RATE Group | Market Wrap: Bitcoin’s Price Up 12% Since the Halving
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Market Wrap: Bitcoin’s Price Up 12% Since the Halving

15 May Market Wrap: Bitcoin’s Price Up 12% Since the Halving

Posted at 03:58h in Bitcoin News by

Bitcoin has seen steady gains in price since the halving took place on May 11. The number of institutional investors trading in the CME crypto options market is a sign of continued interest in this asset class. 

At press time, bitcoin’s price has risen 12% since the reward for bitcoin miners was cut in half.

Over the past 24 hours, bitcoin (BTC) was trading up 6% at $9,689. The world’s first cryptocurrency is chugging higher, with technical indicators including the 10-day and 50-day moving averages above bullish levels since May 13. 

btcmay14
Bitcoin trading on Coinbase since May 12
Source: TradingView

Mark Warner, head of trading for crypto brokerage BCB group, told CoinDesk the price gain is due to continual interest in bitcoin as an asset class, and that the uncertain future faced by miners will take time to shake out. 

“Broadly speaking, we expect demand for bitcoin to continue growing incrementally and it will take some time for the supply shock to work its way through the market and…

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