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Miners will start to switch off after the halving, and Bitstamp plans to expand its listing Some miners will stop working after the halving States a report by an analytic company Coin Metrics. Despite the fact that Bitcoin price has recovered to the level of $6,300, for many miners the breakeven point is higher than that. “We expect miners to follow a cycle of decreased profit margins, increased selling, capitulation, and a culling of the least efficient miners from the network. Once this cycle is complete, the miner industry should return to a healthier state that is supportive of future price increases,” the analysts say, Last week, Bitcoin mining complexity fell by a record 16%, according to BTC.com forecasts, after the next eight-day cycle, it will decrease by another 12%. This will also reduce the profitability of mining for inefficient equipment, according to Coin Metrics. Bitstamp may launch trading Ethereum Classic, Zcash and Stellar Bitstamp, one of the first European cryptocurrency exchanges, is considering listing Ethereum Classic (ETC), Stellar Lumens (XLM), Zcash (ZEC), Basic Attention Token (BAT), Paxos Standard (PAX), USD Coin (USDC) and 0x (ZRX). The platform’s specialists will thoroughly study the technical characteristics of these cryptocurrencies, as well as their compliance with the security requirements of the exchange and the legislation of some countries. It is worth noting that Bitstamp is extremely cautious about listing coins. Currently, only five crypto assets are traded on the platform: Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash. Cryptocurrency trading volume on exchanges increased by 60% Trade turnover at 22 popular crypto platforms grew by 61% in Q1 of 2020, according to the report of The Block media. In the last quarter of 2019, the figure was $96 billion, and currently, it has increased to $154 billion — almost the same level as in Q3 of last year. The volume of transactions in the Bitcoin network increased by 11% to $ 178 billion, while the amount of commissions remained virtually unchanged at $20.12 million. The average BTC block size has slightly increased: from 1.14 MB to 1.17 MB. In January, the share of SegWit transfers exceeded 70%, and the number of public Lightning channels increased by 3%.

Cash turnover hits record high in the U.S. and altcoins mentions on Twitter drop to a minimum USD banknote turnover hits a 20-year high From March 11 to March 18, the turnover of cash dollars in the United States increased by $34 billion, shooting up from $1.809 trillion to $1.843 trillion. This is the largest growth in the last 20 years, economist John Paul Coning points out: the U.S. citizens are withdrawing money from banks amid the coronavirus epidemic. Last time a similar situation was observed in 1999 when people were afraid of digital devices failure due to the "Y2K bug" It is noteworthy that the current increase in cash circulation is happening despite the WHO recommendations to avoid contact with banknotes, as COVID-19 can be distributed through them. Twitter's altcoin mentions drop to a minimum Twitter users now write about main altcoins less often - the number of mentions per day has dropped to a three-year low. The number of posts about XRP has decreased by 60% in two months to 2,542. Ethereum was talked about slightly less — the number of tweets with the hashtag #ETH fell to 2,500, which has become the lowest engagement level since February 2017. For comparison: in December 2017, when the altcoin set a maximum price, the number of tweets about it exceeded 51,000. Bitcoin’s “little brother” LTC has been completely forgotten —Twitter users mentioned the coin only 350 times a day. The popularity of BTC, on the contrary, has grown, its mentions have doubled since the end of January. Small miners shutting off will help the price of bitcoin Blockware CEO Matt D’Souza said. He analyzed the periods of decline of the network’s hash rate and noted that they were followed by a prolonged increase of cryptocurrency price. In his opinion, now the situation may be repeated. At the moment, the computing power of the BTC blockchain has dropped to 93 EH/s. In mid-March, when the bitcoin exchange rate sank below $4,000, small miners were forced to turn off the equipment, which led to a sharp drop in the hash rate and the difficulty of mining cryptocurrency. Matt D’Souza notes that this will benefit the price of bitcoin, as private miners quickly sold their coins to not work at a loss.

The U.S. Federal Reserve says they have “infinite amount of cash” — what’s the impact on bitcoin? Why BTC will drop to $5,000 A “death cross" formed on the BTC price, a top-down intersection of 50-day and 200-day Moving Average. This will lead to a price drop down to $5,000, Coindesk analyst Omkar Godbole thinks. However, the drop will not happen immediately: for example, in the spring of 2018 the “cross”, bitcoin price first went up by 50% in a month, and then declined by 70% within six months. The scenario will be cancelled if BTC can consolidate above $6,460, the analyst writes. Godbole also notes that similar crosses are forming on the Dow Jones Industrial Average and S&P 500 industrial charts. Peter Brandt: Bitcoin price will drop by 50% Well-known trader Peter Brandt believes that BTC will drop below $3,000. Responding to a comment on Twitter, Brandt posted a chart with a “descending flag” figure - if implemented, the price will go to the level of $2,700. The trader also indicated that having declined below $7,500, bitcoin price broke the long-term support line and moved into a downtrend. Earlier, the analyst said that bitcoin will drop to zero after breaking this level. Opinion: cryptocurrency will benefit from the crisis Unlimited amount of U.S. dollars will positively affect bitcoin, trader Joseph Young believes. “Fed printing unlimited money to pump markets = good for bitcoin Devaluation of dollar over the long term = good for bitcoin Short-term may be gloomy for bitcoin, but long-term prospect of it remains very bright,” Young tweeted. A similar opinion is shared by Stack analyst Lennard Neo. He expects an influx of capital into cryptocurrencies due to the uncertainty central banks and governments actions amid the crisis. CEO of Titus Investment Advisors Justin Gillespie notes that quarantine will strengthen the position of cryptocurrency. According to him, “The longer the people can’t go outside to conduct their business, the more useful the cryptocurrency should become as it can be sent and received from the safety of one’s home."

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