Cryptocurrencies
Bitcoin Tops $10,000 First Time Since February, Before Halving
- Larget crypto has doubled in price from its March trough
- Upcoming halving cuts Bitcoin rewards miners receive in half
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The world’s biggest cryptocurrency briefly rallied back above $10,000 ahead of a technical event seen by some as a catalyst for longer-term price gains.
Bitcoin rose as much as 2.7% to a high of $10,070 on Friday in Asia trading, briefly taking it into five figures for the first time since Feb. 24, and was holding at $9,929 at 7:40 a.m. in New York. That’s before the cryptocurrency’s upcoming halving, when the rewards miners receive for processing transactions will be cut in half as soon as next week, an intentional feature of Bitcoin designed to control inflation.