Bitcoin Achieves Record-Breaking High of $73,500 Before Halving
Tuesday, 9 April 2024, 13:00
How Bitcoin accomplished this feat
Hardwired into the cryptocurrency's code is an event known as the halving, reducing its supply growth rate with each occurrence. This scarcity dynamic, coupled with intense demand, fueled Bitcoin's unprecedented price rise to $73,000.
The impact of halving
- Halving effects: Supply reduction drives price up even with stable demand.
- Historical anomaly: Bitcoin breaks tradition by reaching new highs pre-halving.
At just 2.2 million coins on exchanges, dwindling supply and frenzied demand have set the stage for further price escalations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.