BitCoin News | Fastest Horse’ Bitcoin Blasts Toward $10,000 as Paul Tudor Jones Backs BTC

Famed investor Paul Tudor Jones has thrown his weight behind bitcoin mere days before the quadrennial halving.

Bitcoin’s price peaked at $9,972.03, its highest in two-and-a-half months.
Billionaire hedge fund manager Pual Tudor Jones says he bought BTC futures to hedge against inflation.
Bitcoin’s quadrennial halving event is likely to fall on May 12.
The price of bitcoin edged closer to the psychological $10,000 level on Thursday, as investors geared up for the quadrennial halving in roughly five days. Meanwhile, one of the world’s most famous investors just threw his weight behind BTC as a hedge against inflation.

Bitcoin Approaches $10,000
Bitcoin’s value peaked at $9,972.03 on Bitstamp, the highest since late February. The largest cryptocurrency by market cap is now trading at $9,872, gaining 8% on the day.
At current values, bitcoin’s total market capitalization stands at just over $181.4 billion, according to CoinMarketCap. That’s equivalent to 67.8% of the overall cryptocurrency market.

Some say bitcoin failed the coronavirus test after its price plunged to $3,800 in late February. In hindsight, the flash crash may have been a prime opportunity to accumulate as BTC rebounded more than 162%.https://bit.ly/2SRr7Q9

Still, analysts expect bitcoin to pull back sharply in the wake of next week’s halving event. If previous post-halving cycles are any indication, a selloff is likely to be quick and painful before the next bullish cycle begins.