RATE Group | Bitcoin halving fails to fuel price rally, but investors are still active
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Bitcoin halving fails to fuel price rally, but investors are still active

16 May Bitcoin halving fails to fuel price rally, but investors are still active

Posted at 06:27h in Bitcoin News by

Bitcoin’s (BTC) market value has remained unchanged over the past week, despite the asset’s price swings before and after the halving.

BTC had undergone a noteworthy 92 per cent price rally in the leadup to the halving. Market value reached US$10,000 ($15,572), a significant value for BTC, the Friday before prices began to fall.

Market value dropped $2,800 in the lead up to the halving, from $15,444 to $12,644.

The most substantial price plummet of 8.31 per cent started Sunday morning during international trading hours. BTC regained some lost ground by jumping $1,564, to $14,841.59. The result is a total weekly loss of 2 per cent.

BTC_chart

 

Alt coins Ethereum (ETH) and Ripple (XRP) moved in correlation to BTC’s pre-halving price drop.

Asset Percentage gain/loss May 8-15 YTD gain/loss
Bitcoin (BTC) -0.0085 0.46
Ethereum (ETH) -0.0432 0.66
Ripple (XRP) -0.07 0.135
S&P ASX Small Ordinaries (XS) 0.0023 -0.1301

Source: BTC Markets 

 

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