Crypto Long & Short: Is Bitcoin More Like Gold or Equities?
Bitcoin markets have behaved a lot more like equities than gold during recent market swings. But widen the time frame and things start to look shinier.
Bitcoin and ether climbed modestly late Wednesday as lighter crypto derivatives volumes signaled uncharacteristic caution among the market’s traders.
Bitcoin Cash, the blockchain network that forked off Bitcoin in 2017, has just reduced its mining rewards by half, causing lots of miners to have nearly zero gross margin.
Bitcoin SV, the network that split off from the Bitcoin Cash blockchain in late 2018, has cut its miners’ block reward in half for the first time.
While some expect today's reward cut for BCH miners to belong-term bullish for prices, analysts suggest otherwise.
The event is a foreshadowing of the same process happening on a larger scale on the BTC blockchain next month.