The price of Bitcoin went through significant fluctuations in the time leading up to the expected fourth halving. However, since the event took place, Bitcoin’s price has shown less instability.
The majority of alternative cryptocurrencies have experienced small gains over the past day. However, Toncoin is an exception, experiencing significant losses of more than 10% despite recent positive developments from Tether.
BTC’s Calmness After Halving
Last Friday, Bitcoin’s price took a turn for the worse, dropping from over $71,000 to around $65,000. It regained some ground the following day, but then plummeted again to roughly $61,000 due to increasing tensions between Israel and Iran.
Following a failed bounce-back effort on Monday, Bitcoin’s value began to drop during the workweek. The price decline was further fueled by Israel’s attack on Iran earlier in the week, causing Bitcoin to fall below $60,000 once more.
Despite Iran’s announcement that they would not retaliate imminently, the Bitcoin price surged to $65,000 within hours of the previous statement. The last 24 hours have been relatively calm in comparison, with the Bitcoin network already undergoing preparations for its forthcoming halving event.
Approximately hours have passed since the event was fully accomplished, resulting in a decrease in new Bitcoin rewards to 3.125 coins. Currently, Bitcoin’s value hovers near the $64,000 mark without undergoing significant fluctuations.
The company’s market value exceeds $1.250 trillion, making it the leader in the cryptocurrency market with a 51.5% market share on CoinGecko.
ADA, ICP on the Run
An significant development, besides the halving, was revealed by Tether and Ton on the previous day. Tether declared its intention to introduce two of its largest stablecoins onto Ton’s network. Consequently, TON‘s price experienced a sharp increase initially but later plummeted dramatically. Currently, the asset has dropped by 12%.
Instead, ICP has experienced a significant increase of 13%, now trading above $14. In comparison, ADA has risen by 7% and is approaching the $0.5 mark. The larger-cap altcoins have also seen gains, but to a lesser extent.
The total crypto market cap remains calm at around $2.450 trillion on CoinGecko.
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2024-04-20 08:06