Cryptocurrency news: Bitcoin was leaked, halving, who threw Durov, the Federal Reserve works for Trump

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    Новости криптовалют
    Cryptocurrency news

    As soon as bitcoin reached $ 10,000, it was immediately dropped by more than $ 1,000 in less than hour. It was a market punishment for a huge percentage of optimists who believed in the continuation of the uptrend and the start to a new maximum of the BTC price.

    Halving of bitcoin has already arrived. What will happen to miners immediately after halving the award and in the scope for the coming years? Is it worth worrying for BTC users and can this affect the price?

    Also today we will analyze what happens to the stock market , why it is growing, spit on all the negative news, and what does Donald Trump have to do with it. And also who crossed the road to Pavel Durov and launched the blockchain TON , without waiting for Telegram to solve its problems.

     

    Bitcoin

    Цена биткоина во время халвинга
    Bitcoin price during the halving

    On May 8, bitcoin fought for $ 10,000, but could not gain a foothold there. After this, the correction was quite expected, but after all, do not fall by more than $ 1,000 in just an hour, as it happened on the 10th.

    There were no factors for such a powerful drain, except for one. There was a high level of optimism on the market:

    Уровень оптимизма на период халвинга биткоина
    Optimism level for the bitcoin halving period

    The diagram shows that as the event approaches and the rise in the price of bitcoin increased, and the number of optimists who were waiting for the exchange rate of $ 10,000. But the result of the last such poll on May 5, and as you can see, the number of optimists at that time was 47%:

    [19459026 ]
    Optimism in the bitcoin market

    Is it any wonder that the exchange , “to you "and a universal evil decided not to miss this opportunity and take your profit? Only on BitMEX were liquidated positions for $ 300 million.

    I must say that we escaped with a slight fright, because everything could be much worse. In the meantime, on the daily chart, you can draw an uptrend line:

    Восходящий тренд на графике биткоина
    An uptrend on the bitcoin chart

    And let it indicate the possibility further bulls retreat to the price of $ 8,000, but this is still rising.

    Also on the weekly chart, although with a huge red doji candle, which is bad for the bulls, but still we closed above the 50-week moving average:

    Свеча доджи на графике биткоина
    Doji candle on the bitcoin chart

    Halving

    Халвинг биткоина
    Halving of bitcoin

    at the University of Cambridge prepared a world map of mining:

    Мировая карта майнига
    World map of mining

    We clearly learned that Russia and Kazakhstan They occupy the third and fourth place in bitcoin mining. Therefore, look at your neighbors, it is quite possible one of them is a miner.

    And Iran also came in sixth with almost 4% of the global hashrate. The authorities there do not really like cryptocurrency , but mining are encouraged and even officially regulated. That is, they sell cheap electricity to those miners who are ready to share their income with the state, and as you can see, this approach has brought the country to the TOP.

    I want to note that while there is an opportunity, miners are trying to squeeze the most out of the situation, so on the eve of halving, the bitcoin hash rate went up again. On May 3, Glassnode recorded a new record of 140 EH / s:

    And the current network rate is close to this maximum value.

    And since the price of bitcoin did not please us twice as much, we should expect a repeat of the script with the hashrate Litecoin 2019, as well as Bitcoin Cash and Bitcoin SV already this year . That is, a reduction in network capacity from 50% to 70%.

    This will in no way affect the security of the blockchain , as bitcoin guru Andreas Antonopoulos correctly noted, a year ago the hashrate was 2 times smaller and everything worked perfectly. But certain time delays with transaction confirmation, until the network complexity adapts to the new operating conditions, most likely will be.

    As for the price, the hashrate does not affect it in any way, provided that the security of the blockchain is ensured. Therefore, if the course and try to push down, then this will be pure manipulation.

    Regarding the future of Bitcoin mining, according to the study of the leading mining pool Poolin, devices with 16 nm and 10 nm chips will gradually leave the market. Those who managed to switch to ASIC with 7 nm chips in advance will benefit, as the industry expects 5 nm chips and plans to work on them for the next four years. But then we’ll have to take it not with quality, but with quantity, because the technology of ASIC miners rests against the wall, and a serious scientific breakthrough is required to reach a new level.

