One of the most anticipated events in crypto history just occurred a few days ago — the Bitcoin Halving. This event marked an epoch where miners will get 6.25 BTC in the next four years for every block of the Bitcoin blockchain mined.
So what is so special about an event that actually disincentivizes miners? While there have been murmurs of discontent and concerns over possible threats to the security of the network, it is also a fact that the demand for bitcoin has seen a steady rise.
Two Epochs Clashing, Investors Look Towards Bitcoin
This bitcoin halving is also special because it has coincided with another major event — the coronavirus pandemic. The global pandemic has pushed the economy to the ground and people are losing businesses and jobs. Nations are losing GDPs and growth rates are tumbling. Such a potentially disastrous situation has left people looking for alternatives that can offer them long term value. And, naturally, people are moving towards cryptocurrencies.
There has been a 90% increase in the number of bitcoin ATMs since 2019 and some ATM operators have seen a more than 40% increase in the use of bitcoin ATMs since February 2020. Bitcoin still rules the roost with a $10 billion daily transaction volume compared to the less than $500 million volumes for ETH and LTC.
The steady price rise of bitcoin is also a sign of bullish sentiments of retail and institutional investors. Bitcoin also successfully broached the $10,000 barrier on May 14 and the total open interest on CME Bitcoin futures has risen by 1,000% since the start of the month. This is quite different from the low volume recovery from the March 13 crash to $3,750. This signifies inherent positive sentiments from investors all over the globe.
Bitcoin Fever is High!
If there was a better time to buy BTC, it is undeniably now. It must be noted that the last time the bitcoin halving occurred, BTC price shot up to its all-time high of $20,000, within a year. During that time, trading volumes were unbelievable high and traders, as well as investors, made millions of dollars.
Today, after four years, the market is more mature and traders have better opportunities. Social trading, margin trading, along with spot trading, have all helped even novice traders to make the most of this fantastic opportunity by leveraging the potential of the booming market conditions.
Tycoon is Offering the Ride of a Lifetime
Tycoon is opening novel vistas for traders of all stages — novice, intermediate, and professionals. Its unique model uses APIs to connect traders to reputed exchanges like Binance and follow expert traders to benefit from their trades to earn a massive profit.
Being on a trusted platform like Tycoon will ensure the safety and security of personal data and assets. Using cutting-edge security architecture with intuitive UX/UI features, Tycoon not only enhances security, but it also makes social trading fun, easy, and seamless.
So, if you are sitting on the fence wondering when to jump in, now is the time. Thousands of traders have already registered on Tycoon and have strapped themselves for the ride of a lifetime. What are you waiting for?
Register and get ready. Do not miss your chance!