea, granting it significant visibility among a group of investors who are very interested in blockchain initiatives and digital assets. The unique GHOSTDAG protocol, authored by Kaspa, garnered the interest of Korean traders.

Kaspa Makes Foray Into South Korea

The latest indication of Kaspa’s growing popularity among cryptocurrency traders and investors is its successful entry into the South Korean market. As Kaspa develops and realizes its lofty vision of scalability, security, and practical application, it appears ready for more expansion.

KAS’s future trajectory remains uncertain, with the potential for further rally or a correction. Reaching $1 would signify a remarkable 1062% growth, though it seems unlikely currently. The possibility of a correction looms, despite community members maintaining a target of at least $0.10.

The recent surge in Bitcoin (BTC) to a yearly high of over $36k may have influenced KAS’s all-time high, suggesting that KAS and other altcoins could follow BTC’s lead if it continues to rally.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Coingecko

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LINK price has undoubtedly been one of the major highlights of the cryptocurrency market in 2023. Over the past week, the cryptocurrency maintained its recent positive momentum, reaching a new yearly high of $15.8 on Thursday, November 9. 

A crypto analyst and trader who predicted this latest bullish run has offered more insight on what to expect from the Chainlink token.

What’s Next For LINK Price?

A crypto analyst with the pseudonym Mags took to X (formerly Twitter) to share an interesting update on the LINK price action. While referring to their initial analysis, the crypto analyst predicted the likely movement of Chainlink’s price over the coming days.

$LINK broke out and went vertical without any re-test as said in my previous update!

Expecting a one more leg up till $18 before any HTF pullback!

+88% since breakout

won’t recommend any new entires if you were not positioned already https://t.co/NtSmbdriGi pic.twitter.com/jq5S3CLtR1

— Mags (@thescalpingpro) November 11, 2023

In the October 22 analysis, Mags highlighted that the price of LINK had broken out of a 512-day consolidation wedge. The crypto trader then forecasted a straight rally to $12.54, a level the altcoin had surpassed earlier this week.

From the current standpoint, Mags believes that the LINK price will continue its “vertical” upward run without any re-test. “Expecting one more leg up till $18 before any HTF pullback,” the crypto analyst postulated in their post on X.

As of this writing, the LINK token is valued at $15.06, reflecting more than a 3.6% price increase in the past 24 hours. While the altcoin’s price has been moving mostly sideways in the last few days, it has maintained most of its gains in the past week.

According to data from CoinGecko, the Chainlink token has swelled by more than 33% over the past seven days. This figure underscores the altcoin’s position as one of the best performers in the crypto market over the last few months.

Chainlink’s Whale Activity Hits Six-Month High

A recent on-chain data report by blockchain analytics firm Santiment revealed that whale activity on the Chainlink network had hit its highest level in six months. Interestingly, the network is not alone in this trend, as other blockchains, including Bitcoin, Ethereum, and Cardano, have also experienced a similar spike in whale activity.

As Santiment noted, while there might be some profit-taking amongst the whales at the conclusion of the week, this does not necessarily mean that tops are imminent. Hence, the analytics firm’s revelation somewhat strengthens the case of a continuous upward movement for the LINK price.

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Finder’s board of crypto market experts has predicted a positive long-term increase in the price of Ethereum in 2023, 2025, and 2030. 

Ethereum To Surpass $14,000 By 2030?

The price of Ethereum has been on a fairly positive sentiment since the news of BlackRock’s Ethereum Spot ETF filing news. The cryptocurrency saw a spike that took its price above $2000 this week. 

Industry specialists from Finder, an independent comparison platform and information service have stated that Ethereum will continue experiencing a price increase in the coming years. 

The comparison platform has predicted that Ethereum would drop to $1,840 by the end of 2023 and Ethereum’s price at the time of writing is $2,060.8. Crypto specialists at Finder also expect Ethereum’s value to increase to $5,824 by 2025 and $14,411 by 2030.

The financial information service platform has stated that the reason for this price prediction is due to Ethereum’s huge growth potential and the increasing demand for Ethereum staking. 

Lead Market Analyst at Swyftx, Pav Hundal has supported Ethereum’s price increase prediction. Hundal stated that the upcoming Bitcoin halving in 2024 may push the cryptocurrency’s price up, as historical patterns have suggested a potential upward movement for Ethereum’s value during past Bitcoin halving events. 

