On Friday, Bitcoin went up by 5% to reach one-month highs. By Sunday, it surged to $48,439 as of 8:14 P.M. Hong Kong time. 

In January, Bitcoin reached $49,000, its highest price in two years. Since then, the price fluctuated, influenced by the Securities and Exchange Commission's approval of ETFs. 

Industry analysts attribute Bitcoin’s price surge to a slowdown in ETF outflows and increased buying activity ahead of April's halving event.

The "halving" event in Bitcoin refers to a pre-programmed event built into the Bitcoin protocol that occurs approximately every four years or after every 210,000 blocks are mined. During this event, the reward that miners receive for validating transactions and adding them to the blockchain is cut in half.

Historically, Bitcoin prices tend to surge following halving events. In 2020, the most recent halving, the price went from $8,570 to $18,040.



Sun Feb 11 2024

Bitcoin’s Big Rally

Bitcoin Hits $50K

DecenTrader Founder Notes Bearish Signal

BlackRock, Grayscale Drop ETF Ads

What in the world is the "Bitcoin Halving"?

BlackRock’s Spot Bitcoin ETF Removed from DTCC Website

DecenTrader Founder Notes Bearish Signal

Sun Feb 11 2024 Bitcoin’s Big Rally

Bitcoin Hits $50K

DecenTrader Founder Notes Bearish Signal

BlackRock, Grayscale Drop ETF Ads

What in the world is the "Bitcoin Halving"?

BlackRock’s Spot Bitcoin ETF Removed from DTCC Website

DecenTrader Founder Notes Bearish Signal

Sun Feb 11 2024

Bitcoin’s Big Rally