Since Bitcoin completed its fourth halving on April 20, it has been experiencing volatile market conditions for several weeks.
BTC stabilizes at $60,000 and enters the gold buying zone
Bitcoin halving events have historically been followed by significant price increases. After the 2012 halving, its value soared by an impressive 9,500%. After the 2016 halving, Bitcoin prices grew by 3,000% in the following year. The 2020 halving saw a more modest BTC price increase of 650%.
This time, Bitcoin experienced a 110% price increase amid huge fluctuations. A week before the halving, it fell from $73,000 to $60,000, a 17% drop. The shutdown price of mainstream Bitcoin mining machines is around $60,000, and BTC is likely to encounter strong support at $60,000.
Blockchain analysis platform Santiment analyzed that in response to the market decline in the past few days, Bitcoin whale took advantage of the "golden buying zone" to buy more Bitcoin on dips. On May 9, it posted on the social platform that as the price of BTC fluctuated between $61,000 and $64,000, addresses holding more than 1,000 BTC had some increase in holdings in the past 24 hours. Wallets with $1,000-10,000 BTC have accumulated a total of about $941 million worth of tokens, rebounding to the highest holding level in two weeks. This means that "large Bitcoin investors are still showing confidence despite the price drop to $62,000."
Arthur Hayes, co-founder of BitMEX, believes that the US tax season, concerns about the Fed's future policies, the implementation of the Bitcoin halving event, and the slowdown in the growth of US Bitcoin ETF asset management (AUM) have jointly produced a very necessary market cleanup in the first two weeks. The recent sharp sell-off provides an excellent opportunity to unlock USDe and spend synthetic dollars on high-beta shit coin. It will use the rest of May to increase its personal positions, and then hold the coins and wait for the market to recognize the inflationary nature of the recent US monetary policy announcement.
Negative Fees, High Rewards: Huobi HTX Trading Mining Improves Users’ BTC Trading Experience
All signs indicate that the current price range of Bitcoin is an excellent opportunity to buy on dips. To this end, Huobi HTX launched a trading mining activity, trading BTC at a negative rate while sharing huge rewards, in order to better meet user trading needs and improve trading experience.
Huobi HTX trading and mining activities include spot trading and contract trading. Users can participate in the activity by trading spot BTC/USDT trading pairs and perpetual contract BTC/USDT trading pairs, and share the $HTX prize pool of 100,000 USDT each day. Participating users need to have a rocket value ≥ 300 and successfully register on the activity page.
In addition to spot and contract trading at the same time, Huobi HTX trading mining also innovatively proposed a 7*24h reward mechanism. That is, the daily bonus pool rewards are equally divided into 24 time periods, and the rewards are updated every hour to ensure that users have equal opportunities to participate in different time periods. It should be noted that the daily hourly bonus pool rewards are first-come-first-served, and are determined according to the actual time when the registered user's trading order generates handling fees. Previous public information shows that Maker orders can enjoy a 110% reward ratio and Taker orders can enjoy a 105% reward ratio. The maximum daily reward for a single person in spot trading mining is 3,000USDT, and the maximum daily reward for a single person in contract trading mining is 5,000USDT.
Since Huobi HTX launched spot trading and mining, it has stood out from many platforms and financial tools, and has gained high market participation and praise. It is reported that in its recent special edition of contract trading and mining BTC halving, 100,000 USDT trading rewards were divided up in 10 minutes. In view of this, Huobi HTX trading and mining is a trustworthy investment and financial management tool.
