Tag Archive : closer

Bitcoin is striking back as halving inches closer

Bitcoin is well on its way to regaining its lost dominance in the crypto market while challenging major altcoins as the big halving day approaches.  

After a quiet few weeks, Bitcoin is making its way up again and challenging altcoin dominance. According to a chart published by Messari researcher Ryan Watkins, ‘Bitcoin is well on its way to achieving the same market dominance that it did during the 2017 bull run.’ This essentially means that Bitcoin’s total share in the crypto market is on the rise yet again, thus silencing all its critics. Hence, investors and enthusiasts are likely to be more interested in placing their bets on BTC as opposed to other cryptocurrencies.

This comes after the tragic 2018 price crash, which prompted traders to move into altcoins, hoping to neutralize the risks associated with a bearish BTC trend. However, even amid the existing global pandemic and a pathetic economic scenario, Bitcoin seems to be making its way back into dominance. Interestingly, a crypto analytics firm, Messari also noted that the public interest in Bitcoin is also at an all-time high, similar to when BTC was close to its maximum ever price range. Recently, Google also reported that search queries with the word ‘Bitcoin’ in the last week of March were the highest ever that it ever received. 

This uptrend comes weeks before the much-awaited Bitcoin halving scheduled on May 12th. There is no ignoring the fact that, post 12th May, BTC’s inflation rate will be reduced by 50%, as mining rewards will be cut into half, and supply will also slow down. However, what this could essentially trigger is a bull run, as the demands will try to cope up with the reduced supply. 

Whatever be it, it is fair to say that the focus has now shifted from altcoins to Bitcoin, and the crypto community is eagerly awaiting the halving event. Let’s see how the BTC market reacts. We will keep you posted. 

Sports betting at Washington’s tribal casinos moves step closer

Sports betting in Washington has taken one more step towards being legalised at tribal casinos, after a bill was passed by the Senate Labor and Commerce Committee.

House Bill 2638 now moves forward to the Senate Ways and Means Committee for further debate and, if passed, will allow in-person and on-premises mobile sports betting at 29 tribal casinos within the state.

Players would be able to place bets on professional and college sports, international competitions and esports events.

Wagers will only be accepted while players are physically at the tribal casino.

The bill also states that, upon request of Indian tribes, each class III gaming compact may be amended to authorise sports betting, providing it includes licensing fees and details on how it will be operated and regulated.

Should the bill pass, The Washington State Gambling Commission would be responsible for regulation and awarding relevant licenses to operators.

Last week, the bill passed through The Washington House of Representatives, by a vote of 83-14.

Currently, all gambling on the internet is illegal in the state, while the only type of sports betting that is legal relates to sports pools.