“Historically, as we approach a Bitcoin halving, Ethereum tends to revisit its price valuations from earlier that year. This trend aligns with the repeated observation that Bitcoin’s dominance (proportion of the total [crypto] market capitalization) swells as we near the halving event. We can anticipate that there will be a potential shift from altcoins [like ETH] back into Bitcoin in the lead-up to the halving,” Hundal stated. 

Finder Experts Say BTC Still Holds Upper Hand

Despite the positive outlook of Ethereum’s price in the future by Finder’s crypto experts, a large majority of Finder’s specialists have expressed skepticism about Ethereum’s market capitalization surpassing that of Bitcoin. 

When asked if they saw ETH’s market cap “flipping” BTCs, 43% of the expert panelists remained unconvinced that Ethereum would overtake Bitcoin. 

Creator of Seasonal Tokens, Ruadhan O. has stated that he believed that Ethereum’s utility surpassed Bitcoin’s however he does not see ETH’s market cap surpassing BTC’s. He explained that his reasons were due to Ethereum’s high competition with other altcoins in the crypto market. 

“Ethereum remains expensive to use [and] it will lose market share to cheaper alternatives. Bitcoin isn’t useful. Nobody needs a Bitcoin. There’s no demand for Bitcoin’s utility at a lower price because there’s no utility. This is why Bitcoin isn’t losing market share to other proof-of-work coins,” O stated. 

Featured image from Shutterstock

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Solana is distinguishing itself in the crypto market, with a remarkable 50% monthly gain and an extraordinary 450% year-to-date increase, contributing to the overall surge in optimism.

This trend is further amplified by Bitcoin’s ascent beyond $37,000 and its ambitious aim to reach $40,000 by year-end. Solana’s standout performance adds a notable dimension to the current positive sentiment prevailing in the cryptocurrency space.

In an early morning rally, Solana broke the $50 barrier, marking its highest point since May 22, 2022. This exceptional performance underscores growing confidence in the crypto space, with Solana’s breakout signaling its prominence in the current market rally.

The huge increase in the price of SOL can be ascribed to the significant advancement of BlackRock’s application for an Ethereum exchange-traded fund (ETF). This observation signifies an increasing acknowledgment and approval of assets built on the Ethereum platform, which in turn contributes to the favorable trajectory of the overall cryptocurrency market and has a specific influence on the performance of Solana.

Solana: Navigating The FTX Liquidation Wave And Post-Conference Surge

In particular, this upsurge also transpired during the ongoing liquidation of SOL tokens by the bankruptcy estate of FTX. Just this September, the Delaware Bankruptcy Court granted approval for the disposal of the assets of the defunct exchange, comprising 55.75 million SOL.

Following its annual conference, Solana saw an impressive price spike that demonstrated its durability in the face of uncertainty surrounding FTX Group, a major SOL token holder that is currently experiencing financial turmoil.

SOL’s increasing trajectory looks to favor FTX creditors notwithstanding FTX’s contradictory declarations regarding its investment. SOL’s current trading range may be able to recover the losses incurred by FTX exchange users, according to Thomas Braziel, CEO of 117 Partners.

The Founder of FTX Group, Sam Bankman-Fried, is facing legal action for allegedly embezzling client monies, which is why this is happening.

Solana Enjoys Sustained Upward Trajectory 

Meanwhile, Jacob Canfield, a well-known figure in the realm of cryptocurrency trading, has provided an analysis elucidating his belief in the continued upward trajectory of the Solana price surge. Canfield expressed his belief that Solana is poised to maintain its position as one of the most influential entities in the ongoing bull market cycle.

In my opinion, I think that @Solana is going to continue to be one of the biggest movers during this current bull market cycle and I’m going to lay out some ideas for you.

It’s possible that with the Ethereum ETF news that some of these ideas don’t play out, but it’s worth… pic.twitter.com/oii8vWs0W9

— Jacob Canfield (@JacobCanfield) November 9, 2023

In another development, the declining trend of Solana’s total value locked (TVL), reflecting the amount deposited in its smart contracts, has reversed after six consecutive weeks. In the last three days alone, Solana’s DApps deposits have experienced a 10% increase.

Although the current level of 11.1 million SOL remains below the pre-FTX exchange bankruptcy level of 30 million SOL, this recent upward trend indicates that the Solana network may have passed its worst period.

