Bitcoin Price Soars to $69,000 Just Before 4/20 Halving
Over the past 24 hours, the price of Bitcoin has seen a 5% increase, reaching $69,139. This marks a reversal of the downward trend that had pushed the leading cryptocurrency below $70,000 and nearly touched $65,000 on Tuesday before bouncing back on Thursday.
What is Bitcoin Halving and how does it surge the Bitcoin Price
The Bitcoin halving is a network event that occurs every four years and reduces the reward miners receive for producing a new block of BTC. Its objective is to slow down the growth of the circulating supply and curb inflation, which typically leads to a rising price for the asset.
Read Also: $1 For LUNC Is Possible After Bitcoin Halving, Here Are What Could Make It Possible
In anticipation of the next halving, scheduled for April 20, the price of Bitcoin surged in...