Bitcoin halving likely this week: Here’s what to expect
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
Amid the Iran-Israel war, the largest cryptocurrency – Bitcoin – slid 7.7 per cent marking the biggest such retreat since March 2023.
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
Amid the continuous rally, the cryptocurrency Bitcoin has climbed up the ranks to become the world's eighth most valuable asset by market capitalisation, surpassing silver.
Notably, since the spot bitcoin exchange-traded funds were approved in the US, the cryptocurrency is steadily rising.
The surge in the prices of the Bitcoin saw a pause on Wednesday after days of rally reaching at its all-time-high.
Its M-cap also crosses the $2.5 trillion mark.
Bitcoin jumped as much as 13 per cent to USD 63,968 on Wednesday before it cooled down to just over USD 61,000 marking its highest peakpoint.
Bitcoin led a major rally for cryptocurrency prices and related stocks on Tuesday as it bolted above $57,000 for the first time since November 2021, reports said.
Decentralised crypto exchange FixedFloat has confirmed a hack that resulted in the theft of Bitcoin and Ether worth at least $26 million.