Bitcoin Rallies Hard as Market Buzzes Over Halving Event

May 4, 2020, by Maayan
Bears Get Blown Away by BTC Bulls Bitcoin fans won the battle of bulls versus bears as the largest cryptocurrency capitalized on last week’s gains to soar to new highs. After a quiet Monday and Tuesday, BTC mounted a strong

Bears Get Blown Away by BTC Bulls

Bitcoin fans won the battle of bulls versus bears as the largest cryptocurrency capitalized on last week’s gains to soar to new highs. After a quiet Monday and Tuesday, BTC mounted a strong Wednesday rally that led to highs over the $9,000 level ahead of the weekend.

The market is now catching its breath into the weekend, but buyers are definitely in control as traders want to buy dips ahead of Bitcoin’s halving event. From the 12th of May Bitcoin miners will see their rewards for mining a block cut from 12.5 to 6.25 BTC. The previous two events have seen price gains for the coin in the months that followed.

Litecoin Rises Through $50 as Positive Sentiment Spreads  

Litecoin traders jumped on the positive market sentiment and drove LTC to highs over $50.00 for the week.

Stock markets fell on the week, so the performance in the cryptocurrency sector may grab some attention and see more volumes arrive next week.

Litecoin has also had two halving events. The second occasion didn’t produce real gains, but the first occurred in August of 2015 when the coin traded under $3.00. It would move to highs just under $300 in the late-2017 crypto bull market.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

×