Cryptocurrency This Week: Bitcoin Halving Event Turns Expensive & More
India, May 12 -- This week, Bitcoin's halving event which happened on Monday, May 12, 2020, took the crypto ecosystem by storm, where the rewards per block mined on bitcoin's blockchain was reduced to 6.25 BTC from 12.5 BTC at 19:23 UTC. The world's largest cryptocurrency by market cap is currently trading near the $8,500 mark.
"Life of a crypto guy can be measured by the number of Bitcoin halvings one has witnessed," said Arjun Vijay, cofounder and COO of Giottus Cryptocurrency Exchange. Further explaining he said that this is the third time it has happened since Bitcoin was launched and for many crypto investors, it might be the first time they are witnessing the having.
Vijay said that halvings have generally been followed by a bull ...
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