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Showing posts from May, 2020

CRYPTOCURRENCY SLANG EXPLAINED IN DETAILS!...

If you are new to crypto here are  cryptocurrency abbreviations and words, phrases and slang broken down into easy-to-understand definitions.  ADDRESS - A secure identifier marked by a unique string of characters that enables payments to an individual or entity via blockchain transactions. It usually requires a private key to exclusively access the funds. For example, Bitcoin addresses are alphanumeric strings that begin with a 1 or 3; Ethereum addresses begin with '0x' . ALTCOIN - A cryptocurrency or a category of cryptocurrencies that are an alternative to bitcoin. Many altcoins project themselves are better alternatives to bitcoin in various ways like more efficient, less expensive, etc. BEAR/BEARISH - Term used to denote that the market is going down. BULL/BULLISH - Term used to denote that the market is heading up. BEAR TRAP – This is a manipulation of a stock or commodity by investors. Traders who “set” the bear trap do so by selling stock un

Bitcoin Remains Bullish Three Days After The most Anticipated Bitcoin Halving 2020

Since the inception of the bitcoin network,the community and space experiences an event where bitcoin supply and miners reward is cut in half.which is known as bitcoin halving and this happens every four years. The third halving which took place almost 3 days ago on 11/5/2020 at  3:21 p.m EST  at 8:20pm Nigerian time. This event was highly anticipated with uncertainties that price could surge high or dip. But after the third day the price rallied around $8k .and now trades at $9,666.69 as the time of writing this article. Will The Price Increase Above $20k? From the 20212 bitcoin halving history we have witnessed massive bull-run  almost one year after every bitcoin halving.  After the 2012  halving , the  price  of  BTC /USD rose briefly from $11 to $12 before catapulting to  $1,038 in just one year. That's a 9,336.36%   increase  in  price. Then, 210,000 blocks. Then the second halving took place in  2016 , the  bitcoin price  soared from under $1,000

Bitcon Halving 2020 In Few Days

The last couple of days has seen bitcoin price set new higher highs and lower highs, which has raised hopes for folks in the space, while they all expect surprises in anticipation of the bitcoin halving set to take place  18th May  2020 , when the number of blocks hits 630,000. It will see the block reward fall from 12.5 to 6.25  bitcoins .  cutting down the block reward 50% for miners. causing a couple of miners to loose out in the game. What would the halving mean for miners? After every 210,000 blocks,  Bitcoin  goes through a process called “ halving .” This mechanism was integrated into the protocol by Satoshi Nakamoto himself the creator.  After a protocol goes through “ halving ,” it cuts the supply of new  Bitcoins  in half,  halving  the  miner's  block production rewards, as well. Will Halving affect or increase the price? Some people expect the coin  price  to magically  increase  before or after the  halving . Even if there would be some  price increase