In the upcoming days, the trajectory remains dynamic and uncertain as the intricate dance between bulls and bears unfolds. A substantial downturn could be in the cards for Solana if the bears persist, testing a critical support at $38.77 within the current month.

On the flip side, failure to sustain prices above $54.01 and a bearish takeover may lead to a loss of momentum, resulting in a descent to the $46.83 support level.

However, should the bulls maintain control and keep the price above $54.01, the market is positioned for a robust upswing, potentially challenging the $57.84 resistance. Furthermore, a breakthrough past the $60.06 mark could pave the way for a sustained rally towards the upper resistance of $65.08.

Will SOL Reach $60 This November?

As Solana breaks past the $54 mark, anticipation looms over whether SOL will surge to $60 within the current month. The recent momentum shift and positive trends in total value locked (TVL) and DApps deposits suggest an optimistic outlook for Solana.

Investors are closely monitoring the developments, eager to see if the cryptocurrency can maintain its upward trajectory. The coming days hold the key to whether Solana will achieve the $60 milestone, marking a significant chapter in its market performance.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Pixabay

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In the evolving cryptocurrency market, XRP, currently ranked as the fifth largest digital asset, has recently exhibited a modest price increase compared to its major counterparts. 

However, when examining XRP’s performance across various time frames, the token has reported significant gains. Nonetheless, it is worth noting that XRP is currently trading well below its yearly high, in contrast to its peers who have achieved and surpassed new highs in 2023 during the recent bullish surge.

Impending XRP Price Breakout?

Prominent industry expert using the pseudonym “Crypto Insight” on the X platform (formerly known as Twitter) shared an intriguing update with his over 20,000 followers, signaling an impending XRP blastoff.

According to Crypto Insight, it becomes apparent that XRP tends to lag behind the price action of Bitcoin (BTC), the leading cryptocurrency. However, there are indications that XRP breakouts are gradually converging with the movements of BTC.

Analyzing historical data, Crypto Insight highlights that the time taken for XRP to experience significant breakouts has been decreasing over time. 

The first major breakout took approximately 22 days, while the most recent pump occurred within a shorter time frame of 13 days. If this trend of closing the gap between XRP and BTC continues, it suggests a potential breakout date around November 15th.

Additionally, XRP has undergone a cooling-off period in the 4-hour time frame, implying that there might be further room for a downside correction before a reversal to the upside occurs.

Crypto Analyst Targets $5.5

Crypto analyst Egrag Crypto has recently unveiled a noteworthy forecast for XRP, centering around the Multi-Year Ascending Triangle (MYAT) pattern, which holds significant implications for XRP’s price movements.

According to Egrag’s analysis, The MYAT pattern indicates that XRP experienced a breakout above the Symmetrical Triangle after reaching the 70% completion mark, which aligns with the timeline of July on the chart. 

The surge in price to $0.93 and the subsequent retest at the breakout point are seen as part of a standard retest process, indicating potential strength in the upward momentum.

Looking ahead, Egarg Crypto highlights several key projections for XRP:

XRP appears to be poised to reach a target of $1.3, as indicated by the Blue Ascending Triangle on the chart. This level represents a significant milestone that XRP could potentially achieve in the near future.
The next notable move for XRP could potentially propel it to $5.5. However, it is important to note that at this price level, a considerable selloff by retail investors is anticipated, according to Egrag. 
Building upon the larger symmetrical triangle pattern, Egarg Crypto suggests that XRP could see a remarkable 500% price increase in the future, indicating the potential for a substantial pump. 

Currently, XRP is grappling with the challenge of establishing consolidation above the crucial $0.600 level, which holds significant implications for the cryptocurrency’s future price uptrend and overall prospects. In the past 30 days, XRP has recorded a gain of 35%. 

However, the sustainability of this price action for the anticipated second leg up in November remains uncertain.

Featured image from Shutterstock, chart from TradingView.com 

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When Ethereum (ETH) exploded past $2,000 on November 9, Erik Smith, the Chief Investment Officer of 401 Capital, observed that the platform’s average daily revenue surged to the highest level in four months.

According to data, Ethereum generated $10 million in daily revenue, extending gains registered on the previous day and pushing the metric to the highest point since July.

