A month of the arrival of the expected Halving of Bitcoin, it has generated a renewed interest in the commercial interaction of the cryptocurrencies. Also, Bitcoin has increased steadily to almost break the resistance level at around US$ 10,000. Do you get it? What happens in the Bitcoin market this Thursday?
The market of Bitcoin post Halving: less supply available
As many of you know, the Halving consisted in a change sequential and programmed way in which to create new Bitcoins. This change originates from the reduction is controlled in 50% of the amount of Bitcoins that will be obtained on the part of all miners around the world at the time in which it is made a new block. That is to say, the miners will earn less BTC for each new block generated.
This event does not occur constantly, but the creator of the virtual currency, Satoshi Nakamoto, designed to serve every 210,000 coins generated. This emerged based on a financial idea that had from the outset raised: to achieve that the Bitcoin is not only release of the trend inflation and devaluation of the currency, but also, with this little control, steadily increased its value with respect to the money trust.
Thanks to the balance generated by the increased difficulty that each day the creation of more BTC, the community of investors and traders are constantly waiting for new trends to the upside. Then, with that seek to generate earnings by using techniques such as the “holding” of the criptomoneda, and the sales of your Bitcoins in the best peak climb.
The computing power given by all the machines at the global level that operate to contribute to the platform of the cryptocurrencies has also changed. Now the miners need to be more efficient and able to cover the costs. Those users, provided that it gives rise to a new Halving, will receive half of the rewards for each block created in comparison to the previous time.
Already if this is a factor that we want it to or not, has and will have effects graded on the performance of Bitcoin.
Market side present in these moments
To enter into context briefly, a market side is in a particular state within a specific market where the fluctuations are stuck partially. That is to say, specifically, these do not present any marked trend upward or downward, but remains in a constant lateral movement, speaking from a graphical point of view. All of this happens without result in the appearance of clear changes of direction, either up or down.
Now, with reference to the fluctuating price of Bitcoin, we can appreciate in the graph given by the team of CoinDesk, the way it has manifested itself in a slight change in the trend.
Based on the observation of the balance of the peaks generated by the interaction of buyers and sellers, we will see a market side that is in full development.
Graph of the price of Bitcoin from the last week
Also, you can denote a large drop that has occurred recently, but this is not a determinative that tells us that the market is taking on a bearish trend. At any time, within a market side, these peaks can easily return to the last heading and return to the drift-balanced and constant.
With this, in addition, appear the risks, because when you try to invest funds during this event do not guarantee the return of any gain.
The expectations about the monetary policy of countries like the united States
Finally, now that the Federal Reserve of the USA. UU. talk of a possible V-shaped recovery, it is not clear whether Bitcoin will become a reserve asset of value or will start to follow the course of actions.
The latter is relevant if we consider that after the Halving is a correlation between Bitcoin and the actions you can begin to strengthen. Especially as there is a greater relative participation of institutions in the market of BTC and the cryptocurrencies. This seems to make the cryptocurrencies, ironically, are more sensitive to global factors.