After the sharp fall that Bitcoin has been experiencing, it is now recovering ground, surpassing a key value and the market is regaining optimism.
Bitcoin (BTC) May started below US$60,000 and this Friday, May 3 It once again exceeds that value, after a sharp drop that took it close to US$57,000. Now the most famous crypto in the world recovers 2.5% of its value in the last 24 hours, although during the week the drop was 6.63%.
Ethereum, for its part, is trading higher and already exceeds $3,000, which it had recently broken.. It has accumulated a drop of 3.3% in the last seven days, although in 24 hours it recovered 1.73% of its value.
He BTC price fell sharply after its fourth halving, which occurred on April 20. At the time, she was listed at around $64,000. Immediately after the halving, Bitcoin experienced a brief rally, which led it to exceed $67,000 on April 22, but has since begun a downward trend.
The sharp drop in the price of Bitcoin After the halving it surprised those who expected it to begin to rise after the event, as happened with previous cycles. And Bitcoin halvings have historically been associated with subsequent strong increases.
For example, Bitcoin soared around 3,000% in 17 months after the halving in 2016. However, the current cycle was different. Recall that Bitcoin experienced an extraordinary bullish rally before the fourth halving and reached an all-time high at that time.
In fact, even considering this recent correction, Bitcoin accumulates a rise of 35% since the beginning of the year.
Source: Ambito
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