Bitcoin rally kicked off: BTC overcame $ 7500

On the evening of April 23, Bitcoin was able to break through the psychological mark of $7,500. At the time of publication of this reviewThe average weighted rate of the first cryptocurrency rose to $ 7549.

This takeoff occurred about a month afterhow the cryptocurrency market suffered a fall in mid-March. As a result of the so-called “Black Thursday”, March 12, BTC collapsed to a yearly low of $3,800.

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Analysts agree that we are at the beginning of another Bitcoin rally. Over the past 24 hours, BTC's capitalization increased by 5% to $137 billion.

Wow #GBTC from @GrayscaleInvest heads for the moon at the end of trading. Bullish sign that bitcoin price will continue to rally. #Bitcoin #BitcoinHalving pic.twitter.com/IE6aGd2PDW

- Brett Colbert (@brett_colbert) April 23, 2020

Most altcoins are also gaining in value now. For example, Ethereum has risen in price by almost 3% and is preparing to break the $ 190 mark.

Tezos showed the best results from the TOP 10 cryptocurrencies. This coin gained almost 9% to $2.51. The total value of all cryptocurrencies on the night of Friday, April 24 increased to $213.839 billion.

Bitcoin is pulling up the rest of the cryptocurrency market. Investors have stepped up due to the approach of the May Halving (reduction of the block reward for the block in the BTC network), experts say.

After halving, the supply of coins in the market is expected to decline. Accordingly, the demand for cryptocurrency will begin to increase, which we are already observing today.

Analysts connect the strengthening of the BTC rate also withthe fact that central banks include printing presses and “flood” the markets with fiat money. Such monetary policy accelerates inflation and forces people to seek alternative forms of preserving capital, and Bitcoin is one such tool.

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