Bitcoin back at $ 10,000 within days of halving

The price of Bitcoin (BTC) exceeded the $ 10,000 barrier the night of Thursday, May 7th, just four days after the third cut in half or reduce currency spending in your system.

The price of the cryptocurrency reached this milestone for the first time since February 19 of this year, when it was trading around $ 10,186 per unit, according to messari.io service records.

At the time of this article’s publication, the price according to CryptoNews price index is $ 10,016, with a Market capitalization of more than USD 182 billion and a dominance of 67% in comparison with the rest of the cryptocurrencies.

The proximity of the cut in half This would affect the rise in Bitcoin, whose spending will increase from 12.5 BTC per block mined to 6.25 BTC This means a 50% reduction in incentives miners receive to review and record transactions on the network.

In the past 24 hours, the price of Bitcoin has risen by 9.02%, and the rest of the cryptocurrencies have also gained ground this Thursday. Ether (ETH) trades at $ 212.99 per unit (2.13%), XRP at $ 0.218374 per unit (0.17%) and Bitcoin Cash (BCH) at an advance of 1.28% for one price from $ 253 and Bitcoin SV holds its price at $ 209.

On the rise since its crash

The price of Bitcoin shows an upward trend as it dropped to less than $ 4,000 on March 12, a day known in the cryptocurrency world today as “black Thursday” as the price fell more than 40% . after the World Health Organization decided a pandemic to spread the coronavirus.

Since it bottomed out almost two months ago, Bitcoin shows a significant recovery despite the global economic situation This already shows negative numbers due to generalized quarantines and semi-paralyzed economies in most countries.

On April 29, CryptoNews reported that the first cryptocurrency had surpassed the $ 8,000 mark, making up virtually 100% of the losses for March.

As well as the proximity of cut in half This would drive the price of Bitcoin up. Historical data show that the price could drop after this event. It is important to remember that the reduction in currency spending occurs every 210,000 blocks of the Bitcoin network, or about every four years.

Three analysts consulted by this newspaper on March 22 pointed out that Bitcoin’s behavior will be more volatile in these months and that an international economic crisis could affect the price down.