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Bitcoin Halving Could Take Place In April 2020 Due To Hash Rate Increase

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Bitcoin halving could happen as early as April 2020 because of the huge increase in the cryptocurrency’s hash rate according to some of the crypto analysts and we are about to read some more in the coming altcoin news below.

The bitcoin halving event is one of the most anticipated events in the entire crypto industry and it was initially expected for May 2020. However, with the hash rate of the network accelerating fast, the event could happen in April next year. The hash rate of the number one cryptocurrency is one of the most important elements that explain how the mining process works.

When a user has a bitcoin wallet and he wants to send some of his BTC funds from the same wallet to another one’s address, they have to create a specific transaction and sign it with a private and public key so they will be able to broadcast the transaction on the Bitcoin network. The goal is to add the new transaction into one of the blocks which will later be added to the blockchain. The job that the miners have is to pick up the transactions and add them to the given block’s list of transactions. During the same process, the miners will also have to verify each transaction so they will be able to prevent the double-spending problem. In order to transfer the transaction to the network, the miners have to come up with a 64-digit hexadecimal number which will give a unique mathematical characteristic when the calculation of the particular function is added. The trick is that there is only one way to find this number which is by guessing.

Here is where the hash rate comes into the spotlight. The number of ‘’guesses’’ that the computer does per second is what the hash rate actually is. The higher the hash rate of the machine, the higher the chance of adding a block to the network and receiving the block reward. So from here, the hash rate increased dramatically in 2019 since only at the beginning of the year it was around 41 quintillion hashes per second. Yesterday, the hash rate reached 97.5 quintillion hashes per second which are an increase of more than 130 percent. Now, the bitcoin halving could happen earlier because it is supposed to happen when 210,000 blocks are added to the blockchain as per the analysis in the latest cryptocurrency news.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Crazy Analysis Puts BTC At $400,000 By 2021 Based On One Pattern

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The Bitcoin Performance Since Difficulty Bottom chart is an indicator that shows the formation of a cup pattern that is peaking in spring 2021. This crazy analysis is what lets one analyst predict that Bitcoin (BTC) can top a price of $400,000 by then. We are talking about PlanB and his latest tweet which is all over the latest cryptocurrencies news and shows the pattern. https://twitter.com/100trillionUSD/status/1229828709097594881 The performance since the difficulty bottom chart indicates that following the weekend dip, business is resumed with Bitcoin back above $10,000 and most of the altcoins posting green today. This crazy analysis also clears the bearish sentiment and in some places replaces it with bullish one (Chainlink and Tezos are a good example for gains). With this, we can say that bullish sentiment has once again returned and hodlers continue to dream of what might be good for the Bitcoin price in the near future. Right on cue, the analyst with a handle @100trillionUSD also know as @PlanB tweeted the chart which is based on a ratio of current price over bottom price $3,700 in December 2018) against time and represented by the mining difficulty. As such, the Bitcoin latest news show that there will be four distinct cycles, each beginning with low mining difficulty that corresponds with a low ratio of current price versus bottom price. In each case, this ratio increases in line with the mining difficulty until it peaks at around 120,000 to 140,000 blocks. The current mining difficulty is at 80,000 blocks and based on the previous three cycles, there is some room for it to grow up until the cup ceiling. The crazy analysis by PlanB has been commented by many other analysts. However, PlanB also replied to a lot of people and one of his most interesting replies was the following that said:
The Bitcoin halving is bigger than you know. The daily global #Bitcoin  demand will be higher than the daily release of #BTC; this was not the case in 2012 or 2016. When the daily supply can’t fulfill the daily demand, we know what happens. We’re in new territory #Crypto kids.”
https://twitter.com/XRPjedi/status/1229864118946951168?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1229864118946951168&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2020%2F02%2F19%2Fanalyst-prices-bitcoin-at-400k-by-next-year-based-on-miner-capitulation-pattern%2F All in all, past performance is never a guarantee of future results which is why we advise all traders to take this analysis lightly and only see it as a potential target for the most dominant cryptocurrency.
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Where And How To Spend BTC In 2020: The Ultimate List

