The Bitcoin starts off slowly into the new week and most of the Altcoins follow the “digital gold”. Meanwhile, the Simpsons are taking up the blockchain theme and the experts are arguing about the upcoming Bitcoin Halving Event. We take a look at the most important events in the crypto space.
At the time of writing, the Bitcoin is valued at USD 9627. This corresponds to a daily minus of 2.6%. The #1 crypto currency has not yet processed last Thursday’s dump, but things could look worse. The important support level at $9600 appears to be holding and a 24 hour volume of just under $44 billion implies that investors are very interested.
Bitcoin dominance rises minimally
The Bitcoin Dominance Index climbs to 63% on Monday. This means that the Altcoins are losing further market share and this is noticeable on the charts. In the Top 50 only 3 Coins (Paxos Standard, VeChain and Algorand) can show an upward trend, while the other alternative assets follow the Bitcoin. The Bitcoin Dominance Index indicates the balance of power between the BTC and the Altcoins. For months this index has been moving at a value of over 60%. So Altcoin friends are still waiting for the long-awaited Altcoin season.
ETH and Co.
Ethereum has withstood the negative headlines from the DeFi exploits of the past week reasonably well and is currently at a price of USD 264.42. In contrast to the other Top 10 Coins, Ethereum is still getting off relatively lightly with a daily loss of just under 2%. Ripple (- 4.27 %), Bitcoin Cash (- 5.92 %), EOS (- 6.60 %) and Litecoin (- 5.51 %), on the other hand, are hit harder.
Simpsons episode takes up Blockchain
The world-famous cartoon series “The Simpsons” deals in the latest episode with crypto currencies and blockchain technology. In the 13th episode of season 31 there is a short (1:49 min) sequence in which the well-known figure of Jim Parson (Big Bang Theory) says: “For the crypto-currencies to work, we need a record of every transaction that takes place. These are recorded in a so-called distributed ledger”. Further, in the not-so-serious scene, it says, “When you use the currency, the transaction is recorded in the general ledger, and when one ledger book is full, we add to a chain of previous books – that’s the block chain.”
Bitcoin Halving injected yet?
Has the third Bitcoin Halving already been fed into the BTC course or not? This question is on the minds of traders and experts throughout the crypto space. Changpeng Zhao, for his part CEO of the crypto stock exchange Binance, is in any case of the opinion that the halving has not yet been injected. The increasing demand is a stronger indicator for him than the shortage of supply. In less than 90 days, the coin rewards for the miners are halved from 12.5 BTC to 6.25 BTC per block mined. As a result, the inflation rate drops to a value of about 1.8 %. In theory, a price rises when supply falls and demand rises or remains the same. However, at this point in time one can only make assumptions about developments in practice.