April 18 is the approximate date for the Bitcoin halving to occur. With this day approaching, investors are speculating about the price that the main cryptocurrency on the market could reach.

The halving is a known phenomenon, which occurs every four years, when it reaches 210,000 blocks and “the reward that miners receive for verifying transactions in the Bitcoin network is reduced by half.”

A few days before it happens, the debate is intensifying and investors’ expectations are deepening, given that in the processes of 2012, 2016 and 2020 the digital currency experienced notable growth in the subsequent months.

In any case, there is no obligatory correlation between the halving and the value of Bitcoin. Furthermore, the cryptocurrency started in 2024 with ups and downs. In January the price was $44,168; on March 14 it stood at 73,737 and current price of the virtual asset is USD 70,500.

Analysts are clear that the halving will have an impact on the price, although they do not know what it will be. Some are inclined towards a considerable increase, “others are more cautious and foresee a moderate impact or even a neutral scenario”, taking into account factors such as market volatility or global economic uncertainty.

M.Pino

Source: beincrypto

(Reference image source: Jakub Żerdzicki in Unsplash)

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La entrada Upcoming Bitcoin halving fuels speculation about its value apareció primero en Bitfinance.

Artificial intelligence is present in the crypto market. When asked about the price of Bitcoin for the end of 2024, he gave three possible scenarios.

Taking into account the characteristics of the current scenario, such as “the evolution of regulation, institutional adoption of Bitcoin, spot Bitcoin ETFs and other factors”, the AI ​​gave 3 trends for the end of 2024.

A first conservative position states that “the least optimistic, the Bitcoin bears, such as JPMorgan analysts” would predict a BTC price of USD 38,000 by the end of the year. Factors that influence this prediction include macroeconomic conditions such as inflation and interest rates.

The second Bitcoin price prediction given by the AI ​​is also conservative. It maintains the value of the main cryptocurrency in a range of 50,000 and 70,000 dollars, in a market characterized by ups and downs.

The third prediction is more optimistic and places Bitcoin above $100,000 at the end of December and even exceeding $120,000. The projection is supported by the confidence generated by the next Bitcoin halving in April.

However, the AI has warns that the price of Bitcoin is truly unpredictable. It is affected by “unexpected factors, such as regulatory changes or economic crises, can significantly affect the market.”

M.Pino

Source: cripto247

(Reference image source: Daniel Dan on Unsplash)

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La entrada Artificial intelligence predicts Bitcoin price by the end of 2024 apareció primero en Bitfinance.

The pioneering cryptocurrency, Bitcoin, experienced an impressive 3.79 % increase in the last 24 hours, taking it to $58,504. This price marks a significant milestone for Bitcoin, which had not reached this level for more than two years.

According to data provided by CoinMarketCap, the digital asset also posted strong performance over the broader time frames. On the weekly chart, the cryptocurrency rose more than 13.5 %, while on the monthly chart, it has experienced an impressive increase of 38 %.

This rise in the price of Bitcoin came right after the announcement that MicroStrategy, the company led by Michael Saylor, acquired an additional 3,000 BTC for a total of 155 million.

These purchases were made at an average price of 51,813 between 15 and 25 February. With a total of 193,000 BTC acquired over time, MicroStrategy has become the largest Bitcoin holder among publicly listed companies.

Founder of ARK36 digital asset investment fund, Mikkel Morch, attributes this rally to strong institutional backing.

“This rally is not just numbers on a chart; it’s a statement of confidence among institutional investors in the transformative potential of cryptocurrencies… In addition, the green light for Bitcoin ETFs has injected a new wave of optimism, boosting trading volumes and putting the spotlight on cryptocurrency-linked companies amidst a wider market full of apprehension.”

The total capitalization of the cryptocurrency market has also experienced an increase of 2.85 % in the last 24 hours, reaching USD 2.19 trillion. On February 27, the industry managed to recapture the market capitalization of USD 2 trillion, driven by a combination of inflows of ETFs from Bitcoin and an improvement in investor sentiment toward cryptocurrencies.

