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Bitcoin’s recent mining rewards halving event was long looked upon as a catalyst for the cryptocurrency to see further strength – from both a fundamental and technical perspective.
If you were to ask a Bitcoin investor what makes the cryptocurrency valuable, they would likely say something about the cryptocurrency’s block reward “halvings.” Every four years, the number of BTC issued per block gets cut in half, resulting in an effective 50 percent reduction in the inflation rate of the cryptocurrency.
Just over two weeks ago, Bitcoin experienced its third block reward reduction.
It’s been an expensive past three weeks for Bitcoin users.
On March 12, 2020, during the infamous “Black Thursday,” the price of Bitcoin (BTC) dropped to as low as $3,600 across major exchanges.
The now-concluded Bitcoin halving marked a significant step in the pioneer cryptocurrency’s evolution, that of reducing block rewards to miners to maintain its premise as a deflationary currency.
Bitcoin’s now-concluded halving was the talk of the town in 2020.
Crypto exchange Coinbase can’t seem to catch a break.
Bitcoin’s halving is finally here.
Bitcoin’s intense strength seen throughout the past several days and weeks showed some signs of degrading today.
Although Bitcoin’s market capitalization is still extremely small compared to that of other assets, like the dollar or Apple, the cryptocurrency is rapidly gaining traction with mainstream investors.
The Bitcoin (BTC) price reached as high as $10,060 on Coinbase, rising by more than 160 percent in 56 days.
Bitcoin’s seeing increased retail interest ahead of its upcoming halving event on May 12, if Google’s search trends are considered.
The crypto market lost $14 billion overnight as the Bitcoin price dropped from $9,200 to $8,600 by more than 6.5 percent.
To most, Bitcoin’s rally from literal irrelevance to becoming one of the most valuable assets in the world is hard to explain.
Both Bitcoin and Ethereum have seen stellar performances from their 2020 lows, both gaining 140 percent since the “Black Thursday” crash seen on March 12 and 13.
Thomas Thornton, the head of Hedge Fund Telemetry, has made the headlines for his accurate predictions regarding the direction of Bitcoin’s trend.
Cryptocurrency payment platform Crypto dot com announced the launch of a special Bitcoin halving offer set to take place on 06:00 UTC, May 12.