BTC/USD: Bitcoin Starts Week on High Note Above $65,000 After Halving Event Wraps Up

OG crypto successfully completed its software upgrade called ‘halving.’ Now miners are creating Bitcoin at a 50% slower pace.

Key Points:

• Bitcoin halving is a success.
• Rewards slashed to 3.125 BTC.
• Prices maintain upside trajectory.
• Bitcoin BTCUSD kicked off the week on an upbeat note after an eventful weekend. On Saturday, April 20, the original cryptocurrency officially concluded its milestone event called ‘halving.’ Once every four years or so, Bitcoin undergoes this software upgrade, which halves the issuance of new token supply. Now, Bitcoin rewards per block are down to 3.125 BTC from 6.25 BTC prior to the halving.
• Crypto traders apparently approved the event as the digital asset extended its upside swing. Early Monday morning, prices were floating at $65,000 to $67,000, up more than 10% from a Friday low of under $60,000 a piece. Still, it wasn’t such a big leg-up catalyst leading to monster gains as some had expected. Or, maybe, it’s still too early to say.
• In a similar fashion, Bitcoin prices didn’t go off the charts when the US greenlighted 11 spot Bitcoin exchange-traded funds. A few weeks after the approval, prices went ballistic, leading to a fresh all-time high of more than $73,000 per coin. As always, the warning label for that type of thing: past performance is no guarantee of future results.