Ethereum Prices Above $2,000, Revenue Rising In November

For now, ETH prices remain muted but are trading around November 9 highs and remain within a bullish formation backed by decent trading volumes. Prices are still trending above the $2,000 psychological support, a critical reaction level.

A look at the Ethereum candlestick arrangement in the daily chart shows that while there is a notable spike in daily revenue, prices are still below July 2023 highs. Then, the coin soared to as high as $2,100 before pulling back as the momentum triggered by the broader crypto’s expectation of a Bitcoin Exchange-Traded Fund (ETF) approval faded. However, prices have since sharply recovered, adding roughly 40% from October lows and shaking off the weakness registered on August 17 when the coin plunged by 14%.

Token Terminal data shows that Ethereum’s daily revenue has steadily risen in the first ten days of November. Looking at trends, the average daily income has doubled from $5 million in the first five days of the month. Usually, an uptick in daily average revenue in a network points to increasing on-chain activity either through smart contract deployment or simple transfers, which necessitates the payment of gas fees. 

Improving Scalability In The Long Term

How the widespread adoption of Ethereum layer-2 and sidechain scaling solutions will impact the network revenue is not immediately apparent. }

What’s clear is that the more protocols leverage the protocol, deploying multiple solutions, the more revenue the network will generate for validators and stakers. Staking rewards are drawn partly from transaction fees paid as gas, new issuance, and burned miner extractable value (MEV). 

Still, the dollar value of ETH minted as revenue depends on spot rates. If the uptrend is sustained, this figure will continue expanding. Even so, there might be more demand for the network, which is still struggling to scale on-chain. 

Ethereum 2.0 aims to resolve these challenges in the coming years by increasing the general throughput via solutions like Sharding. Sharding will split Ethereum into small but interconnected networks called shards. Each shard will independently process each set of transactions and maintain its state, allowing the mainnet to scale.

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In a recent interview with CNBC, Brad Garlinghouse addressed the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) over the classification of XRP. 

Garlinghouse highlighted three consecutive wins for Ripple in the legal proceedings, emphasizing that the first judgment on July 13 clearly stated that XRP is not a security. He also mentioned denying the court’s interlocutory appeal and dismissing allegations against Ripple co-founder Chris Larsen and himself.

Ripple CEO Brad Garlinghouse Criticizes SEC’s Regulatory Approach

In the interview, Garlinghouse criticized the SEC’s approach to regulation by enforcement and lawsuit patterns, stating that the SEC needs to step back and realize that their actions are deviating from its mission to protect investors. 

Garlinghouse questioned who the SEC is truly protecting in this journey and called for a change in their regulatory approach.

Commenting on the exchange-traded funds (ETFs) currently awaiting approval, Garlinghouse acknowledged that an approved ETF could bring significant capital to the market.

However, Brad emphasized that regulatory clarity, utility, and scalable problem-solving are essential for the industry to thrive. Garlinghouse expressed his optimism for the industry’s future, citing macro catalysts that will propel it forward in the next five to ten years.

Pro-XRP Lawyer Challenges SEC’s $770M Disgorgement Demand

In a separate development, pro-XRP lawyer John Deaton chimed in on X (formerly Twitter), stating that Ripple would not come close to paying the $770 million disgorgement demanded by the SEC. 

Deaton argued that the SEC’s claim for disgorgement related to XRP sales in the UK, Japan, Switzerland, and other jurisdictions is flawed. He pointed out that XRP is deemed a non-security in those jurisdictions and was considered a legal exchange/utility token. 

Deaton questioned the SEC’s attempt to disgorge sales made in those jurisdictions and emphasized that the Court’s goal is not to punish Ripple as this is not a fraud case.

Deaton further explained that the disgorgement amount would be significantly reduced after deducting non-US sales, sales to accredited investors and considering the minimal harm caused by ODL (On-Demand Liquidity) transactions. 

Deaton highlighted that a petition filed by 75,000 XRP holders claimed that the SEC, not Ripple, was causing harm, further bolstering Ripple’s position.

The remarks made by Brad Garlinghouse and John Deaton underscore the ongoing legal battle between Ripple and the SEC, with Ripple asserting its stance on XRP’s classification and criticizing the SEC’s regulatory approach. 

The outcome of this high-profile case will likely have significant implications for the cryptocurrency industry as a whole.

As of the time of writing, XRP is currently trading at $0.660, exhibiting a sideways price movement and consolidating above this crucial level. Despite the lack of significant upward or downward movement, the token has experienced substantial gains amidst the recent bullish reversal in the market.

