Finally after long periods of sinking in gloomy, Bitcoin prices the past hours have increased over 8,300 USD after the break resistance at 8,000 USD.
The momentum of Bitcoin also pulls the green across the market.
Bitcoin returns over 8,000 USD
According to data on CoinmarketCap, the bitcoin price broke the 8,000 USD milestone after seven weeks of absence at this threshold.
According to some analysts the current Bitcoin price is able to reverse the fallen trend of the bear faction in mid-March, if the bull maintains well on this threshold in the coming time.
Cointelegraph Analyst, Keith Wareing, said "8,000 USD is not a broken wall, but with current performance and Halving being close, Bitcoin can fully advance to target 8,500 USD a few days.
Bitcoin Halving is the focus
This year Bitcoin is considered as one of the best profitable investment properties, defeating many of his big stocks like Netflix..
The market is ' hot ' more than ever when Bitcoin's most important event is about to take place, which will reduce the inflation rate to 1.8% and reduce by half the Bitcoin supply.
Bitcoin Halving has been the most prominent event on the crypto market and its echo has been beyond the crypto-frontiers. Many mainstream media consider Bitcoin to be a kind of potential large investment asset, which can create a new group of Bitcoin millionaires.
Although there are now a lot of mixed opinions on the event, one said this would be an important turning point to help Bitcoin regain momentum as well as pedals for the recovery altcoin market.
But no less people commented that should not be seen about the previous Halving of Bitcoin which reviews the current Bitcoin market.
Because the current bitcoin market has changed a lot compared to the recovery Halving 2016 or 2012. Therefore the investor needs to eliminate thinking "every Halving is the bitcoin price will increase" to avoid sticking to the FOMO psychological syndrome.
However, it is also inevitable to avoid this overwhelming expectation, as Halving Bitcoin is being seen as ' light in the tunnel end ' for Bitcoin and the crypto market at the moment.