RATE Group | Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish
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Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish

10 May Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish

Posted at 23:09h in Bitcoin News by

With Bitcoin’s (BTC) third mining rewards halving just over 24 hours away, mainstream market hype surrounding the event has grown exponentially, especially after balancing on the $10K threshold for some time. On May 9, BTC dropped to the $8,100 mark before making a small recovery to around $8,800.

Nevertheless, the fact that BTC has overall been able to stave off bearish market pressure instilled a certain amount of confidence in the hearts of investors all over the globe — despite Bitcoin facing a 15% value slip on May 9.

Additionally, it bears mentioning that since dropping to a price point of around $3,867 registered on March 12, Bitcoin’s value has almost tripled, so much so that a report released by blockchain research firm IntoTheBlock claims that nearly 85% — or 25.79 million — of all wallet addresses holding Bitcoin can currently sell at a profit from their holdings.

With all of that information out there, it is worth delving deeper into the question of what do…

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