Summary
Bitcoin’s price has rebounded above $69,000 as the network’s halving event approaches on April 20. The halving event reduces the amount of BTC miners receive as a reward, leading to a decrease in the circulating supply and potentially driving up the price. The price spike has also influenced other cryptocurrencies, with the market up 4% overall. Subscribe to Alpha Reports for exclusive insights on airdrops, NFTs, and more.
Key Points
1. Bitcoin is bouncing back from a lull to start April, climbing back up above $69,000 as the network’s anticipated halving event is set to take place in a couple of weeks.
2. The price of Bitcoin has jumped by 5% over the last 24 hours to a current price of $69,139, reversing a three-day trend that saw the leading cryptocurrency drop beneath the $70,000 level.
3. In anticipation of the next halving, which is currently expected to take place on April 20, the price of Bitcoin spiked in March to a new all-time high price of $73,737, as the event is pegged to a certain network block and Bitcoin activity helps determine the date.