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Bitcoin reaches almost 9,000, but will this rally continue?

The bitcoin prices continued to rise on Sunday, reaching a one-day high close to $9,000 according to Coindesk data. Bitcoin showed a brief growth of $8,900 on Sunday evening.

bitcoin rises 2705Photo: Pixabay

The most famous cryptocurrency marked a similar value in April 2018. The price of one bitcoin, the world’s largest digital currency by market capitalization, has recently increased by more than 130 percent since the beginning of 2019. But until the cost of the most famous cryptocurrency has reached its maximum value in the amount of $19,345.50, registered in December 2017

Some time ago we were talking about bitcoin halving – a programmed mechanism for reducing the remuneration for the unit. A similar process takes place every 4 years from the moment the general cryptocurrency appears. The expected date of the nearest halving is May 24, 2020. Usually, after this, the cryptocurrency becomes more expensive, but can we expect a rally until 2020?

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The cryptocurrency rate is as follows, according to Monday’s data:

  • Bitcoin rose by 0.77 percent to 8,688.37

  • Ethereum fell 0.10 percent to 264.56

  • Ripple increased the cost by 0.83 percent 0.4078

  • Bitcoin Cash jumped 1.39 percent to 430.90

  • Litecoin added 4.05 percent to 113.00.