The current week is crucial for Bitcoin and the cryptocurrency market. Here is the data that everyone is observing:
- Bitcoin Halving: The halving, a scheduled event that halves the reward miners receive for validating transactions on the network, is just around the corner. This event could pronounce the scarcity of Bitcoin (BTC) and, therefore, unleash a significant rise in its price¹. However, despite expectations, Bitcoin is still a long way from its all-time high of $73,737.
- Current price of Bitcoin: In the last 24 hours, Bitcoin has suffered a bearish correction and fell approximately 1.6%, trading around US$62,300. Although it has extended its losses, greed levels on the part of traders still remain on a good note, according to the Fear and Greed Index.
