Bitcoin Hardens, Fiat Eases: 4 Things to Watch for BTC Price This Week sell bitcoin to paypal without registration As the Federal Reserve admits to “flooding” the market with cash, Bitcoin consolidates its post-halving position at $9,500. The start of a new week has seen Bitcoin fall back from closer to $10,000 to around $9,500, historically a focal price point.
Post halving, the Bitcoin network hash rate has continued to dip as mining rewards halve. Accordingly, network difficulty is now also due for a decrease, this time by around 3% on Tuesday.
The $9,500 zone means Bitcoin is starting the week by filling a gap that opened up between two weekly trading sessions of CME Group’s Bitcoin futures.
As noted by Cointelegraph Markets earlier on Monday, the “gap” — the difference in price at the end of one trading session and the start of another — is currently between $9,440 and $9,660.
Bitcoin has a tendency to fill such “gaps” with price movements. Last week, a giant gap was filled over several days.
The true extent of fiat economy chaos continues to come to light, something which has increasingly contrasted with Bitcoin’s fortunes since the market crash in March.
On Sunday, CBS News aired an interview with Jerome Powell, chairman of the United States Federal Reserve, in which he openly admitted that the central bank “flooded the system with money.”
“Yes. We did. That's another way to think about it. We did exchane bitcoin to paypal” he said.
Asked where the trillions of dollars came from, in addition to bond purchases