Altcoin News Official TheBitTimes.com

After weeks of appearing to consolidate, Bitcoin (BTC) aims to establish its price above the crucial resistance level of $70,000. Indeed, if the crypto manages to sustain the current bullish momentum, the market anticipates that it will rally to a new record high, possibly above $100,000. Consequently, crypto trading expert TradingShot noted in a TradingView post on May 23 that Bitcoin is forecasted to enter a new rally phase following a period of consolidation post- halving . This development aligns with historical patterns in previous Bitcoin cycles, signaling a potential surge towards $150,000.  Picks for you 3 cryptocurrencies to avoid trading this week 11 mins ago 2 cryptocurrencies to reach $10 billion market cap in the first half o...

Analysts say the fast-approaching halving will likely cut miners’ USD value revenue to $500 million monthly. The fourth Bitcoin (BTC) halving , expected to happen on April 23, 2024, will likely bring miners’ revenue in the U.S. dollar back to the FTX crash epoch, slashing it by half. Bitcoin mining revenue in BTC vs USD | Source: Glassnode You might also like: Bitcoin halving : what it is and how it may affect the price According to calculations done by Glassnode, the value issued to Bitcoin miners via newly minted supply is currently standing at the $1 billion per month level. However, after the 2024 halving , it would be cut to around $500 million per month, a level last seen in late 2022, when miners generated nearly $450 million per month amid the FTX crash. In the meantime, the difficulty of Bitcoin mining on Nov. 13, 2023, increased by 3.55%, reaching its maximum at 64.68 T, according to BTC.com. The average hash rate since the previous value c...