Bitcoin bounces up, when will it hit the $200,000 threshold?

At 6 am this morning 4/4 (Vietnam time), Bitcoin price trading at $46,551, up 1.06%% over the same time yesterday, equivalent to an additional $486 per coin.

Statistics show that in the last 24 hours, the world’s most popular and valuable virtual currency traded the lowest at 45,570 USD and the highest at 47,431 USD.

According to CoinMarketCap, Bitcoin trading volume during this period is around $24.1 billion, with market capitalization at $898 billion.

On Vicuta, an exchange that many Vietnamese people are interested in, the buying price of Bitcoin was recorded at VND 1,063 billion, while the selling price was VND 1,111 billion.

The increase in Bitcoin price also pulls up the price of other cryptocurrencies. Specifically, Ethereum is up 2%, Binance Coin is up 2%, Solana is up 2.1%, Ripple is up 1.7%, Cardano is up 1.4%, Dogecoin is up 4.6%, Shiba INU is up 3.5%, Litecoin up 3.2%, Chailink up 3%…

Total market capitalization recorded at $2.2 trillion, up 2.34%.

Bitcoin and the virtual currency market recently went up thanks to a series of positive news, including that Russia may consider accepting oil and gas payments in Bitcoin in the context that this country is facing a series of sanctions of the country. America and the West.

In addition, the Terra project continuously acquires Bitcoin to use as collateral for the stablecoin UST and the US Secretary of the Treasury, Janet Yellen, recently expressed her active support for Bitcoin also motivates. promote the cryptocurrency market.

Notably, this Bitcoin rally coincided with the rally of stock market US, shows that Bitcoin is increasingly positively correlated with risky assets, rather than being seen as a safe haven.

Bitcoin’s recent rally shows the market’s optimism towards the cryptocurrency, according to analysts. Matt Maley, chief market strategist at Miller Tabak, thinks Bitcoin’s 200-day moving average around $48,270 could be near-term resistance. Meanwhile, some other experts focus on the $50,000 area.

The 19 millionth Bitcoin has been mined

According to data from Bitbo, the 19 millionth Bitcoin (BTC) has been mined. With the number of Bitcoins capped at 21 million BTC, there are only 2 million BTC coins left unmined. The remaining Bitcoins will be finished mining by 2140.

Currently Bitcoin miners will receive 6.25 BTC for each block they mine. Every 210,000 blocks, or about 4 years, the amount of Bitcoin as a block creation reward is halved.

Mining speed will decrease over time. Thus, within 12 years, miners have mined 19 million/21 million of the total Bitcoin supply, but it will take about 120 more years to mine the rest.