Over the past 30 days, XRP has surged by more than 35%, and on a year-to-date basis, it has recorded an impressive growth of over 70%.

Featured image from Shutterstock, chart from TradingView.com 

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Ethereum (ETH) has been experiencing an upward trajectory for quite a while now, reaching its highest yearly price point in the week and presenting an impressive 52-week high. 

Ethereum’s Price Supported By Latest Developments 

The Ethereum’s price surge can be traced back to several factors that have propelled the cryptocurrency’s growth. The asset reached its 52-week high of $2,137 on Thursday, November 9, as seen in the chart below. 

One of the factors that has contributed to the crypto asset’s price surge is the number of ETH staked. A rise in ETH staked, which stood at over 28 million, according to data from Beaconscan. 

As of August, the number of validators in the Beacon Chain was approximately 786,000, but today that number is currently at 884,000. This indicates confidence in Ethereum’s long-term stability, which can be promising to investors.

In addition, the token’s on-chain volume has also increased significantly over time. Recent data shows that the asset’s volume now sits at approximately 2.62 billion from 1.5 billion as of September. This indicates an over 70% increase since September.

Blackrock’s Spot Ethereum ETF Sparks Increase

The most recent development that has propelled the asset’s price is BlackRock‘s registration of a spot Ethereum Exchange Traded Fund (ETF). Since the firm made known its registration of a Spot Ethereum ETF, there has been quite an improvement encompassing the cryptocurrency.

Blackrock is the world’s largest asset manager with trillions of dollars in assets under management, the firm that has also applied for a Bitcoin spot ETF. The firm applied for a Bitcoin spot ETF in June 2023. However, it is awaiting a decision from the United States Securities and Exchange Commission (SEC).

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According to Token Unlocks, a platform that tracks upcoming unlocking events, 56% of all the OP token maximum supply is in the to-be-discussed (TBD) allocation, meaning the community is yet to vote and determine where these tokens will be assigned to in the coming weeks or months.

This news is a curious development, especially for OP Mainnet, the team behind one of the most popular Ethereum layer-2 scaling solutions, and OP token holders. 

Billions Of OP Not Assigned

Token Unlocks notes that roughly 2.4 billion OP, representing 55% of the max supply, remains under the TBD allocation. So far, over 831 million OP, or slightly above 19% of the max supply, have been unlocked. 

This revelation also comes when OP prices have been trending higher, breezing past crucial resistance levels. At spot rates, OP is changing hands above September and October highs, temporarily retesting October highs. The bull bar of November 10 anchors the current leg up since it was accompanied by relatively high trading volume. 

Token Unlocks defines a TBD allocation as not assigned a release timing but will be subject to community voting. These tokens can be distributed for governance, Retroactive Public Goods Funding (RetroGPF), ecosystem funding, moved to advisers or partners, and much more.

RetroGPF is a funding mechanism that allows the protocol to support projects building solutions on its general-purpose layer-2 platform. Since it is retroactive, projects or developers don’t have to apply for funding in advance.

Usually, token unlocking releases coins initially locked or vested for a given time. Projects tend to employ this tactic to align the incentives of investors and that of the team. This also concurrently prevents early adopters from mass selling the coin, driving prices lower. Even so, since all specified unlocks are done publicly, transparency allows investors or traders to make informed decisions.

What Will Happen To OP Prices?

For the token’s Mainnet’s case, a big chunk of the max supply remains unassigned at spot rates, which is, as it is, supportive of prices. However, once these tokens are voted for, and the community decides the portion of the maximum supply that can, for instance, be distributed to advisers or used to fund ecosystem projects, then there is a tendency for prices to fall as the unlock date approaches.

According to L2Beat, OP Mainnet is the second largest layer-2 scaling solution for Ethereum after Arbitrum One. OP Mainnet has a total value locked (TVL) of $3.39 billion, commanding a market share of 25%. Meanwhile, Base, a competitor backed by Coinbase, is third with a TVL of $600 million.

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Guide: What Is The Bitcoin (BTC) Halving?

The anticipation around the next BTC halving is palpable among investors and cryptocurrency enthusiasts alike. This process, which slashes the reward for mining Bitcoin transactions in half, is a pivotal event for the economy of the flagship cryptocurrency.

