On the watch for Bitcoin Halving
Experts give BTC price predictions, while the Bitcoin hash rate fluters to the new all-time high. The review of the week May 4 — May 10 by BTCMEX.
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Bitcoin News
The Bitcoin halving is much anticipated as two previous halvings resulted in massive rallies. The block reward cut brought the BTC price from $11 to $1,000 in 2012 within a year. The third block reward halving is expected to happen on May 12, 2020.
Bitcoin’s mining hash rate set the new all-time high on May 3 of more than 142 exahashes per second, beating its record reached in March. The difficulty is set to increase by a modest 1.4% on May 5 and will be the last such increase before the halving seven days later.
Amid the extreme network volatility, Bitcoin price climbed above $10,000 on May 8, making a 160% gain since Black Thursday (March 12, 2020). BTC slipped back soon and was trading at above $9,700 for the rest of the week.
One more Bitcoin record was set in Africa. The peer-to-peer trading volume broke the heights of 2017 BTC rally, as nearly $10 million worth of trade took place across the P2P Bitcoin markets of the Sub-Saharan region.
Read further about MakerDao upgrade and the new hack scandal on BTCMEX.
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