Bitcoin price rebounds, halving expectations help market rebound
After a difficult start at the beginning of this month, the price of Bitcoin is showing a strong recovery. With less than two weeks to go before the highly anticipated halving event, market sentiment continues to heat up. Bitcoin prices are gradually getting out of the doldrums and ushering in a new round of rising prices.
1. Bitcoin price climbs above $69,000
After a period of stability in early April, the price of Bitcoin successfully climbed above $69,000 on Thursday. The breakthrough of this important barrier highlights the market's strong expectations for the upcoming Bitcoin halving event. Investor confidence is gradually recovering and the market atmosphere is becoming increasingly active.
2. Bitcoin price reversed its downward trend with a 24-hour increase of 5%
The price of Bitcoin has increased by 5% in the past 24 hours, and the current price is firmly above $69,139. This increase has successfully reversed the previous three consecutive days of falling below $70,000, injecting new vitality into the market. Investors are optimistic about the future performance of Bitcoin and expect it to continue to rise.
3. Unveiling the Bitcoin halving: Miner rewards decrease, market supply tightens
Bitcoin halving is a highly anticipated network event that occurs every four years. It means that the BTC reward received by miners for successfully mining a new block will be reduced by half. This mechanism is designed to control market supply, curb inflation, and drive asset prices up. The occurrence of halving events is often accompanied by enthusiastic market pursuit and price increases.
4. Halving is approaching, Bitcoin price hits a record high
With the next halving event approaching (expected to occur on April 20), the price of Bitcoin has soared to an all-time high of $73,737 in March. Since then, the price has jumped several times within a month, showing a strong market trend. Previously, Bitcoin's all-time high was nearly $69,000 in November 2021.
5. The halving date has attracted market attention, and expectations are rising
In recent weeks, the expected date of the halving has become the focus of market attention. Because the event is associated with a specific network block, Bitcoin's activity and demand will determine how quickly the network reaches this critical point. Currently, the market generally expects the halving to occur around April 20, a date that is highly consistent with current prices and has attracted widespread attention in the market. Investors are closely watching the arrival of this important moment, expecting the market to usher in a greater explosion.
6. Bitcoin leads the rise, and the cryptocurrency market is all positive
The latest rise in Bitcoin has triggered a heated response in the entire cryptocurrency market. According to data, the overall market rose by 4% on the day. Ethereum (ETH) followed closely behind, rising nearly 4% to $3,415; Dogecoin (DOGE) was not to be outdone, rising 6% to $0.186; and Binance Coin (BNB) became the currency with the largest increase among the top 10 cryptocurrencies, rising 8% to $597. The overall market showed a strong upward trend.
7. Bitcoin-related cryptocurrencies lead the market in growth
Among the top 100 cryptocurrencies by market capitalization, the two currencies with the largest gains are also closely related to Bitcoin. Among them, ORDI, a BRC-20 token minted through the Bitcoin Ordinals protocol, achieved a nearly 15% increase on the day, and the current price is above $64; while Bitcoin Cash (forked from Bitcoin) also ushered in a gain of about 12% after this year's halving event, and the price climbed to $644. These cryptocurrencies related to Bitcoin are becoming popular investment options in the market.
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