K. Tovar

Source: Cointelegraph

(Reference image source: Kanchanara, Unsplash)

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La entrada Bitcoin is approaching $60,000 apareció primero en Bitfinance.

According to the data collected, the rise in the value of Bitcoin occurred in the afternoon hours of February 7, reaching a high of $ 44,332 per unit before falling back slightly and stabilizing around $ 44,216 at the time of publication.

With this increase, Bitcoin has risen by 2.42 % compared to the prices recorded at the same time of the previous day. In addition, the daily trading volume on the major exchanges has experienced a significant increase of 22 %, surpassing $20.660 billion in buy and sell transactions during the last 24 hours.

According to a report by CoinDesk, this increase in the price of Bitcoin coincides with the accumulation of the cryptocurrency by large investors, known as whales, and is backed by the strong performance of stock indices in the US markets.

There is also a possible reduction in the number of new bitcoins entering the exchanges, which suggests a lower interest in selling on the part of the miners who support this leading digital currency.

K. Tovar

Source: Diariobitcoin

(Reference image source: Kanchanara, Unsplash)

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La entrada Bitcoin surpassed the $ 44,000 barrier apareció primero en Bitfinance.

Over the course of last year, ethereum, the second most prominent cryptocurrency in the crypto ecosystem, registered an impressive 90% increase in its price. It closed the year 2023 reaching $2.443 per unit, compared to $1.912 at the beginning of the year.

Data collected by Cryptorank highlights that this 90.8% increase over 2023 represents a significant evolution. Despite facing a 9.97% decline at the end of the last quarter of 2022, Ethereum reversed its course in the first months of 2023, achieving an increase of 52.4%. In addition, the second quarter closed with an increase of 6.12%.

During the second quarter of last year, an upgrade was implemented on the Ethereum network that allowed stakers to freely withdraw tokens used in the Proof Of Stake process. Although initially there was speculation about a possible negative impact on the price due to the oversupply of tokens, the reality was different. Ethereum accumulated an increase of close to 60% in the first half of the year.

However, the third quarter of 2023 presented a change of scenery with a decline of 13.5% in the value of the native token of the Ethereum network. Despite this setback, Ethereum managed to recover in the last quarter with a rebound of 36.5%.

Entering the year 2024, the crypto market has experienced slight fluctuations, marking a decline of close to 2% in the first days of January compared to the final price of the previous year.

As for future prospects, it has been announced that the test phase of the Dencun update will be launched this January. According to the revealed dates, the test phase on the Goerli network is expected to start on 17 January, followed by further tests on the Sepolia and Holesky networks. This development could have significant implications for the future course of Ethereum in the crypto ecosystem.

K. Tovar

Source: Cointelegraph

(Reference image: Unsplash+)

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La entrada Ethereum grew 90% over the last year apareció primero en Bitfinance.

Cryptocurrency-based financial services company BlockFi, which has filed for bankruptcy before US authorities, has been cleared by the bankruptcy court to sell its crypto mining equipment and other physical assets in order to raise around $5 million dollars.

The assets will be sold at an auction in which there was a lot of interest for the physical equipment. Part of the assets will be acquired by an entity called US Farms.

It should be noted that the firm received authorization at the end of January to organize the auction. At the time, BlockFi’s lawyer claimed that they were interested in doing so as soon as possible, to take advantage of the current interest among mining companies and services to get hold of their high-end equipment.

Although the estimated price of the devices in his possession was around $160 million, the associated value has dropped dramatically over the last year due to many of these being ASIC machines. It is important to mention that the US managed a rather incisive policy on cryptomining activities, promoting the use of renewable energies and trying to mitigate the carbon footprint they generate.

BlockFi continues with its bankruptcy process to gather sufficient assets and honor commitments made to creditors and users who were affected by the insolvency it went through in 2022. In January of this year, the court granted permission to BlockFi to use part of its capital and make more competitive salary proposals to its workers.

K. Tovar

Source: Diariobitcoin

(Reference image source: file)

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La entrada BlockFi will sell its mining equipment apareció primero en Bitfinance.

