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Bitcoin breaks $10,000 before halvening
The world’s biggest cryptocurrency rallied back above $10,000 ahead of a technical event seen by some as having driven the price higher recently.
Bitcoin rose as much as 2.7% to a high of $10,070 on Friday in Asia trading, briefly taking it into five figures for the first time since Feb. 24, and was holding just below that level at $9,974 at 10:25 a.m. in Hong Kong.
That’s before the cryptocurrency’s upcoming halving, when the rewards miners receive for processing transactions will be cut in half as soon as May 12, an intentional feature of Bitcoin designed to control inflation.
[Bloomberg]
The world’s biggest cryptocurrency rallied back above $10,000 ahead of a technical event seen by some as having driven the price higher recently.
Bitcoin rose as much as 2.7% to a high of $10,070 on Friday in Asia trading, briefly taking it into five figures for the first time since Feb. 24, and was holding just below that level at $9,974 at 10:25 a.m. in Hong Kong.
That’s before the cryptocurrency’s upcoming halving, when the rewards miners receive for processing transactions will be cut in half as soon as May 12, an intentional feature of Bitcoin designed to control inflation.
[Bloomberg]
