Tag Archive : Price

COVID-19 Could Neutralize Post Bitcoin halving Price dump

Some cryptocurrency experts have speculated that the market crash brought about by the COVID-19 global pandemic could actually reduce the risk of BTC price dump post the Bitcoin halving. 

In a webinar discussion among top crypto experts, Chris Bendikson, Head of Research at CoinShares expressed his opinion about the possible crypto scenario post Bitcoin halving.

He believes that miners have already prepared themselves for the halving following the price crash in March. As a result of which there will not be much of an impact on their profitability, and the situation has compelled miners with backdated equipment to either drop out or upgrade.

Chris Bendikson thinks that there could be a slight volatility post the halving for a few months, but post that, the mining industry will find itself in a strong position with a low-cost base. 

He went on to add, “What that means is that miners are likely to not have to sell as high of a proportion of their mined coins as before the halving and the actual halving, when you add that to this, means that we’re potentially about to see a midterm bullish virtuous cycle in the making.”

Importance of Bitcoin Explained

Alex Laughton-Scott, Associate Director of CoinShares, on the other hands seemed pretty optimistic about Bitcoin. He opined that this is a perfect time for the world to understand and acknowledge the importance of Bitcoin, its uses, and its benefits.

He said that the post-COVID-19 Bitxoiun scenario could be a really bright one, and this period when the world is under a lockdown could well serve as a ‘brewing period’. 

Scott stressed on the fact that, amid any sort of crisis, ‘all correlations go to 1’. He explained that the price dump in March was further enhanced by stop losses and automated trades, apart from the low market cap, which eventually led to high volatility.

However, he is also optimistic about the fact that these correlations will eventually drop, and as they do, the institution will realize how crypto can fetch massive benefits during crises. 

William Hill share price up 64% in a week as gaming stocks rise

Share prices have seen much volatility in the gaming sector since the coronavirus pandemic took hold.

Despite a general downward trend, Gambling Insider reported online gaming companies saw some resurgence in late March.

It has been another fruitful week for stock prices within the sector, with several firms seeing double-digit growth.

Perhaps the most notable example is William Hill, which has seen its share value rise 64% in seven days – at the time of writing sitting at £1.05 ($1.31).

This is still only just over half of its pre-COVID-19 share price but shows a positive response, perhaps to the growth of online casino and the stabilising cost-cutting measures implemented by the company.

GVC Holdings is also up 49% in the last seven days, to £6.68, while Flutter Entertainment has recorded a slightly more modest improvement of 9% to £75.94.

Elsewhere, Kambi’s share price is the highest it has been in a month, at 114.90 SEK ($11.53) having grown 25% in the past seven days.

The supplier is another company to have updated investors with cost-cutting measures this week.