The possible halving of Bitcoin supply nears, as there were rumours that the date set for this even was around 10th of July. Naturally, if and when this thing happens the price of the Bitcoin will certainly grow, just like it did the last time the reward for mining was lowered. Therefore, everyone that loves or hates the cryptocurrency is impatiently waiting to see how the situation will unravel.
Meanwhile, we’ve seen the Bitcoin grow and then fall and then stabilise around $640. Today, the price chart reveals that the currency has jumped again on the first day of July, 2016, only nine days before the expected halving is supposed to take place.
Other than that, there is also some interesting information to be shared and articles to be recommended. Plus, the volume has improved a bit and the market cap is back over the $10 billion threshold again. Therefore, pay attention and carefully plan your next Bitcoin trading move.
Indicators Predict Further Price Improvements
This time, instead of starting with the news, we will first focus on the price chart and the price movement. It’s really important to notice the positive change of Bitcoin’s value in the several hours that have passed. Yesterday evening the price hit a 24-hour low of $645.94 and that seems to be the moment when the Bitcoin regained its strength and jumped for about $20. At one point today the price hit a high of $679.40, which was breached minutes ago with the current trading price of $681.16. What does this mean? Well, it’s pretty obvious; the currency is constantly growing.
The price changes inevitably led to other changes; hence, the market cap is once again over $10 billion with an exact value of $10,642,442,410. The volume has also jumped a bit and now it’s settled at $161,960,000. This reflects the price movement and possibly announces further growths in value.
Even the indicators and the averages are all about buying and investing in the cryptocurrency, since they predict the price will improve. Aside from the neutral CCI and highs/lows and the pro-sell STOCHRSI and bull/bear power, all other seven indicators send a strong buy signal. Similarly, all except for the 10-day SMA are pro-buy. We believe that until the long awaited halving takes place, the Bitcoin will continue to grow.
Meet the Top Companies that Control the Bitcoin
As the majority of reputable media is occupied with supply halving of the Bitcoin, Business Insider found another interesting thing to write about – businesses that control the Bitcoin. Namely, the article offers a list of 18 pools that control the largest share of coins in the world. The top three include DiscussFish/F2Pool (22.06%), AntPool (16.82%) and BW Pool (15.33%).
Amusingly enough, even though the concept of the cryptocurrency has been known to Australians and there are a good number of Bitcoin companies on its territory, the well-established magazine News decided to introduce its readers with the Bitcoin. This is a sign that the currency is being widely accepted and the number of its users is likely to grow thanks to such articles that explain the idea to people who have no idea that digital currencies even exist.
Finally, we would like to conclude July’s first post with the results of a Citi Research study. According to Wall Street Journal, the information they collected show that the Bitcoin was not a threat to the banking system, but also that the currency still wasn’t ready for prime time.