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We had a good start to the week in the world of cryptocurrency. The flagship of cryptocurrencies, Bitcoin, was positioned at the $69,500 level in the morning hours. Later, the leading cryptocurrency BTC quickly rose, first surpassing $71,000 and then $72,000. Comments are being made that BTC has now started its journey towards $80,000. The biggest gainers from this rise were companies focused on cryptocurrency, with increases seen in their stock prices.
Excitement Peaks as Bitcoin Approaches Halving Event
Following Bitcoin‘s (BTC) climb to $72,000 for the first time since mid-March, excitement in the cryptocurrency world is at its peak. Particularly in the United States, a positive mood has begun to prevail in stocks related to crypto as the Bitcoin halving event approaches.
In the US, the giant crypto exchange Coinbase (COIN) gained 4.9% in pre-market trading, while shares of MicroStrategy (MSTR), the largest corporate holder of Bitcoin, saw a 10% increase. Additionally, BlackRock’s bitcoin exchange-traded fund (IBIT) also gained about 6.5%. These figures show that the rise in the cryptocurrency sector is not limited to Bitcoin alone.
Bitcoin Halving Excitement at Its Peak
The reward halving set to occur on April 20 will reduce the amount paid to Bitcoin miners for adding new blocks to the Blockchain by 50%. However, this event is creating a positive atmosphere in the market and drawing the attention of investors. After the halving, miners will be rewarded with 3.125 BTC per block.
The surge in the cryptocurrency sector is not limited to large firms. Among miners, Marathon Digital (MARA) gained 5.2% and Hut 8 (HUT), which merged with USBTC at the end of last year, increased by 5.6%. Moreover, Argo Blockchain (ARB), which trades on the London Stock Exchange, also rose by 5%.
All these developments demonstrate the potential of the cryptocurrency world and the possible gains in the future. When Bitcoin makes a move, not only do altcoins benefit positively from this rise, but companies also see positive reflections. However, the volatility in the world of cryptocurrency should not be forgotten. As of writing this article, the price of Bitcoin had dipped below the $72,000 mark. The period ahead for BTC is certainly full of surprises. Especially after the halving, where the price will trend is a continuing subject of speculation. Lastly, let’s note that the influx of institutional investors into Bitcoin continued over the past week.
