As I had a ruff week, I did not had time to bring the weekly Macro-to-crypto and as most of charts have changed, let's focus on BTC Halving, Miners and Hash dynamics!

This week we'll see a drop in rewards/inflation by half and probably many miners will start turning off unprofitable machines, meaning in a Drop of the Hashrate and it will ignite an old indicator called Hash Ribbons!

What are Hash Ribbons ?
The Hash Ribbon works with 30 and 60 SMAs (simple medium average). So the Short SMA will fall and the longer one will touch it in about 30 to 70 days, as shown below or HERE.

Miners Selling
Another Play, that is stronger in the Bearmarket, goes along with Hash Ribbons, are the Selling pressure from Miners (to acquire new equipment).
Overall, we can see in the Cryptoquant Chart that the Miners Reserves (blue line) drops to 2021's lows, as Miners selling about 30 Thousand BTC since october, but they still doubled their revenue to an aggregate of U$ 130 Billion dollars.

Halving - a 365 Day Before and AfterComparison
Below or HERE , we observe that the price of Bitcoin generally brings higher returns 365 days after the halving compared to the 365 days prior to the halving. That is to say, despite the 113% increase, what typically follows will have a greater impact on the asset's price, pushing the price of the asset to levels above one hundred thousand dollars per unit.

Bitcoin

As I had a ruff week, I did not had time to bring the weekly *Macro-to-crypto* and as most of charts have changed, let's focus on **BTC Halving, Miners and Hash dynamics!**

This week we'll see a drop in rewards/inflation by half and probably many miners will start turning off unprofitable machines, meaning in a Drop of the Hashrate and it will ignite an old indicator called *Hash Ribbons*!

# What are Hash Ribbons ?
The Hash Ribbon works with 30 and 60 SMAs (simple medium average). So the Short SMA will fall and the longer one will touch it in about 30 to 70 days, as shown below or [HERE](https://www.tradingview.com/x/uC83TsZN/).

# Miners Selling
Another Play, that is stronger in the Bearmarket, goes along with Hash Ribbons, are the Selling pressure from Miners (to acquire new equipment).
Overall, we can see in the Cryptoquant Chart that the Miners Reserves (blue line) drops to 2021's lows, as Miners selling about 30 Thousand BTC since october, but they still doubled their revenue to an aggregate of U$ 130 Billion dollars.

# Halving - a 365 Day Before and AfterComparison
Below or [HERE](https://www.cmegroup.com/content/dam/cmegroup/articles/images/2024/q1/bitcoin-halving-2024-why-this-time-its-different-img2.jpg) , we observe that the price of Bitcoin generally brings higher returns 365 days after the halving compared to the 365 days prior to the halving. That is to say, despite the 113% increase, what typically follows will have a greater impact on the asset's price, pushing the price of the asset to levels above one hundred thousand dollars per unit.

Taiamã Demaman

Over One Million Wallets Now Hold at Least 1 Bitcoin.

The 'King of Crypto' (yes, I'm talking about Bitcoin, not Ethereum, and definitely not Dogecoin... sorry, Elon) just hit a major on-chain milestone!

According to Glassnode, over one million wallet addresses are now hoarding at least 1 whole Bitcoin. This bullish sentiment is like an energy drink for the crypto market because we all know the 'Alt coins' party doesn’t start until Bitcoin walks in.

This impressive rally was undoubtedly stoked by the FTX collapse, followed by the 'not your keys, not your tokens' craze, which swept through the crypto world as only bad FUD can.

According to Glassnode, the number of wallets with 1 or more BTC has swelled by 20% since February 2022. Remember, this was during one of the coldest crypto winters we've ever shivered through. Impressive!

Another interesting fact, according to Glassnode, is that the new kid on the block, BRC-20 (which made its grand entrance in March 2023), has not had much of an impact. Only 30,000 new wallets clutching one Bitcoin were added since the BRC-20 token standard's grand debut.

Let us raise our glasses…

Here is to the ever-surprising King Bitcoin.

Long Live the King!

