Crypto News Roundup (Bitcoin Halving Edition) (May 11, 2020)

As of May 11, 2020 (6:55 pm PH Time):

• Bitcoin is $8,791 (-0.02%)
• Ethereum is $188.91 (-0.98%)
• XRP is $0.195 (-1.95%)

We are less than 24 hours before the Bitcoin Halving. An event that cuts the supply of Bitcoin in half every 4 years. There will only be 32 Bitcoin halving events. Why? Because Bitcoin there will only be 21 million bitcoins. The last Bitcoin will be mined sometime in the year 2140.

Here are the most important articles related to Bitcoin halving that you should read:

• BitPinas: Bitcoin Halving Countdown – The what, why, how, and when. Plus we looked at the reaction of the market pre and post-halving.
• Cointelegraph: Bitcoin Halving, Explained
• What is Bitcoin Halving: Explain Like I’m 5 Years Old

Philippines: Where to Buy Bitcoin:

Unlike the previous Bitcoin halving, there are more ways to buy Bitcoin now in the Philippines. Check out the following places:

1. Coins.ph – Crypto and Mobile Wallet App.
2. PDAX: Philippine Digital Asset Exchange
   1. You can buy PDAX BTC vouchers at Shopee!
3. BuyBitcoin.ph
4. Bloom Bitcoin OTC Locations and Partners
5. Moneybees
6. Anyone from this list of licensed virtual currency exchanges

At BitPinas, we wrote the following articles to help:

1. Complete Guide to Buy Bitcoin in the Philippines
2. 16+ places to purchase crypto in the Philippines

After you have your Bitcoin, you can sell it:

1. Where to cash out Bitcoin in the Philippines

Or you can keep those bitcoins:

1. Bitcoin Wallet Philippines
2. Cryptocurrency Wallet List

BEWARE OF SCAMS

A typical scam is when someone asks you to give them BTC in exchange for more BTC. This is a scam. Period. They will not return the BTC you gave them.

Isa sa mga sikat na scam ay kapag may isang nag-aalok na bigyan mo sila ng BTC kapalit ng mas madaming BTC. Ito ay SCAM.

Here are crypto scams flagged by the Philippine Securities and Exchange Commission.

News Roundup

Here’s some news you might like to read today:

Bitcoin Dominance Is Making Investors Rich, Thanks to Crypto Hedge Funds

National economies are sinking into a recession but the bitcoin economy remains healthy and is still growing throughout the coronavirus crisis, even surging to $10,000 on May 7. (by Leigh Cuen)

3 Reasons for the Bitcoin Price ‘Halving Dump’ From $10K to $8.1K

These are the factors according to Joseph Young from Cointelegraph:

1. $10,200 – $10,500 is a multi-year strong resistance area.
2. Whales quickly sold BTC at the point of rejection.
3. Massive volatility ahead of halving.

Average BTC Transaction Fees Increased 300% Days Before Halving

The average transaction fee for Bitcoin peaked at $3.19 on May 8, an increase of over 300% from the average fee of $0.62 on April 26. (By Turner Wright).

Bitcoin Miners Sell BTC Months After Halving, On-Chain Data Suggests

On-chain data suggests that a strong selloff may not necessarily follow the upcoming Bitcoin halving. (By Antonio Madeira)