Bitcoin Hits Highest Level Since Black Thursday Amid Halving Buzz

By Omkar Godbole

The top cryptocurrency by market value rose to $7,800 early on Monday to hit its highest level since March 12 – dubbed “Black Thursday” – when prices fell from $7,950 to $4,700 as the coronavirus pandemic crashed most markets. 

At press time, bitcoin is changing hands near $7,700, representing a 100 percent gain on the low of $3,867 registered on March 13. 

While the major part of the recovery rally could be associated with the uptick in the S&P 500 and the global stock markets, the recent move from the April 21 low of $6,800 to $7,800 looks to have been fueled by factors other than moves in equities. 

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