Tesla published its financial report for the fourth quarter of 2022, revealing that it had not bought or sold any Bitcoin.

Elon Musk’s electric car company first added the flagship cryptocurrency to its balance sheet in February 2021, when it announced a $1.5 billion purchase of Bitcoin.

However, it then sold most of it during the second quarter of 2022, generating a profit of just over $63 million. Despite the turbulence in the cryptocurrency industry, caused by the bankruptcy of FTX and other high-profile firms, Tesla has held onto the coins for two consecutive quarters.

The bitcoin price crash had an impact on Tesla’s treasury. According to the recent earnings report, the company had $184 million in digital assets as of December 31, down from $218 million in the prior quarter.

The automaker reported an impairment charge on its bitcoin holdings, meaning the value of those assets fell below their book value or acquisition cost. In short, even though Tesla still holds the same amount of BTC, its value has gone down due to the decline in its market price.

K.Tovar

Source: Diariobitcoin

(Reference image source: Paul Steuber, Unsplash)

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La entrada Tesla hasn’t moved its Bitcoin holdings apareció primero en Bitfinance.

Microsoft announced that it will maintain the price of the console it develops, Xbox, in response to the recent increase in the prices of its main competitor, PlayStation 5 (PS5), announced by Sony.

The Japanese manufacturer announced this week that it had made the “difficult decision” to increase the recommended price of its next-generation console in different regions of the world due to “high global inflation rates”.

This increase in the final price of both the Digital Edition consoles and the models with Blu-ray support has been effective immediately in Europe, the United Kingdom, China, Mexico, Canada and Australia.

In relation to these modifications, Microsoft indicated that, for its part, there will be no changes in the final price of the console it develops, Xbox, according to a statement sent to Eurogamer.

K. Tovar

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Source: La Nacion

La entrada Microsoft will keep the price of the Xbox apareció primero en Bitfinance.

Between January and May 2022, Petróleos de Venezuela (PDVSA) has obtained revenues of more than 6,100 million dollars, equivalent to more than 69 % of the financial resources that entered the Treasury of the state company during the same period of 2021, to despite the stagnation of exports.

The international reference price for Venezuelan oil is stipulated by the price of Merey crude, which reached a price of over 88 dollars per barrel in May, which impacted revenues of over 1,300 million dollars.

The average price of Merey for the first months of this year reached 79.13 dollars per barrel, a level that is 78.5 % higher than that registered in 2021. While external sales during the year registered 5 % below of what was reported last year, which represents about 617,336 barrels per day.

Export expectations

Venezuela had the expectation of exporting, by this date, some 800,000 barrels per day and for the second half of the year more than one million barrels per day had been estimated, but the limitations that the state-owned PDVSA has had to increase production and the increase in domestic consumption has curbed export expectations.

The national executive expects that income from oil exports will be taxed between 14,000 and 15,000 million dollars if the price of crude oil is maintained at current levels. However, there are other more positive projections such as the one by Ecoanalitica that highlighted, two months ago, that its estimates ranged between 13,000 million to 17,000 million dollars.

If the country had a production between 2 and 2.5 million barrels per day, those revenues would only represent 31 %.

M. Rodríguez

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Source: themoneypost.io

La entrada PDVSA revenues exceed 69 % between January and May 2022 apareció primero en Bitfinance.

The price of Bitcoin has dropped recently below $30,000 for the first time in 10 months, as recorded by media.

The data presented by the different exchanges showed that the cryptocurrency reached $29,731, the last time it reached a similar figure was in July 2021.

UST suffered a sell-off attack this week that culminated in Terra using its massive 750 million BTC reserves to prop up its peg to the dollar.

Adding to this, Binance’s BTC/UST pair began to exhibit erratic behavior, reaching a high above $42,000 as other dollar bitcoin markets struggled to preserve the $30,000 mark.

K. Tovar

Source: Cointelegraph

La entrada Bitcoin price falls below $30,000 apareció primero en Bitfinance.