Major cryptocurrencies experienced a slight surge on Sunday evening, as apex cryptocurrency edges closer to the highly anticipated Bitcoin Halving.
Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)
Bitcoin (CRYPTO: BTC)
+0.07%
$69,421
Ethereum (CRYPTO: ETH)
+1.04%
$3,422
Dogecoin (CRYPTO: DOGE)
+1.23%
$0.19
What Happened: According to cryptocurrency exchange Coinbase, many crypto traders are looking at the Bitcoin halving event as a key factor that could lead to a potential price spike.
However, Coinbase points out that the time of year could pose an obstacle. In its April 5 market commentary report, Coinbase further explained that the crypto market will need to identify another storyline to continue driving prices up across the board.
“The BTC halving, currently due April 20 or 21, could be a catalyst for higher prices, but it will have to contend with what is typically a weak time of year for crypto markets and other risk assets,” the exchange stated.
The occurrence of halving events has often been linked to increases in the price of Bitcoin. After the last halving event in May 2020, the price of Bitcoin experienced a surge. Commencing at $8,787 during the halving, the cryptocurrency experienced a rally, eventually reaching nearly $69,000 in November 2021.
The halving event, where the rate at which bitcoins are generated by the network roughly every ten minutes is cut in half, usually takes place after 210,000 bitcoins are mined, which occurs roughly every four years. …
Full story available on Benzinga.com
Major cryptocurrencies experienced a slight surge on Sunday evening, as apex cryptocurrency edges closer to the highly anticipated Bitcoin Halving.
Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)
Bitcoin (CRYPTO: BTC)
+0.07%
$69,421
Ethereum (CRYPTO: ETH)
+1.04%
$3,422
Dogecoin (CRYPTO: DOGE)
+1.23%
$0.19
What Happened: According to cryptocurrency exchange Coinbase, many crypto traders are looking at the Bitcoin halving event as a key factor that could lead to a potential price spike.
However, Coinbase points out that the time of year could pose an obstacle. In its April 5 market commentary report, Coinbase further explained that the crypto market will need to identify another storyline to continue driving prices up across the board.
“The BTC halving, currently due April 20 or 21, could be a catalyst for higher prices, but it will have to contend with what is typically a weak time of year for crypto markets and other risk assets,” the exchange stated.
The occurrence of halving events has often been linked to increases in the price of Bitcoin. After the last halving event in May 2020, the price of Bitcoin experienced a surge. Commencing at $8,787 during the halving, the cryptocurrency experienced a rally, eventually reaching nearly $69,000 in November 2021.
The halving event, where the rate at which bitcoins are generated by the network roughly every ten minutes is cut in half, usually takes place after 210,000 bitcoins are mined, which occurs roughly every four years. …
Full story available on Benzinga.com
Major cryptocurrencies experienced a slight surge on Sunday evening, as apex cryptocurrency edges closer to the highly anticipated Bitcoin Halving.
Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)
Bitcoin (CRYPTO: BTC)
+0.07%
$69,421
Ethereum (CRYPTO: ETH)
+1.04%
$3,422
Dogecoin (CRYPTO: DOGE)
+1.23%
$0.19
What Happened: According to cryptocurrency exchange Coinbase, many crypto traders are looking at the Bitcoin halving event as a key factor that could lead to a potential price spike.
However, Coinbase points out that the time of year could pose an obstacle. In its April 5 market commentary report, Coinbase further explained that the crypto market will need to identify another storyline to continue driving prices up across the board.
“The BTC halving, currently due April 20 or 21, could be a catalyst for higher prices, but it will have to contend with what is typically a weak time of year for crypto markets and other risk assets,” the exchange stated.
The occurrence of halving events has often been linked to increases in the price of Bitcoin. After the last halving event in May 2020, the price of Bitcoin experienced a surge. Commencing at $8,787 during the halving, the cryptocurrency experienced a rally, eventually reaching nearly $69,000 in November 2021.
The halving event, where the rate at which bitcoins are generated by the network roughly every ten minutes is cut in half, usually takes place after 210,000 bitcoins are mined, which occurs roughly every four years. …Full story available on Benzinga.com Read More$BTC, $CKB, $DOGE, $ETH, $ORDI, Bitcoin, BTC, Cryptocurrency, dogecoin, Ethereum, News, Top Stories, Markets, Movers, BTC, US2036121067, $ETH, $BTC, $DOGE, $CKB, $ORDI, News, Cryptocurrency, Top Stories, Markets, Movers, Benzinga Markets
