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Why Bitcoin Could Rise to More Than $50,000 by September

TheMotleyFool

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Why Bitcoin Could Rise to More Than $50,000 by September: https://g.foolcdn.com/editorial/images/763860/a-couple-using-a-laptop-and-reviewing-documents.jpg

Bitcoin (CRYPTO: BTC) was trading above $43,000 on Feb. 5. Although it hasn't been soaring after the approval of spot Bitcoin exchange-traded funds (ETFs) in January, the digital currency is still up over 80% in the past 12 months.

And there is still optimism that it can go even higher than that. Here's a look at why the price could rise beyond $50,000 within the next seven months.

Approval of a spot Bitcoin ETF did not send the cryptocurrency's valuation soaring, but what could do the trick is a Bitcoin halving event. In such a case, the reward that crypto miners receive is cut in half to preserve the digital currency's scarcity and to help control supply.

Source Fool.com

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