Top Cryptocurrencies to Consider Buying Now – April 19 and Bitcoin Halving

On Thursday, as cryptocurrency prices rallied, investors were on the lookout for smaller, less-known altcoins that could offer rapid returns. This surge comes after a strong defense of the $60,000 and $3,000 price levels for Bitcoin (BTC) and Ether (ETH), respectively.

Bitcoin and Ether, the two largest cryptocurrencies, were earlier at risk of falling below significant psychological thresholds. However, amidst macroeconomic and geopolitical challenges, Bitcoin has bounced back to around $64,000, and Ether to approximately $3,100.

Cryptocurrency Market Defies Downturn as Exuberance Wanes

Cryptocurrency prices often defy expectations, moving contrary to popular sentiment. According to Santiment, a research firm, the bull market may have concluded with Bitcoin’s 16% decline from its all-time high of $73,600 on March 14th. Concurrently, there’s an uptick in mentions of a bear market.

The retail trading market has seen a decrease in exuberance, as evidenced by the futures market. Coinglass.com reports that the funding rates for leveraged long Bitcoin positions have hit multi-month lows, and the open interest in futures has significantly dropped from recent peaks.

This calmer market could provide a solid base for Bitcoin’s price recovery, which might explain the unexpected strength of Thursday’s rally.

With many altcoins still below their recent peaks but the market recovering, there’s potential for swift gains.

Top Cryptocurrencies to Buy Now

Injective (INJ): The decentralized trading protocol Injective is picking up steam as the market recovers, eyeing a push toward the $30 resistance level. CoinMarketCap notes a 14% increase in the last 24 hours, with a market cap of $2.7 billion. The rising number of staked INJ tokens is a positive indicator for the protocol, suggesting room for significant growth.

Gala (GALA): The play-to-earn blockchain gaming platform Gala is bouncing back from its recent downturn. Currently at $0.04380, GALA has risen 12% in 24 hours and 30% from last week’s lows below $0.033. If GALA can surpass the $0.050 resistance, it could quickly return to early annual highs around $0.088.

Akash Network (AKT): The decentralized computing resource network Akash Network is looking to reverse its recent downward trend. Trading near $4.0, an 11% increase in the past day, AKT is still about 40% below its annual high of $6.50. A move above the 21-day moving average at $4.20 could signal a rise to the $5.0 resistance-turned-support level.

These altcoins present opportunities for rapid gains and are worth considering as potential investments.

Please remember, cryptocurrency investments carry risks and it’s important to do your research before investing.

Crypto Halving 2024: Bitcoin Takes Center Stage

The year 2024 marks a significant event in the world of cryptocurrency: the Bitcoin halving. This pre-programmed event cuts the reward for mining new Bitcoins in half, impacting the entire crypto market.

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How Long Until The Bitcoin Halving?

The Bitcoin halving is a critical event in the history of the cryptocurrency that happens roughly every 4 years. During this event, the reward for mining a block of Bitcoin is cut in half. This means fewer new Bitcoins are released into the market, which can potentially impact its price and total supply.⏳⛏️

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When is the Next Bitcoin Halving?

The next Bitcoin halving is estimated to occur around April 20th, 2024. This is when the block height is expected to reach 840,000.

How Can You Prepare for the Halving?

There are several things you can do to prepare for the Bitcoin halving:

Research and understand: It's important to understand what the halving is and how it might affect the price of Bitcoin.

Consider buying Bitcoin: If you believe the price of Bitcoin will increase after the halving, you might consider buying some before it happens.

Stay informed: Follow the latest news and analysis surrounding the Bitcoin Halving Count down.

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Additional Resources:

(You can remove these bracketed notes after replacing the links with text descriptions)

An explainer video on Bitcoin Halving: link to an explanatory video on YouTube

Binance Bitcoin Halving Event Page: link to Binance Bitcoin Halving event page

CoinGecko Bitcoin Halving Page: link to CoinGecko Bitcoin Halving page

The Bitcoin halving is an exciting event that can have a significant impact on the future of the cryptocurrency!

Remember, this information is not financial advice and you should always do your research before making any decisions.

What is a Halving?

A halving is a mechanism built into Bitcoin's code that reduces the block reward for miners by 50% roughly every four years. This directly impacts the rate at which new Bitcoins enter circulation.

Why Does Halving Matter Bitcoin Halving?

Halvings are significant because they create scarcity. With fewer new coins being produced, existing Bitcoins become, in theory, more valuable –  similar to how limited resources tend to hold higher value. Historically, Bitcoin prices have surged after halving events.

When is the 2024 Halving Expected?

Last updated April 19th, 2024. The exact date for Bitcoin's next halving is 22 hours and 140 blocks.

The Bitcoin block halving occurs approximately every 4 years but is not based on a specific date. Instead, it is linked to the number of blocks mined. Since the speed of mining new blocks can vary, the exact halving date may fluctuate slightly.

What are the Potential Impacts?

The impact of the 2024 halving is yet to be seen. Some experts predict a surge in Bitcoin prices due to the decrease in supply.  However,  others believe the market may have already priced in the halving event,  or that a price correction could even occur.

Beyond Bitcoin

While the Bitcoin halving is the most widely anticipated, other cryptocurrencies with similar halving mechanisms may also experience some degree of price movement.

Bitcoin Halving Countdown

As of today, April 19, 2024:

There are resources available online that provide a real-time Bitcoin Halving Count down. These countdowns track the number of blocks remaining until the halving is triggered.

Here are some popular options to find the Bitcoin halving countdown:

NiceHash Bitcoin Halving Countdown: https://www.nicehash.com/countdown/BTC

Watcher. guru Bitcoin Halving Countdown: https://twitter.com/WatcherGuru/status/1774148614261977432

CoinMarketCap Bitcoin Halving Event: https://coinmarketcap.com/currencies/block/

These websites update constantly, reflecting the ever-changing block height on the Bitcoin network.

Conclusion

The cryptocurrency market has displayed surprising resilience in recent weeks, bouncing back from a potential downturn. This presents a potential opportunity for investors seeking altcoins with room for growth. Injective (INJ), Gala (GALA), and Akash Network (AKT) are all examples of altcoins that have shown positive momentum and could experience significant gains shortly.

However, it's crucial to remember that cryptocurrency investments are inherently risky. Before making any investment decisions, thorough research is essential.

The upcoming Bitcoin halving in April 2024 adds another layer of intrigue to the cryptocurrency market. With the potential for scarcity-driven price increases, this event could significantly impact the future of Bitcoin and other cryptocurrencies.

We recommend staying informed by following reliable sources and leveraging the resources mentioned throughout this blog post. Remember, this information is not financial advice, and you should always conduct your own research before making any investments.