One of the biggest crypto news headlines of the halving event has had a direct impact on today’s Bitcoin price. At the time of writing, the price of Bitcoin was at $9,381.54 USD showing a positive upward swing. After struggling hard in the 1st Quarter of 2020, Bitcoin needed to make up some serious ground.
The Bitcoin Price for Q2
Crypto enthusiasts are hopeful for the 2nd Quarter of 2020 for this cryptocurrency giant. Even dealing with the crumbling global economy due to the Coronavirus pandemic, the Bitcoin price still outperformed its competitors.
Many investors believe that Q2 results will be entirely different from Q1 since Bitcoin has undergone another halving event. As one of the most-anticipated cryptocurrency events of 2020, the 3rd Bitcoin halving helped jumpstart the declining digital finance market. As the largest digital token in the world for market cap, the Bitcoin price movement guides market fluctuations.
Bitcoin Hash Rate Measurement
Traditionally, investors would track the Bitcoin price when analyzing past fluctuations and predicting future rates. But all that is about to change now with the upcoming FTX platform advances that were just announced today. FTX announced the ability to show ‘hash rate futures’ utilizing the average difficulty of the Bitcoin network on each day. Since the difficulty adjusts over time, the ability to track difficulty will help determine somewhat accurate hash rates as well.
FTX has operated in the cryptocurrency exchange dealings since 2018. By joining Bitfinex with the expansion of the futures niche, the game is changing for the better. With the ability to examine Bitcoin’s dominance over its competition, investors can make better portfolio adjustments for the future. The Bitcoin price won’t be the only deciding factor for the future anymore.
Paul Tudor Jones’ Interest in Bitcoin
In a recent CNBC interview, Paul Tudor Jones disclosed his recent Bitcoin investment purchases. Claiming that Bitcoin tokens now make up somewhere between 1% and 2% of his asset portfolio, others are taking notice. As a large name in the financial industry, this significant move can only mean big things for Bitcoin price movements. Having someone of this caliber state, his own investments can ignite considerable interest for Bitcoin purchases.
What Does the Future Hold for Bitcoin?
As the world economy recovers from the current pandemic, the Bitcoin price will begin to make market gurus take notice. Crypto enthusiasts were keen on following the price fluctuations before the halving event but now even more so. History has shown that Bitcoin can hold its own in times of economic struggles and major crypto market happenings.
Although cryptocurrencies are still a bit shaky with the uncertain global economy, investors still have high hopes for Bitcoin. As we move through the 2nd Quarter of 2020, many believe the Bitcoin price will astound enthusiasts around the world. Not letting up, this crypto giant seeks to break ground and give investors what they are looking for. As it moves towards that favored $10,000 mark, investors anticipate how the 3rd Quarter will look for Bitcoin.
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