The next BTC halving date is not just a mark on the calendar; it’s a beacon for potential shifts in value and market dynamics, making the question “when is the next BTC halving” all the more critical for market participants. This comprehensive guide dives deep into the concept of Bitcoin halving, its historical impact, and what the future holds as we approach the next halving.

Bitcoin Network 101: The Basics Explained

The next BTC halving is a seminal event in the Bitcoin blockchain’s timeline, marking the point at which the reward for mining new blocks is halved. This event is not just a technical adjustment, but a significant milestone that historically has had profound implications for Bitcoin’s economics and market sentiment. Since the 2020 halving, miners have been receiving 6.25 Bitcoins (BTC) per successfully mined block, a reward that incentivizes the decentralized security of the network.

Looking ahead, the next BTC halving is projected to take place in early-to-mid 2024, a moment when the mining incentive will decrease to 3.125 BTC per block. This editorial delves into the intricacies of the next BTC halving, examining its anticipated date, the countdown to the event, and the broader implications for Bitcoin’s supply and valuation. We will also explore the historical context of past halvings to understand the potential future trajectory of Bitcoin as the reward continues to halve towards the smallest unit of a Bitcoin, one Satoshi.

The Bitcoin network is a triumph of cryptographic achievements and economic incentives that create a trustless system for value transfer. At its core, the network is a distributed database, known as the blockchain, that maintains a continuously growing list of transaction records hardened against tampering and revision. It employs a consensus algorithm called Proof of Work (PoW) to ensure network synchrony and security.

Bitcoin Mining 101

Miners, who are network participants with specialized hardware, compete to solve cryptographically hard puzzles. The solution to these puzzles requires a significant amount of computational power and energy. The first miner to validate a block of transactions by solving the puzzle is granted the right to append that block to the blockchain. This process is referred to as ‘mining’ a block, and it is through this mechanism that transactions are confirmed and the network is secured.

The reward for mining is twofold: miners collect transaction fees from each transaction included in the new block, and they are also awarded a block subsidy. This subsidy is composed of newly created bitcoins and is the mechanism through which new bitcoins are introduced into circulation. The block subsidy is predetermined by the Bitcoin protocol and undergoes a halving event every 210,000 blocks, which historically occurs approximately every four years.

The Bitcoin protocol is designed to be a self-regulating market system. The difficulty of the cryptographic puzzles adjusts approximately every two weeks (“Bitcoin Difficulty Adjustment”), ensuring that the time between each block found remains close to ten minutes, despite the fluctuating amount of computational power dedicated to mining. This difficulty adjustment is critical to the network’s stability and the predictability of Bitcoin issuance.

Definition And Rationale Behind BTC Halving

The BTC halving is an event that is deeply embedded in the Bitcoin protocol, serving as a deflationary mechanism by design. It is a deliberate algorithmic adjustment that occurs every 210,000 blocks, which historically equates to roughly every four years. During this event, the block subsidy awarded to miners for each block mined—comprising new bitcoins created and added to the circulating supply—is cut in half.

This halving process is a critical component of Bitcoin’s economic model, which is characterized by a capped supply limit of 21 million coins. The halving serves to enforce a synthetic form of inflation that is programmatically decreasing over time, ensuring that the issuance of new bitcoins follows a predictable deceleration curve akin to the extraction of a finite resource.

Key Narrative Behind The Bitcoin Halving

The rationale behind this process is multifaceted:

Controlled Supply Emission: By algorithmically enforcing a reduction in the rate at which new bitcoins are created, the halving event ensures that the total supply approaches the maximum cap asymptotically, a stark contrast to fiat currencies which can be printed without limit.
Inflation Hedge: The halving events contribute to Bitcoin’s proposition as a hedge against inflation. As the rate of supply expansion slows down, assuming demand remains constant or increases, the purchasing power of Bitcoin should, in theory, strengthen over time.
Security Incentives: The block subsidy is a critical incentive for miners to expend energy securing the network. As the subsidy decreases, the expectation is that a corresponding increase in the value of Bitcoin will offset the reduced block reward, maintaining or enhancing the security budget.
Market Anticipation and Speculation: Halving events are often accompanied by significant market attention and speculation, leading to increased trading activity and liquidity as investors attempt to predict and capitalize on potential price movements resulting from the supply shock.
Long-Term Viability: By enforcing a methodical reduction in new supply, Bitcoin’s halving events are designed to ensure the network’s long-term viability, preventing the rapid depletion of mining rewards and encouraging sustainable growth.