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If you are following the Bitcoin news now, you probably know that the price of the most dominant coin is again in the highs of above $10,000 and it is very stable moving forward. This gives a push in the back for many traders and urges them to learn where and how to spend their BTC in 2020 now that it has a greater value. Whether you are a fan of HODLing (holding your BTC and not spending it) or want to spend crypto online, you should know that there are many places to spend it and that you can truly live like a king. Below, we are presenting you the answers to your questions on where and how to spend BTC. SHOPPING
  • Purse.io - A great place for whatever you need whether it's fancy or cute
  • SpendaBit - For many, the easiest and most intuitive way to buy anything you are looking for with BTC
  • Newegg - Once you land on this website, you will see where and how to spend BTC buying things you need (gadgets and tech)
  • Rakuten - If you want to spend BTC but cannot shop on Amazon, Rakuten has got you covered.
BETTING
  • SportsBet - A global sports betting place that accepts Bitcoin and gives you options to bet on.
  • BetOnline - One of the leading sports betting sites.
  • Betcoin - If you don't know where and how to spend BTC on betting, this should be one of your destinations.
  • FortuneJack - From dice to casino and live casino, there are tons of options here as well.
TRAVEL
  • TravelbyBit - If travel is your thing and you want to spend crypto, you can use this website and buy tickets for blockchain conferences using BTC.
  • CheapBizClass - Where and how to spend BTC on airline tickets? Well, you can fly business class for the same price with this company.
  • Destinia - From hotels to flights and travels, this place gives you the horizon.
  • Bitcoin.travel - A slick and modern site for your standard travel needs
FOOD And LIFE
  • ArrowHead Beef - You can eat steaks, ribs and filet mighnon and pay with Bitcoin for both in-store service and delivery.
  • Undead Coffee - Buying coffee with crypto never looked better
  • Bee Bros - You can buy some of the best honey from the Cache Valley and pay in BTC.
Found a place where you can spend your BTC - or have more to add to this list? Comment in the section below!
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Bitcoin Retakes The $10,000 Level Again, What Is Next?

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Bitcoin retakes the $10,000 position again fortunately for the bulls since the weekend’s pullback leads to this level. However, the analysts wonder, what could be next for the benchmark cryptocurrency? Let’s try and find out in the following Bitcoin news today. During the Tuesday peak, the price of Bitcoin hit $10,300 but it failed to break past the level when it tested it for the second time. Regardless of the short-term resistance, the analysts have been impressed with the 8.4 percent rally from the $9,500 price level and they were some that thought that Bitcoin will set a new multi-month high in the upcoming weeks. As fast as Bitcoin dropped this weekend, it recovered at the same speed, and the cryptocurrency returned to the $10,100 after the peak of $10,300 which is currently up by more than 6% since the local bottom is $9,500. The recovery came quickly after the short-term sell trend had formed and led some of the investors to fear that a return of the low $9.000 is back and imminent. While it is too early to tell whether or not Bitcoin saw a reversal trend, the number of analysts believe that BTC is unlikely to return to lower lows after this strong spike in price away from the $9,500. The trader Inmortal Technique explained that Bitcoin’s bounce in the $9,500 region was similar to the one of the previous retracement in the ongoing uptrend. BTC followed the path that it took last time during the correction which could mean that it will push towards new highs past $10,500 in the upcoming days, possibly reaching the $11,000 region. From a technical analysis perspective, Bitcoin reached a positive signal during the market update showing a 50-day simple moving average and the 200-day simple moving average crossed. The long term indicators show that the golden cross indicates a bull market on the horizon and is strengthened by high trading volumes. In 2019, Bitcoin rallied by more than 200 percent from the time on the golden cross to the local top and the other golden cross in 2015 which preceded more than 6,000 percent move higher. Bitcoin rallied over the past two weeks but the gold did as well. This precious metal took a hammering for the bigger part of the decade, did pretty well over the past two years as Bitcoin retakes the higher position above it.
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US Government Auction: $40 Million Worth Of BTC To Be Sold Today

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The US Government Auction starts today where more than 4,000 BTC will be auctioned today and the procedure will happen with sealed bids where the bidder that bids the most gets the bitcoins. Let’s read more in the following Bitcoin news today, here at DC Forecasts. All of the bitcoins in the US Government Auction have been forfeited in different federal administrative and civil cases. The US Marshal Service will carry out the sealed bid auction for more than 4041 BTC later today and the amount at current rates reaches less than $40 million. According to the official release, the users that will participate have to deposit to participate in the auction set to $200,000 so the bitcoins will be sold in four different series and will be divided into several blocks. The bidders had to register with the USMS and those who are approved to take part have to use their confirmation from the USMS and all documentation received after the deadline will not be considered. The auction comes at a very convenient timing since Bitcoin’s price charted a new Golden Cross which means that the 50MA crossed above the 200MA which is a known significant bull flag. The last time that this happened, the price of the number one cryptocurrency surged to 165% in about 60 days. This means that the $40 million worth of Bitcoin today could reach up to $106 million in less than two months if the history repeats again. The rules of the auction are very simple. The bidder who offers the highest price will be the one that will receive all BTC. If there is more than one bid at the same rate, the first bid will win. If a default of a winning bidder happens, the next highest bidder will get the BTC. Back in 2014, the popular bitcoin supporter Tim Draper participated in a similar auction where more than 30,000 Bitcoins were sold which were previously seized in the Silk Road bust and he bought them all. It is still unclear how much money he paid for the amount but this stash is now probably worth more than $290 million.
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