Bitcoin has been through fire and back, as it faced price volatility amid the recent crypto market crash. BTC traded 15.98% away from its all -time high of $73,750.07 threatening to nosedive below $60,000. This decline was partly fueled by the escalating geopolitical factors in the Middle East. The downturn trend was becoming a concern in the crypto community, especially with the eagerly awaited Bitcoin halving event that is set to happen in just one day, on April 20, 2024. Now that the BTC price has made a slight rebound, let’s delve into reasons behind this recovery.
Top 5 Reasons BTC Price is Rising Today
Various reasons are behind the current surge of BTC price as discussed next.
1. Upcoming Bitcoin Halving
The fourth Bitcoin halving, set to occur tomorrow, is fueling anticipation and potentially driving up Bitcoin’s price today for various reasons. Firstly, the halving reduces the block reward for miners, leading to decreased Bitcoin supply and increased scarcity, boosting the
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