Brief History Of Past BTC Halving Dates And Their Impact

The history of Bitcoin halving dates back to November 28, 2012, when the first halving occurred at block 210,000. Prior to this event, the block reward was 50 BTC. Post-halving, it was reduced to 25 BTC. The impact was significant, with the price of Bitcoin increasing from approximately $12 in November 2012 to over $1,100 in November 2013, marking an increase of over 9,000%. This price surge is attributed to the reduced supply of new bitcoins and increased media and investor attention.

The Second and Third BTC Halving

The second BTC halving took place on July 9, 2016, at block 420,000, further reducing the block reward to 12.5 BTC. The price at the time of the halving was around $650, and over the next 18 months, Bitcoin experienced unprecedented growth, reaching an all-time high of nearly $20,000 in December 2017. This represented an approximate 3,000% increase from the halving date to the peak of the market cycle.

The most recent, third Bitcoin halving occurred on May 11, 2020, at block 630,000, cutting the block reward down to the current 6.25 BTC. The price of Bitcoin on the halving date hovered around $8,600. Following this halving, Bitcoin entered another bull market, reaching a peak of around $64,000 in April 2021, which corresponds to an increase of roughly 644% from the halving date to the peak.

Each BTC halving has been followed by a period of increased Bitcoin prices, though the extent and duration of these bull markets have varied. The halvings are believed to have a direct impact on the price due to the reduced rate of new Bitcoin creation, which, if demand remains constant or increases, can lead to a higher price per Bitcoin.

The Fourth Bitcoin Halving

It’s important to note that while the Bitcoin halvings are significant, they are not the sole drivers of Bitcoin’s price. Other factors such as regulatory changes, technological advancements, macroeconomic trends, and shifts in investor sentiment also play crucial roles in the cryptocurrency’s valuation.

The next BTC halving is estimated to occur on April 24, 2024, at block 840,000, where the block reward will be reduced to 3.125 BTC. As with previous halvings, there is considerable speculation about the potential impact on the price and mining dynamics of Bitcoin. Historical patterns suggest a potential increase in Bitcoin’s price, but the actual outcome will depend on a complex interplay of market forces at the time.

List Of The Next BTC Halving Dates

Bitcoin halvings occur every 210,000 blocks, which, with an average block time of roughly 10 minutes, translates to approximately every four years. Given that the last halving occurred in May 2020, we can project the next BTC halvings by adding four years to the previous halving date, keeping in mind that variations in actual block times can cause slight deviations from these estimates.

Here is a projected list of the next BTC halving dates until the emission of new bitcoins reaches zero:

The Next BTC Halving: Expected at block 840,000, around April 2024, reducing the block reward to 3.125 BTC.
2028 Halving: Expected at block 1,050,000, reducing the block reward to 1.5625 BTC.
2032 Halving: Expected at block 1,260,000, reducing the block reward to 0.78125 BTC.
2036 Halving: Expected at block 1,470,000, reducing the block reward to 0.390625 BTC.
2040 Halving: Expected at block 1,680,000, reducing the block reward to 0.1953125 BTC.
2044 Halving: Expected at block 1,890,000, reducing the block reward to 0.09765625 BTC.
2048 Halving: Expected at block 2,100,000, reducing the block reward to 0.048828125 BTC.
2052 and Beyond: The next BTC halvings will continue every four years, with the block reward continuing to halve until it becomes negligible.

The process will continue until the maximum supply of 21 million bitcoins has been reached, which is estimated to occur by the year 2140. After the final Bitcoin has been mined, miners will no longer receive block subsidies and will rely solely on transaction fees as compensation for their contribution to the network’s security.

Projecting the Next BTC Halving Date

When Is The Next BTC Halving Date

The next BTC halving is projected to occur when the Bitcoin blockchain reaches block 840,000. Based on the average time it takes to mine a block, the halving events have historically taken place approximately every four years. Given the current block height and the average block time, the next BTC halving is estimated to happen in April 2024.

Current Data And Prediction Of The Next BTC Halving Date

As of the latest data, the next BTC halving is anticipated to occur in April 2024. However, the exact date cannot be predicted with absolute certainty due to the variable nature of block times; it could potentially occur in late March or extend into May 2024. The most precise estimates suggest that the event will likely take place on April 20, 2024, at 10:24:52 AM UTC, according to CoinWarz.

