5/7, 1:41 PM (Source: TeleTrader)
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Bitcoin trades over $9,200 ahead of halving

The price of Bitcoin increased on Thursday and approached $9,400 at a daily high ahead of its halving which is set to take place on Monday, about 4 days and 10 hours from now.

The event is going to be the third bitcoin halving ever to take place. The number of bitcoins rewarded per block is halved every 210,000 blocks and will occur approximately every four years until the total number of bitcoins reaches 21 million, the total set to be mined ever. In this May's halving, the number of rewarded bitcoins per block will decrease from 12.5 to 6.25. After the previous two halvings, in November 2012 and July 2016, the bitcoin price accelerated exponentially.

The world's most famous cryptocurrency was 1.60% in the green at 7:35 am ET as it went for $9,299.1. Bitcoin is also up 7.73% for the week while its price jumped 29.10% over the past month.

Breaking the News / NP