Bitcoin Hits Unprecedented High of $71,415, Anticipates Halving Event in April
Summary:
Bitcoin reached a record high of $71,415 on March 11, bolstered by a 2.62% increase in the 24 hours before 08:05 am UTC. This comes just days after Ether crossed the $4,000 threshold and just over a month before the anticipated Bitcoin halving event on April 20, which will halve mining rewards to 3.125 BTC.
On March 11, Bitcoin, the pioneering cryptocurrency, reached an unprecedented peak value of $71,415 because of a 2.62% rise within the previous 24 hours up to 08:05 am UTC, according to CoinMarketCap data. Over the preceding week, it had surged by over 10% and within the last month, the rally had been a significant 47%. This new historical peak was achieved only three days subsequent to Ether surpassing the $4,000 mark for the first occasion since December of 2021. The BTC/USD, 1-month chart acts as the source of this information. This fresh record for Bitcoin occurred just 36 days prior to the keenly watched Bitcoin halving event. Slated for April 20, the occurrence will witness mining rewards being slashed from the present 6.25 BTC ($418,800) to 3.125 BTC ($209,400). As this is an ongoing situation, additional details will be incorporated as and when they emerge.
Published At
3/11/2024 11:33:16 AM
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