Topic: Bitcoin performance in first half of 2020 - page 2. (Read 332 times)

To my opinion that exactly is the problem. We always compare Bitcoin performance with 2017 hoping that will repeat sooner or later and everything less is disappointment. But 2017 was exceptional and we shouldn't always look back to that.
I think that Bitcoin performance in first half of the year was average but expected and if we don't have too big and unrealistic expectations, we have to admit it was quite good.

I think even if there's no pandemic, bitcoin can be seen to struggle to cross the resistance level. Post-halving, it's expected to see that the price of bitcoin will go down due to the effect of the halving.

Miners, not all of them but some will probably shut down their miners due to the impact that it brings. Lesser rewards and for them, they can't cope up with the expenses anymore so it will result to shutting down. We can conclude that the first half became good, looking back to the big plunge in March and the expectations after the halving.

In my opinion, bitcoin's performance around the times of halving is not up to satisfactory levels regardless of its successful run against the pressures of pandemic times. This first half of 2020 must be really a roller coaster ride for bitcoin markets but failed to break and hold the biggest resistance level. If there was no halving this time then probably I would have rated this period as "too good" but halving should have launched prices above $11k to assume about bulls on control.

Overall, last 6 months neither of bull nor bear dominated the markets continuously which must be a good thing as fluctuating markets usually attracts more investments rather than falling conditions like 2018. I guess the second half 2020 will be more interesting as we can expect bulls to dominate at least hereafter.

Actually if we are looking for Bitcoin for us to be confident about it's actually how it quickly recovered from the massive drop as well as how it is somehow immune to the pandemic as compared to other markets. I remembered it during March where the crypto market was not the first market to react in the pandemic and it was actually the last one, and even if it was the last one who have broken down it was the first one to recover. Some say the recovery was because of the upcoming halving but I think the price action in the post-halving shows no relation on how the demand and price went up even before the halving happened. Some whales might just have actually taken advantage of the FUD for them to short Bitcoin and maybe that's why it recovered so quickly.

Bitcoin performed quite well in first half of 2020 but not like it performed in the end of 2017 or start of 2018. Bitcoin crossed the milestone of 20k$ which was a great achievement. According to market condition the performance seems good.

The market for altcoins might change int he 2nd half of this year if the ETH 2.0 will be successfully launch.
I know there's no definite date yet as Vitalik has not confirm the launch date, but people are already speculating and they want it sooner since they have been waiting for too long. When ETH dump, the rest or most of the altcoins lose its value, so maybe ETH would be the answer to bring back the bullish market for alts.

Doesn't mean that you posted the source of your thread wouldn't mean it wasn't plagiarism. If you want to start such topics, better indicate your own words as well and rather just quote important keypoints on the article. You're posting here a clear copy/pasted thread..

Enough said, Bitcoin still remains good after the halving and in this mid of 2020. Yet the problem here is that would ETH 2.0 make a huge impact on Bitcoin's price? The new upcoming system would be promising as many awaits its release, maybe it will pump but it wouldn't reach even a quarter of Bitcoin's price. Also, I think the price and the $10,000+ resistance would remain until the end of the year while we are facing the pandemic. And it might rise just after the worldwide quarantine ends.

PoS is more efficient than Pow, as it will solve scalability problem, allowing the network to process more transactions than it can currently handle. Stakeholders will get some benefits too. An investor who locks up the projected minimum of ETH 32, may thus earn $0.82 per day and $297.67 per year as a passive income. Does it mean that ETH will outperform BTC this year?

The first of 2020 has been roller-coaster ride for Bitcoin and the overall cryptocurrency market. The outbreak of the Coronavirus pandemic world-wide has the dynamics of global economics as well as for the crypto markets.

Besides, we also have some important events from the crypto space like the Bitcoin halving in May 2020 and the accelerated development of ETH 2.0. Let’s take a look into the performance of Bitcoin and other top-five altcoins in the crypto market.

Bitcoin Performance in First-Half of 2020

2020 started on a pretty good note for the Bitcoin investors as the BTC price appreciated over 40% just in the first 45 days of the year. Bitcoin went all the way from $7000 to over $10,000 by mid-February.

However, Bitcoin couldn’t cross its major resistance at $10,500 levels and soon after the outbreak of COVID-19, BTC price plunged more than 50% from its 2020-high to go below $5000 levels just in a month’s time by mid-March 2020.

If we look at the BTC year-to-date chart, BTC’s performance has been very similar to the traditional stock markets. BTC’s price collapse is in tune with the global market collapse in March 2020. Thus, Bitcoin failed to live to its image of being the ‘Digital Gold’ and a safe haven for traditional market investors.

On the other hand, the price of physical Gold continued to rise with the global markets plunging. Soon after this price crash, Bitcoin investors yet again started accumulating the world’s largest cryptocurrency.

But investors’ hopes remain up and alive for the Bitcoin halving event in May 2020. Investors once again started accumulating BTC and BTC price started. Just before the scheduled Bitcoin halving data of May 11, BTC price touched $10,000 surging 100% from its 2020-low.

Pots the Bitcoin halving, Bitcoin price has remained volatile moving back-and-forth in the range of $8800 (support) and $10,500 (resistance).

If we compare the year-to-date graphs for Bitcoin and the overall cryptocurrency market, they are largely identical showing that BTC still decides the over crypto market momentum single-handedly.

Currently, BTC is trading at 30% year-to-date premium around $9200 levels.

A Look At the Altcoin Performance

The world’s second largest cryptocurrency and the most popular altcoin - Ethereum - has remained on investors’ radar for 2020. The Ethereum community has been eagerly waiting for the launch of Ethereum 2.0.

As Ethereum prepares to move from the PoW to the more efficient PoS consensus model, investors are accumulating ETH to participate in the staking process in Ethereum 2.0. In ETH 2.0 investors need to have a minimum of 32 ETH to participate in staking.

Of lately, developments with respect to ETH 2.0 have been in an accelerated mode. Last week, blockchain engineering firm ConsenSys announced its Codefi staking platform to offer institutional-grade, exchanges, and wallets, its ETH 2.0 staking as a service.

Ethereum has been one of the best performing altcoin trading at 80% premium year-to-date. At press time, Ethereum is trading at $228 with a market cap of $25 billion.

Stablecoin Tether (USDT) has managed to climb up the ranks and is currently the third-largest cryptocurrency by market cap. Thanks to the poor performance of other altcoins like XRP, Bitcoin Cash (BCH), and Litecoin (LTC).

One altcoin which has turned very popular and given massive returns is Chainlink (LINK). The price of LINK cryptocurrency has surged over 3000% year-to-date. Chainlink is an oracle service provider which helps to transfer off chain data to other blockchain networks. Recently, Chainlink partnered with China’s Blockchain Services Network (BSN) to transfer real-word data using the interchain service hub IRITA. 

Source: https://www.worldcoinindex.com/news/a-look-at-the-performance-of-the-top-cryptocurrencies-in-the-first-half-of-2020