These predictions are based on the current hashrate, or the total computational power, being used to mine and process transactions on the Bitcoin network. Fluctuations in hashrate can affect block times and thus could slightly alter the expected date of the halving. It’s important to note that while these predictions are made with the best available data, they should be considered as estimates rather than exact timings.

Next BTC Halving Countdown

How To Track The BTC Halving Countdown

To track the BTC halving countdown, enthusiasts and investors can use specialized tools that monitor the current block height and calculate the estimated time until the next BTC halving event based on the average block time.
List Of Reliable Countdown Tools

Here are the estimated dates and times for the next BTC halving according to various countdown tools, providing a range of perspectives on when the event is expected to occur:

NiceHash BTC Next Halving Countdown: Estimates the next BTC halving to occur on March 27, 2024, at 19:28 UTC. This tool factors in the current hashrate and block time to provide its countdown.
Bitcoinsensus BTC Halving Countdown: Projects the halving to take place on April 24, 2024, at 04:24:04. Bitcoinsensus provides a detailed countdown timer that updates in real-time.
CoinWarz BTC Halving Countdown: Predicts the halving event will happen on April 20, 2024, at 10:24:21 AM UTC. CoinWarz uses a comprehensive approach to estimate the date and time, considering the latest network data.
Blockchair BTC Halving Countdown: Offers an estimated date and time for the reward drop on April 24, 2024, at 3:22 AM UTC. Blockchair’s countdown is based on sophisticated tracking of blockchain metrics.

Historical Market Trends Pre- And Post-Halving

Historically, Bitcoin has exhibited significant price movements both in anticipation of and following halving events. The halving tends to create a bullish sentiment as the supply of new bitcoins entering the market slows down.

Crypto analyst Rekt Capital has delineated the Bitcoin market cycle into five distinct phases surrounding the next BTC halving event, based on historical patterns:

Pre-Halving Period: With approximately 5.5 months until the April 2024 halving, history suggests that any significant price retracements in this phase can offer substantial ROI for investors in the months following the halving.
Pre-Halving Rally: Roughly 60 days before the halving, a rally typically ensues as investors buy into the hype, anticipating a sell-off post-event.
Pre-Halving Retrace: Around the time of the halving, the market often experiences a retrace. This was -38% in 2016 and -20% in 2020, leading to doubts about the halving’s bullish impact.
Re-Accumulation: Post-halving, a period of re-accumulation occurs, often marked by investor exit due to the slow pace of price movement and lack of immediate gains.
Parabolic Uptrend: Once Bitcoin exits the re-accumulation phase, it typically enters a parabolic uptrend, leading to accelerated growth and new all-time highs.

FAQs About The Next BTC Halving

What Is The Bitcoin Network?

The Bitcoin network is a decentralized digital ledger that records all Bitcoin transactions across a network of computers. It is powered by blockchain technology, which ensures security and transparency by allowing multiple copies of the data to be stored on nodes across the network.

When Is The Next BTC Halving Date?

The next BTC halving is estimated to occur on April 24, 2024, but the exact date may vary based on the network’s hashrate and block time.

Are There Websites For The Next BTC Halving Date?

Yes, there are several websites that provide countdowns to the next BTC halving, including NiceHash, Bitcoinsensus, CoinWarz, and Blockchair.

What Is The Bitcoin Halving?

The Bitcoin halving is an event that halves the rate at which new bitcoins are generated by miners. It occurs every 210,000 blocks, roughly every four years, as a part of Bitcoin’s deflationary monetary policy.

What Is The BTC Halving Countdown?

The BTC halving countdown is a timer that counts down to the next BTC halving event, indicating how much time is left until the block reward for miners is halved.

Why Are BTC Halvings Occurring Every 4 Years?

BTC halvings are scheduled to occur every 210,000 blocks, which roughly translates to every four years. This is designed to create a predictable and decreasing supply of new bitcoins, mimicking the extraction curve of a finite resource like gold.

What Will Happen After The Last BTC Halving?

After the last Bitcoin halving, no new bitcoins will be created, and miners will be compensated solely with transaction fees for their role in processing transactions and securing the Bitcoin network. This is expected to occur around the year 2140.

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