Bitcoin Hits $8K Erasing Coronavirus Crash — 13 Days Till Halving

Bitcoin (BTC) price finally hit $8,000 on April 29 as a solid week of gains continued to buoy markets.

Cryptocurrency market daily overview. Source: Coin360

BTC price returns to $8,000

Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD breaking the $8,000 after a seven-week absence.

The move firmly reverses Bitcoin’s crash in mid-March, when the cryptocurrency shed 60% in a day to plumb 15-month lows of $3,600.

Bitcoin 1-day chart. Source: CoinMarketCap

At press time, the new levels had yet to cement themselves amid short-term volatility, with highs on exchange Bitstamp of $8,013.

Bitcoin’s latest success follows a sharp uptick of 10% last week, with 50-day and 200-day moving average resistance now conquered.

As Cointelegraph analyst Keith Wareing reported earlier on Wednesday, the next major area in which to gain a foothold lies at around $8,500.

Halving goes mainstream

In terms of current-year gains, meanwhile, BTC is squarely beating the dollar and stocks, and at 9.5% is…