This weekend brought life to Bitcoin and many of the Altcoins, as Bitcoin increased in value by nearly $300.00 or 3.8%. Altcoins increased as well with gains for Bitcoin Cash and Bitcoin SV up 7% and 15% respectively. Several other coins posted gains of more than 15%. See the above chart for a visual breakdown.
Bitcoin appears to have overseen a change in its outlook over the last week. The coin has reached an important milestone on Friday: 18M bitcoins have now been mined, which means that only 3M more will ever be created. A huge reward for miners must come in the form of escalating bitcoin prices. Join the Mining Bonanza
This has reignited some of the excitement around the block reward halving. A common belief in the cryptocurrency community is that each block reward halving is preceded by a significant bull run. The market gradually prices in the decrease in supply from reduced emission, in a trend that appears to have repeated multiple times in Bitcoin history.
Multiple tweets with significant engagement were posted last week, highlighting this event. But despite a positive daily sentiment today (59.56 according to thetie.io), average sentiment is still on a downtrend.