Seeking Alpha
2020-04-29 11:54:14

Bitcoin pushes back over $8K

Bitcoin (BTC-USD) continues to rally alongside the stock market, up another 4% today to $8.1K. That's the first time above $8K since the popular crypto was crashing with everything else in early March.Notable during this rally is Bitcoin's outperformance against the rest of the crypto market.Coming up in a couple of weeks is Bitcoin's latest "halving," at which block rewards paid to miners are cut by 50%. Traders don't believe this and the price rally have anything to do with each other, instead pointing to macro factors like runaway central bank policy and government debt.

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