Over One Million Wallets Now Hold at Least 1 Bitcoin.

The 'King of Crypto' (yes, I'm talking about Bitcoin, not Ethereum, and definitely not Dogecoin... sorry, Elon) just hit a major on-chain milestone!

According to Glassnode, over one million wallet addresses are now hoarding at least 1 whole Bitcoin. This bullish sentiment is like an energy drink for the crypto market because we all know the 'Alt coins' party doesn’t start until Bitcoin walks in.

This impressive rally was undoubtedly stoked by the FTX collapse, followed by the 'not your keys, not your tokens' craze, which swept through the crypto world as only bad FUD can. 

According to Glassnode, the number of wallets with 1 or more BTC has swelled by 20% since February 2022. Remember, this was during one of the coldest crypto winters we've ever shivered through. Impressive!

Another interesting fact, according to Glassnode, is that the new kid on the block, BRC-20 (which made its grand entrance in March 2023), has not had much of an impact. Only 30,000 new wallets clutching one Bitcoin were added since the BRC-20 token standard's grand debut.

Let us raise our glasses… 

Here is to the ever-surprising King Bitcoin. 

Long Live the King!

D3Young

Bitcoin Halving 2024: What to Expect?
As we approach the anticipated Bitcoin halving in April 2024, investors and enthusiasts like me (and probably you too) are pondering the potential impact on the world's leading cryptocurrency. Bitcoin halving is a critical process designed to manage the currency's scarcity and value, a unique mechanism that distinguishes it from traditional fiat currencies. In this article, I'll delve into the Bitcoin halving happening, its previous and current performance, and what we (possibly) can anticipate in 2024.

Understanding Bitcoin, Mining, and Halving
Bitcoin, created in 2009 by an entity or individual known as Satoshi Nakamoto, operates on a decentralized computer network with a capped supply of 21 million coins, acquired through the mining process. Mining involves using computer power to solve complex mathematical puzzles and validate transactions on the Bitcoin network.

Newly mined bitcoins serve as rewards for miners, but the number of bitcoins per block varies. Every 210,000 blocks, roughly every four years, the rewards undergo a halving, reducing miner rewards by 50%. This process is vital for maintaining the scarcity and value of Bitcoin while controlling the inflation rate.

The Countdown to Bitcoin Halving 2024
The upcoming Bitcoin halving is set to occur when the number of blocks reaches 840,000 in April 2024. At that point, the reward per block will decrease from 6.25 to 3.125 BTC. This marks the fourth halving event in Bitcoin's history, following occurrences in 2012, 2016, and 2020.

Profitability and Investment Opportunities
Investors eyeing Bitcoin halving often anticipate a surge in value. Historical data suggests that, on average, Bitcoin starts rising approximately six months before the halving and experiences significant growth in the year following the event. Examining the past three halving cycles reveals impressive increases: around 30,000% in 2012, 786% in 2016, and 712% in 2020. I can't look into the future, but it most likely will gain a lot again, seeing the previous performance.

Short-Term Focus and Potential Challenges
For traders, focusing on shorter timeframes is crucial. Historical data indicates significant price surges shortly after halving events, such as a 928% increase 150 days after the first halving. However, it's essential to consider potential challenges, including factors like significant hacks, bankruptcies of crypto companies, stock market conditions, whale manipulation, or regulatory changes, which may impact the effectiveness of future halving events.

In conclusion, while past performance doesn't guarantee future results, understanding the dynamics of Bitcoin halving can provide valuable insights for investors navigating the ever-evolving landscape of digital assets. And as the bigger alt tokens/coins out there usually benefit greatly from BTC pumps (same as it is dropping hard if BTC falls), exciting times are ahead!

Sources: many, including my own research.

**Bitcoin Halving 2024: What to Expect?**
As we approach the anticipated Bitcoin halving in April 2024, investors and enthusiasts like me (and probably you too) are pondering the potential impact on the world's leading cryptocurrency. Bitcoin halving is a critical process designed to manage the currency's scarcity and value, a unique mechanism that distinguishes it from traditional fiat currencies. In this article, I'll delve into the Bitcoin halving happening, its previous and current performance, and what we (possibly) can anticipate in 2024.

