Bittime -Crypto markets rose on Monday with bitcoin (BTC) nearing $67,000 as concerns about a further correction began to ease.
What happens during the Bitcoin Halving? How will the price of BTC develop in the future? With click on this link, you will find the answer.
Bitcoin Halving
Bitcoin recently experienced a halving, a quadrennial event that cuts the issuance of new supply in half, and is up more than 3% in the last 24 hours, currently hovering around $66,500. Ether (ETH) remained steady around $3,200, with a 1.5% gain over the same period.
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Positive Crypto Performance
Positive crypto performance includes 163 of the 173 cryptocurrencies in the CoinDesk Market Index (CMI) that posted daily gains. The CoinDesk 20 Index (CDI) rose more than 3% on the day, led by native token Near Protocol (NEAR) which jumped 15%.
Shares of companies focused on digital assets, such as crypto exchanges Coinbase (COIN) and MicroStrategy (MSTR), also rose 7% and 12%, respectively.
Publicly listed mining companies, such as Riot Platforms (RIOT) and Hut 8 (HUT), jumped 15%-20%, while Marathon Digital (MARA) rose 6% on the day.
This is due to a surge in transaction activity which increases transaction fees which are the main source of income for miners giving hope for better results for these companies.
How to Buy Crypto:
Interview With CoinDesk
Markus Thielen, founder of 10x Research, said in an interview with CoinDesk TV that the bitcoin halving "is not a bullish event" and warned of market weakness for the next few months, with the possibility of a deeper correction.
This was caused by miners releasing their $5 billion worth of BTC supplies to keep their operations stable after their revenues dwindled.
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Bitcoin Price Surge
In the long term, though, the previous three halvings were followed by a spike in bitcoin prices around 50-100 days after the event, according to QCP Capital's market report on Monday. "If the pattern repeats this time, bitcoin buyers still have several weeks to build larger long positions," the report said.
Cost Funding
QCP Capital also noted that the level of funding fees that leveraged derivatives traders must pay to keep their positions open has decreased from very high levels.
It's even going negative for some smaller cryptocurrencies, leaving them poised for potential rapid gains if risk appetite returns.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Too:
Mining Bitcoin vs Validating Bitcoin Transactions
Bitcoin Last 30 Days: Bitcoin Halving Impact
Bitcoin Futures and Bitcoin Options: Bitcoin Financial Contracts, What's the Difference?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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