Over the past five years,we know bitcoin has plummeted more than 40% on four separate occasions.In 2024,We see this grand occasion again. And also,Ethereum Maybe Could Top $14,000 Next Year Alongside Bitcoin Boom(Standard Chartered) So what's driving the bitcoin surge? The halving occurs every four years, cutting the reward for mining new blocks in half. The next halving will reduce rewards from 6.25 to 3.125 BTC. Historical Price Impacts: 2012 Halving: Bitcoin's price surged approximately 9308% in 13 months. 2016 Halving: Saw a 2861% increase over 17 months. 2020 Halving: Resulted in a 620% increase in 11 months. Based on some napkin math the BTC can reach a 162% price increase post-halving, with the peak expected around 420 days (14...
2013-14 bull market featured alt coins and gpu mining. 2017-2018 featured ETH, ICO's and to some degree forking. 2020-2022 was NFT's and ETH layer 2's or alternative chains. Where do we go next? Maybe as I said before,Bitcoin is the Lord of the Rings. When I started with crypto in 2013 I was taking a small gamble as I was (relatively) young and in good health. I was single, living paycheck to paycheck and managed to scrap together money to acquire some mining rigs. I've never exited since. The mining rigs turned inefficient and were shut down around 2019. Currently I'm an old man with a considerable amount of my individual wealth still invested. 90% of the tasks I've...
What if all the gold in a certain country disappears overnight? This is an assumption that is difficult to implement in the real world. 1. Let’s first look at what gold is? Gold was once currency, it was once the "collateral" (gold reserves) for banks to issue banknotes, and it was once the reference for determining currency exchange rates around the world (Bretton Woods system). However, since the United States became overwhelmed and discovered that gold was rapidly flowing to benefiting European countries, it announced the dissolution of the Bretton Woods system and replaced it with the Jamaica Agreement. This agreement clearly stated that the U.S. dollar would no longer have an exchange relationship with gold, and gold would no...
ETH is probably the most liquid aside from BTC, so naturally its volatility is much lower than altcoins. It will certainly catch up. BTC is up a significant amount via the ETF narrative and also kind of acts as a proxy for crypto as a whole since it gets the most exposure. Since September 1st, BTC is up 40%, SOL is up 100%, LINK is up 150%, MATIC is up 46%, ADA is up 40%, DOT is up 30%. AVAX is up 31%. And ETH… ETH is up 16%. These are all large-cap tokens too. Even DOGE is up higher than ETH (19%). ETH dominance is dropping to its lowest level since the 2022 summer crash, both against BTC and...
