Bitcoin has plenty of scopes to extend its current rally, a price indicator suggests, even as the cryptocurrency is fast closing in on the record high near $20,000 set three years ago.
According to Nischal Shetty, CEO of Mumbai-based crypto exchange WazirX, bitcoin is replicating price moves seen following previous halvings – four-yearly reductions in the rewards for miners. The cryptocurrency underwent its third halving on May 11, when prices were around $8,600.
https://www.coindesk.com/bitcoin-indicator-suggests-bull-market-is-still-in-early-phase
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