    It can be assumed that the bitcoin hash will not collapse as much as it was with altcoins . After all, firstly, miners have nowhere else to go beyond Bitcoin, it was possible to escape from Bitcoin Cash. Secondly, new cheap electricity is now appearing in the world, which is associated with a drop in demand from industry caused by the current financial crisis.

    The power of the Fed

    Печать новых долларов
    Printing new dollars

    World's best investor Warren Buffett sells airline stocks and reports losses $ 49 billion and complains that his crammed $ 130 billion cash every day depreciates more and more.

    Meanwhile, the price of Brent crude is wandering around $ 30 per barrel. And this despite the fact that on May 1 a record agreement of oil producing countries came into force to reduce production volumes. And the number of working oil and gas wells in the world decreased to the level of the summer of 2016. But the price does not explode because growth is worth the industry, there is no demand, and oil in storage continues to squish over the edge.

    In addition, the United States recorded the highest unemployment since the Great Depression. Now it exceeds 14% - during the 2008 crisis this figure was only 10%. In the rest of the world, things are no better; the European Commission expects the deepest recession in Europe. And recall that back in mid-April, the International Monetary Fund predicted a global global recession.

    You understood the essence of the situation, the fight against coronavirus turned out to be a huge loss for the global economy, and how do stock market investors behave at this time? Over the past week, the S&P 500 added another 5%, and after falling in March, the stock market grew by 33%:

    Движение индекса S&P
    S&P index movement

    [19459007 ]

    It can already be said that the current situation will go into the textbooks on economics and will become a clear confirmation of the power of the Federal Reserve, which is capable of performing real miracles. Or not ...

    Because optimists can arbitrarily believe that tomorrow they will quarantine and everything will be as before. But the economy has already stopped, there is no demand and it will not recover, because people have switched to austerity.

    And if you look at the chart again, the price is slightly below the 50-week moving average:

    Движение индекса S&P
    S&P index movement

    [19459007 ]

    And we already told it earlier. The real crisis in 2000 and 2008 began after the S&P 500 index fell below the yellow line, after which it grew to blue and then the real ass came.

    Now, we are just approaching a denouement that they can try to delay until the fall so that Donald Trump can win the presidential election again. On the other hand, his political opponents will try to prevent this.

    Free TON

    Запуск Free TON
    Launch of Free TON

    Telegram first wanted to throw all American investors out of the deal. Forcibly they will return 72% of the invested funds. They probably think that this will help to negotiate with the US SEC.

    And all other investors must first prove that they are not Americans. Then their funds will be reissued as a loan at 52% per annum. The participants in the ICO Telegram themselves are not enthusiastic about such actions of the project team and are wondering if there is any trick here. Because after the cancellation of the two deadlines, even the reputation of Pavel Durov will begin to be questioned.

    And whoever doesn’t believe in Pavel at all or if they were pressed by creditors against the wall, this is the so-called community that launched the Free TON blockchain based on the development of the Telegram team.

    Cryptocurrency News
     

    It can be assumed that the idea came from TON Labs, which actively hyped on Durov's blockchain project and even developed an operating system for TON. But it turned out that they sawed the interface for a long time for a platform that never started. So they decided to implement their work at least somewhere, in the hope that after they print their tokens and launch them on exchanges, it will be possible to collect at least some money from this.

    As you can see, we are extremely skeptical about this project and that’s why. The idea of the Gram cryptocurrency rested on its integration with the Telegram messenger. In addition, it meant a whole set of additional services that turned your favorite messenger into some kind of alternative Internet.

    And instead of all this, we are offered the issue of some new token , which can be chased from wallet to wallet. Well, why then do you need it, except to pick up on the remnants of the project’s popularity and try to make money on it?

    You can follow the latest news about cryptocurrencies in our section: cryptocurrency news .

    Read also:

    Bitcoin grew by 140%: what next

    Loss of $ 49 billion : Buffett’s strategy no longer works

    Prospects for the DeFi market in 2020

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