**Understanding Bitcoin, Mining, and Halving**
Bitcoin, created in 2009 by an entity or individual known as Satoshi Nakamoto, operates on a decentralized computer network with a capped supply of 21 million coins, acquired through the mining process. Mining involves using computer power to solve complex mathematical puzzles and validate transactions on the Bitcoin network.

Newly mined bitcoins serve as rewards for miners, but the number of bitcoins per block varies. Every 210,000 blocks, roughly every four years, the rewards undergo a halving, reducing miner rewards by 50%. This process is vital for maintaining the scarcity and value of Bitcoin while controlling the inflation rate.

**The Countdown to Bitcoin Halving 2024**
The upcoming Bitcoin halving is set to occur when the number of blocks reaches 840,000 in April 2024. At that point, the reward per block will decrease from 6.25 to 3.125 BTC. This marks the fourth halving event in Bitcoin's history, following occurrences in 2012, 2016, and 2020.

**Profitability and Investment Opportunities**
Investors eyeing Bitcoin halving often anticipate a surge in value. Historical data suggests that, on average, Bitcoin starts rising approximately six months before the halving and experiences significant growth in the year following the event. Examining the past three halving cycles reveals impressive increases: around 30,000% in 2012, 786% in 2016, and 712% in 2020. I can't look into the future, but it most likely will gain a lot again, seeing the previous performance.

**Short-Term Focus and Potential Challenges**
For traders, focusing on shorter timeframes is crucial. Historical data indicates significant price surges shortly after halving events, such as a 928% increase 150 days after the first halving. However, it's essential to consider potential challenges, including factors like significant hacks, bankruptcies of crypto companies, stock market conditions, whale manipulation, or regulatory changes, which may impact the effectiveness of future halving events.

In conclusion, while past performance doesn't guarantee future results, understanding the dynamics of Bitcoin halving can provide valuable insights for investors navigating the ever-evolving landscape of digital assets. And as the bigger alt tokens/coins out there usually benefit greatly from BTC pumps (same as it is dropping hard if BTC falls), exciting times are ahead!

Sources: many, including my own research.

Jeroen

So, the price drop. I had this question a couple of times now and was wondering if it's still because of Grayscale selling. In short, it is.

After their little talk with the SEC, Grayscale got an agreement on a ETF. The FTX bankruptcy estate has sold $1 billion worth of shares from Grayscale's Bitcoin Trust, causing significant outflows from the fund since its conversion to an ETF. The sale by FTX accounts for a large portion of the $2 billion in outflows from GBTC after its conversion. Grayscale's ETF fees are highlighted as a factor contributing to the outflows, as they are higher than those of competitors. The article also mentions the broader context of the growing fee war among cryptocurrency funds and the competition in the ETF space.

Yesterday (23rd of January 2024), the 3rd wave happened, which made BTC drop to from $41.6 to $38.5k, with a quick recovery to $40.5k. 12 hours later it's holding now around $39.5k.

So, only up from here?:)

So, the price drop. I had this question a couple of times now and was wondering if it's still because of Grayscale selling. In short, it is.

After their little talk with the SEC, Grayscale got an agreement on a [ETF](https://www.grayscale.com/etfs/etf-resources/grayscale-investments-receives-sec-approval). The FTX bankruptcy estate has sold $1 billion worth of shares from Grayscale's Bitcoin Trust, causing significant outflows from the fund since its conversion to an ETF. The sale by FTX accounts for a large portion of the $2 billion in outflows from GBTC after its conversion. Grayscale's ETF fees are highlighted as a factor contributing to the outflows, as they are higher than those of competitors. The article also mentions the broader context of the growing fee war among cryptocurrency funds and the competition in the ETF space.

Yesterday (23rd of January 2024), the 3rd wave happened, which made BTC drop to from $41.6 to $38.5k, with a quick recovery to $40.5k. 12 hours later it's holding now around $39.5k.

So, only up from here?:)

Bitcoin

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