Bitcoin Mining Pool ViaBTC Sells ‘Epic’ First Post-Halving Sat for $2.13M
The pool mined the first block after last week’s halving, winning an “epic” sat in the process.
Binary trading platforms with better performance and payouts
Bitcoin Halving
The pool mined the first block after last week’s halving, winning an “epic” sat in the process.
BTC chart (CoinDesk data)
Soccer has the World Cup. Athletics and many other sports have the Olympics. Crypto has the halving. The milestone in the blockchain’s 15-year history technically means a cut in rewards for crypto miners with each block – a feature designed to minimize inflation.
Large bitcoin investors substantially increased their holdings as prices dipped below $60,000 in early Friday’s panicky action on the crypto markets ahead of the asset’s much-anticipated halving event.
These influences include rising geopolitical tensions, higher interest rates for longer, reflation and ballooning national debts, the report said.
Bitcoin’s rally in the past six months will help cushion crypto miners from the effects of the 50% cut in their earned rewards, the report said.
Institutions launching Bitcoin ETFs this year have buoyed the bitcoin price to record levels. Does that mean the impact of the halving — the four-year slashing of the bitcoin reward — will be relatively muted this time, as any pontential bump is “priced in”?
What does Bitcoin’s fourth halving mean, and why does it matter?
Crypto prices are likely to stay high in anticipation of spot ether ETF approvals, central bank rate cuts, and regulatory changes, the report said.
The bank’s analysis of open interest in bitcoin futures shows that the cryptocurrency is still considered overbought.