With Bitcoin (BTC-USD) set to go through its fourth halving | M I R A C L E on Binance Square

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With Bitcoin (BTC-USD) set to go through its fourth halving in history, an anticipation that has sent the coin to new all-time high prices, it is likely that other cryptos. Acting as a sort of S&P 500 index for the asset class, if Bitcoin rallies, other overlooked altcoins to buy will likely show similar price action.06-Mar-2024

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Trump and Bitcoin: Could a Major Announcement Be Coming? $BTC The Bitcoin 2024 Conference in Nashville is approaching, and rumors are flying. Could former US President Donald Trump be about to make a game-changing announcement? Some believe he might declare Bitcoin a strategic reserve asset for the United States. He claims Trump’s upcoming speech will confirm that Bitcoin $BTC will be part of the US Treasury’s reserves. “This is no joke. My sources are credible,” says Porter. Imagine the US holding Bitcoin in its reserves! The very idea is electrifying the crypto community. Trump has recently announced Senator JD Vance, a known crypto supporter, as his vice-presidential candidate for the 2024 election. The pieces of this puzzle are coming together, creating a fascinating picture.

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A First Happens in Bitcoin (BTC) After Seven Months: Red Alert for Altcoins! Bitcoin, the leading cryptocurrency, has closed every month in green, that is, with an increase, since last August. However, BTC appears to be on track to end its seven-month winning streak, which started in September. Because Bitcoin is preparing to close April in red after 7 months. While many analysts have made different assessments on this issue, the reason why Bitcoin closed April with a decline is a number of factors such as the reduced likelihood of the FED to cut interest rates in 2024, the decrease in demand for US-based spot Bitcoin ETFs and broad-based risk aversion in financial markets. He thinks it is effective. While analysts generally expect further declines in the BTC price, Fairlead Strategies analysts are bullish for BTC. According to Coindesk, Fairlead Strategies analysts said that the Bitcoin dominance rate has risen above a critical level, which is a signal for further rise. Stating that Bitcoin's dominance rate increased to 57%, the highest level in three years, and exceeded the six-month consolidation model, Fairlead Strategies analysts said that this rise means that Bitcoin will outperform altcoins in the coming months and may continue to overshadow altcoins. $BTC

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Shiba Inu Update: Over 700M Token Burn! SHIB Eyes a Price Surge to $0.00004 Shiba Inu is a leading dog-themed meme cryptocurrency that has captured the attention of crypto traders and investors across the cryptocurrency market on April 20 due to an impressive increase in its weekly token burn rate. This notable spike in token burning occurred as the broader cryptocurrency market began to recover following a halving event, significantly impacting the meme coin’s dynamics. The surge in Shiba Inu’s weekly burn rate contributed to a positive sentiment among market participants. In the last 24 hours, SHIB surged nearly 3%, creating bullish waves in the cryptocurrency market. Moreover, investors are now keenly watching the token’s future price movements. However, this is an in-depth analysis of the crucial market dynamics for the world’s second-largest meme cryptocurrency, focusing on its key cryptographic metrics.

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BTC Miners are Staring at Losses Worth $5 Billion The fourth Bitcoin halving event is scheduled for April 20, during which the mining rewards will be cut from 6.25 to 3.125 BTC. Additionally, the miners could potentially liquidate $5 Billion worth of BTC after the halving. On April 13, research was carried out by the head of research at 10x Research, Markus Thielen, on Bitcoin halving and its implications on miners’ profits. The event could result in a multi-dollar drop in revenue. “The overhang from this selling could last four to six months, explaining why Bitcoin might go sideways for the next few months — as it has done following past halvings,” said Thielen. The price of Bitcoin remained between $9,000 and $11,500 in the five months after the 2020 halving, and the market will not indicate any significant spike until October if history repeats itself. Furthermore, the daily rewards for the miners will decline from 900 to 450 BTC, and the reduction in the rewards could result in a loss of approximately $5 Billion annually for the whole mining industry. Thielen also emphasized the altcoins and predicted that the halving event would also affect the altcoin’s performance. Many of the altcoins have fallen back heavily in the past few weeks, whereas many remain a long way from reaching their peak in 2021. Such situations raise concerns and risks for the crypto industry, encouraging companies like CleanSpark Inc. and Marathon Digital Holdings Inc. to invest in new mining equipment as well as acquire small competitors. These efforts will help the companies compensate for the expected decline in revenue. Marathon, the world’s largest Bitcoin miner, generates 28-30 BTC per day and shifts to generation of 14-15 BTC per day following the Bitcoin halving event. Last week, Marathon’s CEO Peter Thiel stated that the company’s break-even rate is anticipated to be over $46,000 per BTC to remain profitable after the halving event.

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