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Jihan Wu, CEO of mining giant Bitmain, believes the next Bitcoin block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt. Bulls may be late this timePer the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the halving. He is also confident that in a long-term perspective crypto enthusiasts should invest in mining hardware, adding: “There are many uncertainties, but now is a good time to invest in crypto mining. If I were a miner, I would not stop mining but continuing to invest in mining equipment. We are currently in a short-ter..
Analysis of the much-anticipated Litecoin halving that took place on Aug. 5: What was learned about the event and what might happen to LTC in the near future? Litecoin (LTC) has just experienced an event that happens once in four years: the second halving. On Aug. 5, 2019, Litecoin rewards for producing a block were halved from 25 LTC to 12.5 LTC. At a speed of 2.5 minutes per block produced, halvings occurs every 840,000 blocks. Ahead of the event, Cointelegraph discussed the features of the Litecoin halving and the building market sentiment that preceded this momentous milestone. Analysts were uncertain regarding how this will affect the price, hash difficulty and sentiment of the miner community. In a recent interview, Litecoin creator Charlie Lee explained that the predictions are often a result of community actions rather than the halving itself: “So a lot of people are buying in because they expect the price to go up and that’s kind of a self-fulfilling prophecy. So, because the..
Under one day since Litecoin’s halving, its hash rate appears to be as robust as ever, with hash rate at 97% of its pre-halving level. Under one day since Litecoin (LTC)’s halving, its hash rate appears to be as robust as ever. In a tweet posted on August 5 — just under 22 hours after the halving event — Litecoin creator Charlie Lee noted that: “504 blocks have been mined since the halving. This is 1/4 of the way to the next diff change. 21.65 hrs has elapsed since the halving. Normally on average it takes 21 hrs for 504 blocks. This means 97% of pre-halving hashrate still mining LTC.” Mining FUD debunkedHalving — or the pre-coded 50% reduction of the mining rewards for a given cryptocurrency — is an event that is closely watched by the crypto community for its impact on both the price and on miners. For Litecoin, rewards halve every 840,000 blocks — a process that occurs every four years. The block speed for Litecoin is roughly 2.5 minutes, with around 576 blocks generated per day, ..
Litecoin news today – Litecoin halving is the event where the number of produced Litecoin rewards per block will be divided into two. The overall number of Litecoin mined by miners per block will be dropped from 25 10 12.5 LTC in this litecoin halving. The number of litecoin found per block will become more limited and this halving reward guarantees that litecoin overall supply will reach 84 million. Traders should anticipate fluctuation during this period while miners should anticipate earning lower mining rewards. Litecoin Halving – Litecoin Price Prediction – LTC Halving Could Affect Old Model Miners According to the LTC news update – Litecoin blockchain attained the block height of 1,680,000 on Monday, Litecoin, the fourth-largest cryptocurrency by market capitalization has just decreased its block reward for miners by half. The litecoin blockchain has been programmed to decrease its mining rewards by half every 840,000 blocks, which is approximately every four years. Due to the ..
The altcoin’s much-anticipated halving event fails to deliver any sudden bull market. All eyes were on Litecoin (LTC) price August 5 as its block reward halving failed to excite markets and produce gains for investors. Litecoin 7-day price chart. Source: Coin360 LTC gains fail to materializeData from Coin360 showed Litecoin, which is the fifth-largest cryptocurrency by market cap, trading at around $94 Monday, just one hour before the halving. Once the process completes, miners will gain just 12.5 LTC per block of mined transactions, instead of the current 25 LTC. While not guaranteed, this increased scarcity has the ability to push up the price of a token, Cointelegraph reporting on anticipation building prior to Bitcoin’s (BTC) next halving in May 2020. For Litecoin, however, the halving has yet to enliven sideways markets, LTC/USD gaining just 3% over the past 24 hours. Bitcoin in fact outperformed Litecoin and all other altcoins in the top twenty as the week began, rising by c..
