Two months before the Halving, Bitcoin is recuperating its power as its value starts to increase .
Bitcoin had a turbulent month with Coronavirus pandemic and strategically targeting market behavior that pushed the BTC price down to 4045 EUR. Now, 60 days before the expected halving event, Bitcoin value is showing clear signs of recovery.
In this article, we make a follow up to our article As Bitcoin drops, here is what you should know, published on March 9. At the beginning of March, we assessed the Bitcoin price movement in the context of the Bitcoin Halving event.
At Paynura, we will track the Bitcoin price movement as the Halving approaches and provide regular updates. Affiliates across gaming and trading invest in cryptocurrencies or receive commission payments to their Bitcoin wallet.
It's essential to understand the BTC movements, even if you have a micro Bitcoin investment in your Skrill or Neteller ewallet.
The price drop of more than 50 percent during the last month (from 9167 EUR to 4045 EUR) was caused by the combination of the global health crisis and a hard selloff by whales that strategically dumped the Bitcoin price to a shocking 10-month low.
Image: Bitpanda
"The implication is that whales – individuals, or entities, that hold large amounts of digital currencies – started moving coins from wallets to exchanges at least four days in advance of the dump," according to Coindesk. "The increased inflow of BTC into exchanges was a sign the big sellers were getting ready to offload their holdings, which usually translates into big price slide."
Observing the whale movements is crucial for price predictions. "Keeping a close eye on inflows into exchanges can help leveraged traders avoid getting trapped on the wrong side of the market," advises Omkar Godbal at Coindesk.
As the global health crisis hits all corners of the world, small investors will be reluctant to invest in crypto. The market, more than ever, will be dominated by whales and institutions, which have the ability to invest now and profit within a year.
| Price 90 days prior halving | Price 60 days prior halving | Price on the halving day | Price after 150 days | Price after 1 year |
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If we take a look at the price of Bitcoin two months before the halving, we can see the beginning of a positive trajectory. On March 19, the BTC was at 5970 EUR, which we can take as the take-off point for the rise towards the Halving on May 18, 2020.
Halving is Bitcoins regular protocol executed every four years or, to be more precise, after every 210,000 blocks have been mined.
Bitcoin's supply cannot exceed more than 21 million coins. Since its creation, miners created approximately 17 million Bitcoins.
"Nearly every ten minutes, when miners process a new block, 12.5 new bitcoins are minted. May 2020, in an event called the "Halving," new bitcoin issuance will drop to 6.25 new bitcoins minted every ten minutes," as explained by Coinbase.
After the first and second halving Bitcoin's value increased substantially, making it a lucrative digital asset independent from financial institutions.
Affiliates, either from poker, forex, gaming, casino, support their clients with advice and different support option. At this particular moment, when individuals are insecure about their future and are reluctant to invest, exchanging fiat into crypto might be a reasonable move.
Affiliate can support their clients with advice on how to handle the crisis. First, all sports events are canceled; therefore, sports betting is currently stagnating. The global health crisis stopped the economy, making people unable to invest, as they have to secure their livelihoods.
With Skrill and Neteller, affiliate's clients can create a crypto account within the ewallet, which can serve as a gaming or gambling bankroll. As the value of crypto increases, clients can use those funds for poker, casino, betting on sports without compromising their household budget.
Paynura sets a new standard in ewallet affiliate programs with a transparent and reliable tracking system. Start today.
