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Bitcoin price discussion and analysis

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Oh yeah, crypto never sleeps really and the Bitcoin market buzzes all week long even when Wall Street's snoozing

getting a heads-up from your MACD alert over the weekend is totally normal as those digital coins are like that one friend who's always up for a late-night chat lol
Bailxtrader said:
A bit of a trick question for those who trade Bitcoin. Got an alert on MACD Divergence chart, that Bitcoin in crossing down at present. I was surprised about this, because I considered Crypto Currency and Forex only traded Monday to Friday . I'm talking BTC/USD and was wondering as it appears but anyway does BTC trade 7 day a week?
Click to expand...
 
cointelegraph.com

Why is Bitcoin price down today?

Bitcoin price is down today as profit taking and a reduction in speculative leverage use drops the pace of the BTC rally.
cointelegraph.com cointelegraph.com

When BTC longs are liquidated without buying pressure from traders, Bitcoin price is negatively affected. Bitcoin trading volumes dropped over $30 billion from the March 5 year-to-date peak of $45 billion in daily activity.
 
noirua said:
Click to expand...

I listened to the full 3 hours yesterday while doing some house work.

basically Peter is right the other guy is wrong.

its actually a good discussion, I had written Peter Schiff off as a gold bug years ago, so this is the first time I had listened to him in about 10 years, he is a bit more rational than he was back then.

I basically agree that gold can be used as a form of saving, while other assets like equites and property are investments, and Bitcoin is Trash.

the hosts fear about the future and him wanting to retreat to Bitcoin is crazy in my opinion. All of the participants over think the idea of the currency being destroyed by inflation.
 
After the 2020 halving, bitcoin's price moved upwards from around $8,000 in May 2020 to a new all-time high of over $69,000 in April 2021. These trends suggest that historically, the price of Bitcoin increases within a year after the halving, but is then followed by a price adjustment period. April 9, 2024
www.chainalysis.com

What You Need to Know About the Bitcoin Halving - Chainalysis

The fourth Bitcoin halving is projected to occur mid-April. What could the halving mean for crypto markets?
www.chainalysis.com www.chainalysis.com
Given that halving events occur every 210,000 blocks and considering the ten-minute average time to mine a single block, future halvings can be predicted with reasonable accuracy. Slight deviations in the actual timing of halvings are possible due to the variable time it takes to mine blocks.
 
cointelegraph.com

Bitcoin mining revenue hits post-halving yearly low

Bitcoin mining revenue dropped significantly in May 2024, following the effects of the fourth Bitcoin halving event.
cointelegraph.com cointelegraph.com
CryptoQuant CEO Ki Young Ju calculated that Bitcoin needs to hold above $80,000 to keep mining profitable post-halving under current conditions. However, most miners took proactive measures to upgrade their mining equipment to reduce long-term operational costs while being competitive.
 

2023–2024​

By September 2023, two years after the Bitcoin law went into effect, the El País newspaper reported that bitcoin adoption could not be called either a success or a failure, but should be understood as having outcomes of both. "When introducing the currency to the population, the idea was that it be used in all types of transactions: from buying street food to a property."[71] But the hacking of hundreds of Chivo wallets had perhaps scared many, and only 1.3% of El Salvadoran remittances during 2023 had been transferred using cryptocurrencies, while even in Mexico, the amount was larger at 4%. And partially due to the longer history of US dollar legal tender in El Salvador, which provides some protection of purchasing power from inflation and devaluations, bitcoin adoption in Argentina likely surpasses that of El Salvador. The volatile bitcoin price resulted in El Salvador's bitcoin investments having lost approximately US$45 million with a bitcoin balance worth about US$76.5 million by September 2023. Mass adoption has been slowed by the absence of a coherent educational process across the country. On the other hand, it has resulted in significantly higher in-migration of businesses and capital to El Salvador, and has put the country, and Bukele, in headlines.[71]

By December 2023, it was reported that the bitcoin purchased by Bukele's administration had risen in value, and were worth US$3.7 million more than they had been purchased for. However, the Bukele administration had not yet recouped the expense of the adoption and promotion of cryptocurrency.[72]

As of March 2024, El Salvador's bitcoin gambit stood at a 50% profit, with bitcoin having recorded a new all-time high of over $69,000.[73]
en.wikipedia.org

Bitcoin in El Salvador - Wikipedia

en.wikipedia.org en.wikipedia.org
 
1715333723627.png

Legal tender - Orange

Permissive (it's legal to use bitcoin) - Green

Contentious (some restrictions on legal usage of bitcoin) - Yellow

Contentious (interpretation of old laws, but bitcoin isn't prohibited directly) - Mauve

Hostile (full or partial prohibition) - Red

No information. - Grey
 
Bitmain Antminer S21 Hyd (335Th)
The Bitmain Antminer S21 Hyd 335T is one of the latest machines from the popular mining manufacturer, released in February 2024. The machine supports the SHA-256 Bitcoin algorithm, with a hash rate of 335Th/s, and a hydrocooling feature. Given the profitability of the machine, it comes in as relatively inexpensive, at $4,200+.

Bitmain Antminer S21 Hyd 355T key features
Https://koinly.io/blog/best-crypto-mining-hardware/​
 

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