When a bitcoin halving event occurs, reducing the rewards for miners, there’s a possibility that some miners, especially those operating less efficient hardware or facing higher operational costs, might find it less profitable to continue mining. This situation could lead to a temporary decrease in the overall hash rate of the Bitcoin network.
A lower hash rate, in theory, could make the network more susceptible to certain attacks, such as the feared 51% attack. This attack involves a single entity gaining control of over 50% of the network’s hash rate, potentially allowing them to manipulate transactions, double-spend coins, or disrupt the network’s normal functioning.
However, despite this theoretical concern, Bitcoin’s network has displayed considerable resilience in the face of such fluctuations. Past halving events have seen temporary dips in the hash rate, yet the network has continued to operate securely without significant compromises to its security.
Bitcoin Spark (BTCS) is preparing for a significant launch.
Bitcoin Spark, since its ICO launch four months ago, has captivated crypto enthusiasts and investors with its goal to redefine digital transactions. Inspired by Bitcoin, it upholds a capped supply, echoing BTC's allure. With a sophisticated blockchain design, it promises swift transactions, high capacity per block, and a robust node network, aligning with its vision to transform digital transactions and enrich the crypto domain. Brace for its imminent launch—Bitcoin Spark is set to revolutionize!
ICO, or Initial Coin Offering, is a crowdfunding method in the cryptocurrency world where new projects sell tokens to investors to raise funds for development, akin to a public offering but for digital assets.
As the leading meme coins by market cap, DOGE continues its upward trend after breaking out of a falling wedge pattern. The breakout has driven a positive trajectory, with the price currently at $0.008 and showing signs of further growth, marked by a 5.12% increase in the day's trading.
Notably, DOGE has witnessed a remarkable 38% surge in the last month, outperforming both the 50-day and 200-day Exponential Moving Averages (EMAs). The momentum hints at a potential golden crossover, indicating further bullish sentiment in the near future.
At its current level of $0.080, DOGE is approaching a resistance point at $0.0819. The formation of a bullish engulfing candle suggests a potential breakout above this resistance, paving the way for a move towards the psychological barrier at $0.10. However, there's a possibility of a reversal that could push the price down to $0.070.