Bitcoin has become more expensive than 46000 experts predict
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Bitcoin has become more expensive than $46,000 – experts predict growth above $50,000 after halving

On Friday morning, Bitcoin continued its rise that began on Thursday, when it exceeded $45,000 for the first time in almost a month. The last time Bitcoin (BTC) traded above this level was on January 12, the day after the ETF began trading.

  Image source: Kanchanara/unsplash.com

Image source: Kanchanara/unsplash.com

On Thursday, Bitcoin rose 3.2% to $45,600, and on Friday it reached $46,000. According to data Coingecko, BTC was up 3.4% from the previous day to $46,075 at the time of writing, maintaining a 6% gain over the previous seven days.

Last year’s U.S. banking crisis benefited Bitcoin as investors began pouring into the cryptocurrency again amid uncertainty with banks. Traders also noted An increase in Bitcoin hoarding over the past two weeks by large investors known as “whales” rushing to take advantage of the BTC price being below December and January highs. Over the past two weeks, average daily Bitcoin trading volumes fell 29.6% week-on-week, JPMorgan said Thursday, while Ethereum trading volumes fell 40%.

Experts also associate the growth of Bitcoin with the upcoming halving (halving the reward for mining a block), which is expected to occur in April. By opinion Caroline Mauron from Orbit Markets, after the halving, Bitcoin will gain momentum and overcome “the psychologically important mark of $50,000.”

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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