On Thursday, the entire market cap gained $35.3 billion in 24 hours, according to data from CoinMarketCap.com, led by a big jump in Bitcoin (BTC).
This jump is broadly attributed to two factors: central bank monetary policy and the upcoming “Bitcoin halving,” which is happening in May.
The so-called “halving” is a pre-programmed change in part of Bitcoin’s underlying technology (i.e. Blockchain), which will reduce the supply of Bitcoin coming onto the market.
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