And the bitcoin price continues to rise in the run-up to the block halving is about a little less than two weeks. All of the losses for which bitcoin has suffered due to the corona virus, are now in the past.
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The support of the resistance
A couple of weeks hikte bitcoin at the $ 7000 on. Just hit it to teurg to go down to a height of 6800 dollars. That’s what happened a couple of times. The expectation was that, like bitcoin, it would advance to $ 8,000, the price is there, the resistance would be found. The resistance turned out to be a level of support.
Just as it seemed the bitcointrein to stop the rest of the afternoon, but in the course of the earth just by being. In the last 24 hours of bitcoin has increased by 12%, and even as the 9,000-dollar heels. It will be interesting to see how the Asian market reacts to this, as they are during the night (in the Netherlands at least) to wake up.
Above you can see that bitcoin is just the 9,000 dollar aantikte then again, what is the value to be lost. With so much momentum, it seems only a matter of time before it was 9,000 dollars, no weerstandslijn as a support.
That is, it is the goal of Nicolas Mertens, best known for his YouTube channel, DataDash. He was thinking only yesterday that it was 9,000 dollars is a good idea, it would have been before the halving. That is, in theory, of course, but secretly, it would be a drawback, as the bitcoin for the next few weeks, all of them but the side to side movement.
The short-term, in the direction of by 9,200 us dollars or 10,000 dollars
2/ $BTC and more for
I believe 8350 area, which may be the optimal short, give or take a 100 points in either direction.
A Break & close above 8350 (need to watch it to hold as support, then push to a new local high) and I’m bullish to the 9200.
Weekly chart shows these levels to be significant, IMO. pic.twitter.com/nnt10hnsDz
— Chase_NL (@Chase_NL) On April 29, 2020
The above tweet is from the Chase_NL seems to be that regard, almost prophetic. He or she also predicted that as bitcoin is the top 8.350 dollars, may continue to be, the way to by 9,200 dollars. If the prophecy really come true, then predict we will be a lot of your of Up to.
Another analyst believes the contrary, that by 9,200 bucks to be nothing more than a interval. If you are in line to follow, it is $ 10,000 in a couple of days too good to be feasible.
$BTC
HTF new update. The Blue will be crucial for me. PARTICULARLY lining up with our weekly, mid-range and clean it supply. If we manage to get above that, I’ll be looking for much higher targets. pic.twitter.com/f6Oe1UaFYb
— George (@George1Trader) On April 29, 2020
For the analysts, soothsayers, and marktmystici the price movements of bitcoin are trying to predict the result of the halving in for a lot of speculation. A simple analysis of the effect of supply and demand would suggest that the bitcoins after the halving valuable it will be. The so-called blokbeloning, the cash-out of approximately every 10 minutes, you will be left with a happy, random, bitcoinminers, less than the 12.5 bitcoins per block and 6.25 bitcoins. One half of the number of new bitcoins on the market means more resources. Or yes, the correct term for a reduced rate of inflation.
Less supply, same demand, price goes up, right?
The history of the bitcoinkoers supports this view. In the last two halvings were, on the 28th of november, 2012, and July 9, 2016, both of which were prior to the great rise in prices. A year after the first, which is half the price of the bitcoin, with more than 8,000 per cent increase to more than $ 1,000. A year after the second-half as the price went up by 280%, increased to more than $ 2,500. Please note that these are not straight lines, but this was accompanied by a significant movement up and down.
Continue to be cautious
But past performance is no guarantee of the future. “The fact is that there are two bullruns were, this does not mean that it will continue to happen,” says Sunayna Tuteja, director of digital assets at TD Ameritrade. The counter-argument you might know already, traders and investors will have to ensure that the next halving is already in the price included. The market has matured and it shows in the halving from a distance, coming in.
If you only get the increase in today’s look, it would seem that, in any case, it is not the case at all.
Just in time for the rain
We wrote earlier that the bitcoinminers are encouraged to visit the Chinese city of Yan to move out, because they are cheap, surplus energy to be able to use. As good luck can have miners make good use of, especially if their pay is cut in half. They had all moved on, they’re just in time for the start of the rainy season.
An excess amount of water flowing in the rain makes hydro-electric energy is cheaper, allowing for the expenses of the miners to be reduced, and possibly loss of earnings can be compensated for.
This fits in nicely with our request to meet with the bitcoingoden:
Make it rain, baby.