Bitcoin Rises Above $10,000 for First Time Since Early June - News Tags

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Monday, July 27, 2020

Bitcoin Rises Above $10,000 for First Time Since Early June

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After several weeks of trading in narrow ranges, Bitcoin topped $ 10,000 on Sunday for the first time since early June. In addition to suffering price shocks due to the economic consequences of the coronavirus outbreak, the virtual currency went through its third cut in half on May 11, which reduced the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5 .

The "halving" has affected the supply side of bitcoin and has increased the time it takes for miners to find their break-even point. On Sunday, the cryptocurrency peaked at $ 10,200

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