Bitcoin News Today – Headlines for April 15
发布时间：2020-04-16 09:49:48 发布人：TokenString
Bitcoin News Today – The world’s largest digital currency by market cap has been trading in a tight zone over the past day. Bitcoin has been capped on the upside with the bulls lacking momentum to break over the $7k mark. Bitcoin (BTC) is set to undergo its third halving event in a few weeks.
The event is aimed at controlling inflation and it would see the reduction of mining reward on the network from 12.5 to 6.25 BTC. If the demand for the coin remains the same after the halving event, the reduction in regular issuance should push the price higher significantly.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$6,576.73
-4.02%
Bitcoin’s Halving Could Serve as a Catalyst
The COO and co-founder of Stack (a digital currency tracker and index fund provider) – Matthew Dibb – said, “The 50% emission reduction could catalyze the continued appreciation of the digital currency.”
Nevertheless, options traders are purchasing put options and pushing the put-call open interest ratio of Bitcoin higher heading into the event. The ratio surged to 0.61 on Monday, which is the highest level it has tested since February 27 after hitting the low of 0.42 on March 24. The CEO of Skew – Emmanuel Goh said, “The put-call open interest ratio measures the number of put options open relative to calls.”
Put options give holders the right but not the responsibility to sell the underlying asset at a predetermined price before or on a specific date. However, call options give holders the right to buy. Goh also added that:
“The upsurge in the put-call open interest ratio from 0.42 to 0.61 recorded over the past few weeks suggests an increased focus on hedging the downside risk in the price of Bitcoin.”
Some Investors Fear Bitcoin May Suffer Post-Halving Price Drop
One of the reasons why investors are hedging is the fear that BTC may suffer a post-halving price drop, just like what Litecoin experienced after its halving last year. The hard forks of Bitcoin – Bitcoin Cash and Bitcoin SV – also experienced a similar event recently.
From the history of halvings, it is clear that halving is not always bullish. The 7th largest digital currency by market cap, Litecoin (LTC), had its halving event on Aug 5 last year. After the event, the price of the digital currency plunged from well over $100 to $40 in four months. During that timeframe, the hashrate of Litecoin plunged from 458 TH/s to 133 TH/s according to data from BitInfoCharts.
The mining reward of Bitcoin Cash was reduced on April 8 from 12.5 BCH to 6.25 BCH. Since then, the price of the digital currency is down by about 20%. The price of Bitcoin SV also plunged by more than 13% after its first halving.
Bitcoin News Today – The world’s largest digital currency by market cap has been trading in a tight zone over the past day. Bitcoin has been capped on the upside with the bulls lacking momentum to break over the $7k mark. Bitcoin (BTC) is set to undergo its third halving event in a few weeks.
The event is aimed at controlling inflation and it would see the reduction of mining reward on the network from 12.5 to 6.25 BTC. If the demand for the coin remains the same after the halving event, the reduction in regular issuance should push the price higher significantly.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$6,576.73 |
-4.02%
|
Bitcoin’s Halving Could Serve as a Catalyst
The COO and co-founder of Stack (a digital currency tracker and index fund provider) – Matthew Dibb – said, “The 50% emission reduction could catalyze the continued appreciation of the digital currency.”
Nevertheless, options traders are purchasing put options and pushing the put-call open interest ratio of Bitcoin higher heading into the event. The ratio surged to 0.61 on Monday, which is the highest level it has tested since February 27 after hitting the low of 0.42 on March 24. The CEO of Skew – Emmanuel Goh said, “The put-call open interest ratio measures the number of put options open relative to calls.”
Put options give holders the right but not the responsibility to sell the underlying asset at a predetermined price before or on a specific date. However, call options give holders the right to buy. Goh also added that:
“The upsurge in the put-call open interest ratio from 0.42 to 0.61 recorded over the past few weeks suggests an increased focus on hedging the downside risk in the price of Bitcoin.”
Some Investors Fear Bitcoin May Suffer Post-Halving Price Drop
One of the reasons why investors are hedging is the fear that BTC may suffer a post-halving price drop, just like what Litecoin experienced after its halving last year. The hard forks of Bitcoin – Bitcoin Cash and Bitcoin SV – also experienced a similar event recently.
From the history of halvings, it is clear that halving is not always bullish. The 7th largest digital currency by market cap, Litecoin (LTC), had its halving event on Aug 5 last year. After the event, the price of the digital currency plunged from well over $100 to $40 in four months. During that timeframe, the hashrate of Litecoin plunged from 458 TH/s to 133 TH/s according to data from BitInfoCharts.
The mining reward of Bitcoin Cash was reduced on April 8 from 12.5 BCH to 6.25 BCH. Since then, the price of the digital currency is down by about 20%. The price of Bitcoin SV also plunged by more than 13% after its first halving.
