BTC – Bitcoin

3/5/2023

With Bitcoin wave (i) completed in a 5 wave impulse, wave (ii) should retrace in an a-b-c pattern. The standard retracement tool calculates a range between 17,384 and 21,365 and may bottom in the first week of April.

2/19/2023

A five wave rally following the FTX capitulation dump suggests with high probability that the Crypto Winter is over.
We look for the 5th wave top around the new moon on Sunday if it hasn’t ended yet. This starts a 2 week down cycle until the Full Moon on March 7.

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SPX – S&P Index

Trading is neutral with a bias to the downside based upon wave analysis of Friday’s overlapping rally. Elevated volatility should come down. There is the looming bank crisis, but all the shoes might have dropped. Do not let the media

ETH – Etherium

ETH -Etherium Chart Analysis

ETHE Grayscale Etherium Bitcoin Trust 2 Minute Candlesticks

ETHE – Grayscale Etherium Trust

July 31, 2021 Extended 5th wave structures are common patterns for Etherium and other alt coins. The current cycle tops out August 8th. Let’s see if ETHE can reach the 200% Fibonacci Extension at 24.34 before then.

GBTC – Grayscale Bitcoin Trust

GBTC Daily Candles 7/23/2020

Crypto Lunar Cycles

Using the phases of the moon to trade Bitcoin.

What is Bitcoin Mining?

Bitcoin mining is the process by which new transactions are verified and added to the public ledger, known as the blockchain, and by which new bitcoins are released into circulation. Miners are people or organizations who use powerful computer hardware to solve complex mathematical problems in order to validate transactions on the network. The process of mining requires a high level of computational power and uses significant amounts of energy.

When a block of transactions is successfully mined, the miner is rewarded with a certain number of bitcoins. This reward is halved roughly every four years, as mentioned in the previous answers, to control the rate at which new bitcoins are introduced into the market. The reward also incentivizes miners to continue to participate in the network and maintain its security.

Bitcoin mining is a critical component of the Bitcoin network and helps to ensure its security and stability by verifying transactions and preventing double spending. However, the energy-intensive nature of mining has raised concerns about its environmental impact, and there have been calls for more sustainable methods of verifying transactions on the network.

What is the Halving Process

The Bitcoin halving is a scheduled reduction in the reward for mining new blocks on the Bitcoin network. This occurs every 210,000 blocks, or roughly every four years, and the reward is halved. The purpose of the halving is to control the rate at which new bitcoins are introduced into the market and to eventually limit the total number of bitcoins that can be mined to 21 million. The most recent halving took place in May 2020, reducing the block reward from 12.5 bitcoins to 6.25 bitcoins per block.

The next Bitcoin halving is estimated to occur in 2024. The exact date of the halving cannot be predicted with certainty, as it is dependent on the speed at which new blocks are added to the blockchain. However, based on the current average block time of 10 minutes, the next halving is expected to occur in May 2024. At that time, the block reward will be reduced from 6.25 bitcoins to 3.125 bitcoins per block.