Bitcoin surges past $66,000 post halving, Altcoins experience mixed performance
cryptocurrency completed its «halving» on the weekend, a phenomenon that happens roughly every four years and aims to reduce the rate at which bitcoins are created.
Meanwhile, Ethereum, the second-largest cryptocurrency, experienced a rise of over 1.4% to $3,232. Altcoins like BNB, Solana, Avalanche, Polkadot, and Chainlink saw significant gains ranging from 2% to 6%. In contrast, Dogecoin, Toncoin, Shiba Inu, and Polygon faced declines of up to 1%.
Edul Patel, CEO of Mudrex, said, «Bitcoin trades above the $64,000 level aftermath of the fourth halving event. Neither bulls or bears are dominating at the moment. In this case, it is likely that Bitcoin might trade sideways between $62,000 and $66,000 in the next couple of days.»
Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, «This week could see significant volatility, probably in favour of bulls as the Hong Kong ETFs are gearing up to launch and the economic calendar is also inconsequential. A breakout above $75,000 would confirm that the bottom has been achieved around $60,000.»
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