Posted 4/9/2024, 1:00:00 PM
Bitcoin Soars to New High of $73.5K Ahead of Halving Event That Could Further Fuel Price Surge
- Bitcoin hit a new all-time high price of $73,500 on March 13, its first time reaching a new high before a halving event
- Halving events occur every 4 years and cut the rate of new bitcoin supply in half, typically increasing prices
- Limited bitcoin supply from holders refusing to sell has contributed to higher prices and demand
- Introduction of bitcoin spot ETFs further increased demand and dried up available supply
- History shows bitcoin prices surge 400% on average in the year after halvings, setting up potential for more growth by 2025
