This week the first halving occurred in the Bitcoin Cash network, a cryptocurrency born after a Bitcoin fork in 2017. Block 630,000 of this chain was mined at 8:19 in the morning (-4: 00 UTC) on 8 April 2020. Bitcoin Cash hash rate after this first halving did not experience declines but profitability plummeted.
Meanwhile, the main cryptocurrency registered an average growth of 5.27%. Although there was a drop of around 8% between April 9 and 10, an event that coincided with the Fed's announcements of the injection of USD 2.3 trillion into the US economy. USA At the time of writing this article, BTC is quoted at USD 6,970, as reflected in the market price in Latin America and Spain.
These are the most outstanding news:
After its first halving, the Bitcoin Cash network was stable, although, initially, there was some uncertainty among the bitcoiner community, since block 630.001 took almost two hours to be mined. But, by analyzing the statistics of Bitcoin, Bitcoin Cash, and Bitcoin SV, according to Coin Dance, it became apparent that it was 80% more profitable to mine BTC, compared to BCH. In this way, the costs of a hypothetical 51% attack against both networks decreased considerably. In both cases, it would be possible with less than USD 13,000.
The correlation between the behavior of bitcoin and gold in the market has reached an all-time high. In recent days, the correlation between the two assets rose for the first time from 0.6 on the "Return Rolling Correlation" metric, as reflected in the latest report by analyst firm Coin Metrics, published on Tuesday, April 7.
On Wednesday, April 1, the news portal G1 reported that the Brazilian Tax Agency decided to postpone the term to declare Income Tax, initially scheduled for April 30, until June 30. It is an excellent opportunity for those who have not yet declared their movements with bitcoin and other cryptocurrencies, and can now study more on the subject.
Since March 20, a mandatory quarantine has been decreed throughout Argentina to prevent the spread of the COVID-19 virus throughout the country. However, in recent days several cryptocurrency ATMs stopped working because they are installed in closed premises. Due to this, the company Athena Bitcoin has decided to keep active seven ATMs located in the cities of Buenos Aires and La Plata
Bitcoin enthusiasts from Colombia and Peru can now acquire up to six different types of cryptocurrencies with Visa-branded credit and debit cards, the exchange house Binance announced this Friday, April 10. The startup reported that it enabled this service for the two Latin American countries and also for operators in South Korea, in Asia; Kenya in Africa; and Kazakhstan in Central Asia.
As the late movements shows, the 6000$ mark seems long vanquish now. Can we expect to break the 12K soon? Ah we wonder