Cryptocurrency
Bitcoin Tops $8,000 For First Time Since March Amid Halving Hype
As reported on Bloomberg, “Excitement over Bitcoin’s upcoming halving and an overall risk-on environment are pushing up cryptocurrencies, with the largest token reaching its highest level since before the coronavirus-induced crash. “Bitcoin gained as much as 13.5% to $8,778, according to composite prices on Bloomberg. Other cryptocurrencies also advanced, with Bitcoin Cash and Litecoin up more than […]
As reported on Bloomberg, “Excitement over Bitcoin’s upcoming halving and an overall risk-on environment are pushing up cryptocurrencies, with the largest token reaching its highest level since before the coronavirus-induced crash.
“Bitcoin gained as much as 13.5% to $8,778, according to composite prices on Bloomberg. Other cryptocurrencies also advanced, with Bitcoin Cash and Litecoin up more than 8% each.
“Cryptocurrencies have moved in tandem with riskier assets — stocks are up more than 30% — over the past month but many crypto fans are also pointing to Bitcoin’s so-called halving, which reduces the number of rewards miners receive. Ahead of the token’s last two halvings (it’s sometimes referred to as a halvening), it surged, with some enthusiasts positing the same could happen this time around…”