Time to Exchange | Bitcoin Halving
Written by tojukaka
Time to Exchange brings you market analysis and news from the TokenPocket ecosystem and beyond.
TokenPocket is a multi-purpose and multi-blockchain app that comprises of a wallet (TP Wallet), an exchange (TP Exchange) and a dApp browser. These features enable TP users to store and trade cryptocurrencies and gain secured access to decentralized applications on the major blockchains. TokenPocket currently supports Bitcoin, Ethereum, EOS, Tron, BOSCore, IOST, Cosmos, and Jingtum. More blockchains and cryptocurrencies will be supported in due time.
This week’s edition of ‘Time to Exchange’, is filled with some exciting news and also with some insights on the Bitcoin halving.
Despite its retracement to last week’s lows at about $6,300 on Wednesday, April 22nd, Bitcoin’s price has maintained a mildly bullish outlook. It ascended as high as $7,738 on April 23, 2020, and after maintaining the $7,400 to $7,700 range for a few days, it then broke the $7,700 resistance. Bitcoin has not been able to cross the resistance at the $7,700 — $7,800 area but this week’s high is the highest level for Bitcoin’s price since the great dump of March 12.
$8,000 is a new psychological barrier for the volatile cryptocurrency. If Bitcoin can cross that mark, the bulls will have a run for a while. There is, however, a tendency for price to retrace and form lower lows. At the time of writing this post, Bitcoin is trading at $7,688. The market is yet to decide on the direction it would go but with the events happening within the Bitcoin ecosystem and beyond, it wouldn’t be out of place to imagine that the coming weeks will come packed with a lot of activity and volatility for the cryptocurrency.
The most significant event that would affect Bitcoin’s price in the coming weeks besides the pandemic and ongoing economic chaos and money printing is the Bitcoin halving which would occur on May 11, 2020.
This is the third Bitcoin halving in history, the first happened in 2012 and the second in 2016. By the time the second Bitcoin halving occurred, Bitcoin was trading at about $600. The third halving is upon us and many are excitedly waiting to empty their bags hoping that the price would shoot for the moon. This moon shoot may not happen the way people expect it. It is likely that we even see a drop in price in the short term at some time before or after the halving. Anything can happen.
What do you think the price of Bitcoin would be on the date of the halving? Share your predictions in the comments.
The first 50 commenters would receive some TPT and the best commenter would get the lion’s share of an undisclosed amount of TPT.
From birthday celebrations to exciting contests and giveaways, there’s a lot of spicy news from the TokenPocket ecosystem last week.
Flashloans on TokenPocket
You can now deposit your coins into FlashLoans and enjoy a decent yield using the TokenPocket app. Flash loans do not require collateral, they are withdrawable anytime and the highest yield is 7.48% at the time of writing this post.
JST Monthly airdrop for all TokenPocket users
JUST, a Defi system that provides a fair and decentralized stablecoin lending and governance mechanism for a global network of users, announced their monthly airdrop of JST to all TRX holders and TokenPocket would be supporting it.
TP users who hold TRX would be able to receive JST airdrop on the 20th of each month provided that they are holding at least 100 TRX before the snapshot date — May 20th (00:00 UTC). Read more about the airdrop here.
The ABCs of Blockchain
On World’s book day, TokenPocket announced the release of a free blockchain e-book titled “The ABCs of Blockchain, for Beginners”. Subscribe to TokenPocket’s newsletter so that you would be the first to know it when it is released.
Prospectors recently announced some new updates to the game. The updates include account nicknames, tracking worker’s direction on the map, a news feed, and a bank and land registry. If you are a fan strategy games then you should check this one out. Prospectors is an online real-time multiplayer economic strategy game built on EOS and WAX and you can play the game via the TokenPocket app.
Voice Global Launch will happen in 2021
In an interview with EOS Voice News, Salah Zalatimo, the CEO of Voice, revealed that some updates are coming to the Voice social network. These updates would not only improve the user interface (UI) and user experience (UX) but also make it easier for users to sign-up to the platform without the need for a government ID.
In the interview, Salah revealed that the global version of Voice would be released in the first quarter of 2021.
ChainZ Arena is the first mining RPG game on Tron, EOS, and Eth. You can vote for your chain league and earn $10 in USDT. Vote here.
TokenPocket foundation has been distributing mask subsidies to participants of the #WeWearMasks campaign to spread awareness and encourage people to wear masks. On April 11 PM (SGT) on 27, 2020, the #wewearmasks campaign will be coming to an end, the list of lucky winners would be announced and all details will be announced in due time.
Time to Exchange
What happens when you take a scarce commodity and make it scarcer? After the halving, Bitcoin’s inflation would reduce by 50%, from 1800 to 900 Bitcoin per day. There’s gonna be a lot of volatility in the markets and for traders who like volatility, this would be the perfect time to exchange.
TPExchange is a centralized exchange in the TokenPocket app that enables users to trade with the liquidity and of Binance, Huobi, and OKex. Deposits and withdrawals are free using EOS-USDT and users also enjoy the lowest fees. If you are yet to register on TPExchange, do it now!