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Bitcoin prices leap above $5000 for the first time in months | blastingnews

Bitcoin, the world’s most popular cryptocurrency, has seen its price leap above the $5,000 mark for the first time since November of 2018. The famously volatile cryptocurrency has endured wild fluctuations in its valuation before, having previously soared to nearly $20,000 at high points before plunging to below $4,000 during early 2019. Recently, however, Bitcoin prices have been slowly but surely ticking upwards again.

Cryptocurrency analysts have been bullish on Bitcoin’s recent prospects because of a number of forthcoming developments that they view as promising for the budding crypto-industry.

The approaching “halvening,” wherein the reward for mining new Bitcoins will be halved, is an anti-inflationary measure that many investors and analysts expect to stabilize the Bitcoin market.

Bitcoin halvening
According to the deVere Group, which writes extensively on cryptocurrency topics, the recent Bitcoin price rebound can largely be accredited to stability brought about by the halvening. The expected 2020 Bitcoin halvening hasn’t actually occurred yet, though historically the reward for “mining” or producing new Bitcoins has been halved every four years.

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Bitcoin prices leap above $5000 for the first time in months.

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