📕 Better than Yesterday with BSCS #30: Everything About Bitcoin Halving

Bitcoin Halving, a significant event in the cryptocurrency world, halves the rewards for miners every four years.

Scheduled in April 2024, this event reduces the rate of new Bitcoin issuance, aiming to maintain scarcity and potentially increase the token's value.

Here's what you need to know:
💠 Bitcoin's Scarcity
Through mining, new coins are introduced to the system every 10 minutes. However, with each halving event, the rate of issuance decreases by half.

In 2020, the reward dropped from 12.5 to 6.25 BTC, and in 2024, it will further decrease to 3.125 BTC.

💠 Historical Impact
Previous halving events in 2012, 2016, and 2020 triggered significant price increases in Bitcoin.

The reduction in supply coupled with sustained or increased demand tends to drive up the price of the token.

💠 How Halving Works
Halving occurs every 210,000 blocks. It's coded into Bitcoin's protocol, reducing the reward for miners.

As the supply dwindles, miners may rely more on transaction fees for revenue, potentially leading to increased fees for users.

💠 Predictions and Speculation
While the exact impact of each halving event can't be guaranteed, historical trends suggest bullish behavior in Bitcoin's price following halving cycles.

Increased discussions and market speculation typically precede and follow halving events.

💠 Future Outlook
Beyond 2024, additional halving events are scheduled until 2140 when all Bitcoin will have been mined.

With each halving, the reward decreases further, ultimately relying solely on transaction fees for miner revenue.

💠 Conclusion
In summary, Bitcoin Halving plays a crucial role in maintaining the token's scarcity and impacting its value.

As the next halving approaches, anticipation grows within the cryptocurrency community, with potential implications for investors, miners, and users alike.

📰 Read detailed article Here

⭐️ BSCS Official Media Channels:
Website | Telegram | Substack | Twitter | Discussion

🔊Weekly Market Highlights #91: March 25 - March 31

✨The last week of March 2024, BTC ended the month with a green candle for the 7th consecutive time. Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison. The US government and SEC continuously made more legal moves targeting crypto companies: accusing the Kucoin exchange of money laundering up to $9B and wanting to fine XRP an amount of $2B

✨Over the past week, the crypto market's total capitalization increased by ~$148B (from ~$2,545B to ~$2,693B).

✨BTC Maintains $70K
✅Monday and Tuesday, BTC went on a tear and shot up by over four grand. This meant it had returned to over $70K for the first time in a few weeks.

✅The bulls had another leg up on Wednesday, resulting in BTC soaring to a 15-day peak of just under $72K. Nevertheless, the bears stepped up and initiated a $3K retracement before BTC started recovering some ground as the net flows for the spot ETFs returned to positive.

✅Not much happened by the end of the week and during the weekend. BTC trades above the $70K mark, with its market cap closing the gap to $1.4T.

✨This Week’s Top Performers
✅The larger-cap alts have a few clear winners, with BCH and ICP standing out the most. With just days left to its second halving, BCH gained more than 30% on a weekly scale and soared to $600.

✅DOGE has also jumped by double digits on a weekly scale and now sits above $0.2, SOL has neared $200 after a 13% increase in the past seven days. ETH, BNB, SHIB, DOT, and LINK have gained less than 10%.

✅CORE has entered the top 100 altcoins following a massive 130% weekly, making it the best performer within this time frame. WIF follows suit with a 90% surge.

✅BSCS is trading at $0,01159: +12,15% from its 7-day all-time low of $0,01034.

✨Bitcoin Fear and Greed Index is 79 - Extreme Greed, higher than at the beginning of the week (75)

✨Dominance:
✅BTC: 51.9%
✅ETH: 16.1%

📣See you next week!

⭐️ BSCS Official Media Channels:
Website | Telegram | Substack | Twitter | Discussion

🔊Weekly Market Highlights #92: April 1 - April 7

✨Quarter 1/2024 ended with a new milestone for BTC: the highest quarterly and monthly candlestick close in history.

✨Over the past week, the crypto market total capitalization decreased by ~$110B (from ~$2,693B to ~$2,583B).

✨BTC Goes After $70K
✅Last weekend was also quite positive for BTC as the asset stood primarily around $70K and even challenged $71K on Sunday evening. However, the bears stepped up at this point and pushed BTC to the south hard.

✅This resulted in a price drop to $68,5K on Monday and an even more violent decline to under $66K on Tuesday. They kept the pressure piling, and BTC slipped to a ten-day low of under $64,5K on Wednesday.

✅At this point, the bulls finally awakened and initiated an impressive leg-up, which resulted in BTC briefly exceeding $69K. Another rejection followed, driving the cryptocurrency to $66K on Friday.

✅The weekend has been a lot more positive. BTC recovered some ground yesterday and stood at around $67,5K. Another jump came earlier today when BTC went as high as $70,2K amid increased whale activity, and now, at the time of writing, BTC trades at around $69K.

✨WIF, DOGE on a Roll
✅The two best performers among the larger-cap alts are DOGE and WIF. The OG meme coin has soared by almost 9% in a day and is now almost $0.2. Recall that numerous predictions have been made that DOGE will soar to $1 during this bull cycle.

✅WIF has skyrocketed by 12% in a day to $3.7. MNT follows suit with a 6% increase, pushing it to $1.4.

✅ETH, BNB, SOL, XRP, ADA, and TON have all added around 1-2% daily. More gains come from the likes of AVAX (4.4%), SHIB (3.5%), and UNI (3%).

✅BSCS is trading at $0,01094: +11,56% from its 7-day all-time low of $0,009802.

✨Bitcoin Fear and Greed Index is 76 - Extreme Greed, lower than at the beginning of the week (79)

✨Dominance:
✅BTC: 52.8%
✅ETH: 15.9%

📣See you next week!

⭐️ BSCS Official Media Channels:
Website | Telegram | Substack | Twitter | Discussion