Bitcoin halving takes place in 5 days and investors’ interest in the oldest crypto currency keeps growing
For the first time in last 2 months, Bitcoin closed the trading day over $9,000.
Bitcoin price has been growing since 20th April, when bitcoin was traded for roughly $6,800. On Wednesday, its closing price reached more than $9,200, and so Bitcoin grew in 35% in only 3 weeks. It reached values last seen in the beginning of March. Yet, there’s still 12% missing to reach its February record-high $10,300.
Bitcoin futures market progress signal that February record highs could soon be reached. The volume of futures contracts grew over $350 billion, which is the most since last June. Investors seem to rely on further Bitcoin price growth after Bitcoin halving taking place on 12th May, when the reward for Bitcoin miners will drop to its half. In combination with growing demand for Bitcoin, halving should lead to price increase. Yet, we should not rely on these predictions.