As Bitcoin approached its much-anticipated halving event, its value saw a dramatic decline.
On Friday afternoon, Bitcoin plummeted from a peak of $71,000 earlier in the day to a low of $65,100 around 3:40 PM on the Binance exchange, marking an 8% decrease.
The digital currency slightly recovered to $65,900, but still recorded a 2.45% loss over the week.
The halving, slated for approximately 3:30 PM on Sunday as per the Nicehash website, is expected to halve the generation of new Bitcoins.
Such events have historically influenced Bitcoin's market value, often leading. . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here