Litecoin news today – On cryptocurrency news today, in the next few days, there are possibilities that cryptocurrency may pick up a bid. Going by the performance of the past six months, an impending supply cut has been priced in by smart traders and investors, making massive gain far-fetched. Litecoin News Today – Litecoin Price Prediction – LTC May Experience Months of Downtrend Due to Halving The principle inherent within litecoin’s (LTC) code is fixed to soon decrease rewards for the miners who guarantee transaction processing on the world’s fourth-largest blockchain by total value. In a few days, litecoin will experience a programmed reward halving, this is a procedure aimed at preserving cryptocurrency’s purchasing power. The mining reward is currently set at 25 litecoins ($2,500) per block and will decline to 12.5 litecoins ($1,200) per block on 5th August. The halving is similar to interest surge and other values launched by central banks across the universe when tackling high..
Litecoin halving: experts discuss how the market will respond and what is likely to happen before, during and after it takes place... With just one day to go until Litecoin’s (LTC) next halving event, Cointelegraph sets out all you need to know about the cryptocurrency’s reduction in block rewards. In spite of their reputation for creating price hikes, the lead up to the halving has witnessed a 25 percent decline in valuation over the last month. What is halving?Halving is a process that occurs when the mining reward for a cryptocurrency is reduced by 50%. Miners receive crypto rewards for solving problems that create each new block on a given blockchain. The rewards differ for each cryptocurrency. With Litecoin, miners are currently awarded 50 coins per block. After Aug. 5, miners will only receive 25 Litecoins per block. Litecoin rewards halve every 840,000 blocks, a process that occurs every four years. The block speed for Litecoin is roughly 2.5 minutes, with around 576 blocks g..
Converted Bitcoin bull Joe Kernen has predicted that the coin could hit $55,000 by May 2020, the date of Bitcoin’s next halving. Former Bitcoin (BTC) bear Joe Kernen has predicted that the coin could hit $55,000 by May 2020, the date of Bitcoin’s next halving. The Squawk Box co-host appears to have undergone a full conversion to Bitcoin maximalism, surprising his show guest — Fairlead Strategies managing partner Katie Stockton — on July 29 with his forecast that the coin could well see a 500%+ price surge by the time of its next halving. Bitcoin’s planned halving in May 2020 will mean that mining rewards will be reduced by half — from 12.5 BTC to 6.25 BTC — an event that will drastically reduce the coin’s supply. Kernen predicted that the increased scarcity will catalyze greater demand, arguing that such classical market principles still apply to crypto-assets — just as they do to scarce precious metals such as gold and silver. Analysts consider halving as bullish price factorThe hyp..
Bitcoin price levels will not dip to new lows prior to the May 2020 halving event, market analyst Filb Filb suggests. Bitcoin (BTC) miners want to coordinate the market in order to maximize revenue as the 2020 block reward halving nears. Are miner’s controlling the market?That was the conclusion of a new Bitcoin price analysis by popular trader Filb Filb as BTC/USD neared $9,000 on July 17. The largest cryptocurrency saw considerable downward pressure this week following a volatile period, while analysts remain at odds as to which factors are driving the market. Filb Filb, however, does not imagine Bitcoin will see new lows this year, as miners wish to optimize their profitability as far as possible. They, he said, are firmly in control. “As Satoshi said himself rightly pointed out that commodity costs are likely to gravitate to production cost. Why? Because miners will sell into demand where revenue per unit > cost per unit. Likewise, collectively they are disincentivized to sell wh..
Block reward halving “shock” at Bitcoin and Litecoin could be mitigated by merged mining, according to Binance Research. The effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be mitigated by merged mining, according to a report by a research arm of major crypto exchange Binance released on July 12. Following Charlie Lee’s prediction that some miners may shut down Litecoin mining after the halving, which is expected to take place on Aug. 5, 2019, Binance Research analyzed the potential of so-called merged mining to retain incentives for crypto miners. Merged mining is a practice of using the work done for one blockchain, or parent blockchain, on other smaller child blockchains by implementing Auxiliary Proof of Work (AuxPoW). To date, there are three major examples of merged mining, including Bitcoin blockchain-parented Namecoin (NMC), Litecoin-merged Dogecoin (DOGE), and Myriadcoin (XMY) which is merged with both LTC and BTC. In the new report, Bin..
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