Bitcoin halving likely this week: Here’s what to expect
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
The value of cryptocurrency market tumbled on Thursday evening, dragged by the Bitcoin (BTC), as the crypto king fails to break past the $35,500 resistance level. Similarly, the value of other top cryptocurrencies also slipped by few percentages.
Around 8.00 pm the cryptocurrency was trading at $33,373.34, down by -4.2 per cent with its market cap at $627,364,260,839
Similarly, Ethereum (ETH), Tether (USDT), and Binance coin (BNB) also slipped by 1.8 per cent, 0.2 per cent and 0.8 per cent respectively.
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Last week, the world’s largest cryptocurrency saw a marginal increase of 4.37% on a day, to $35,616.09 on June 29 on coinmarketcap.com Index.
Prior to that, Britain’s financial regulator said Binance could not conduct any regulated activity in the United Kingdom. The regulator also warned consumers about the platform and advertisements promising high returns on crypto-asset investments. Analysts believe that there could be more stringent regulations on cryptocurrencies across the world in the near future.
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