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Bitcoin Emerges from Post-Halving “Danger Zone”
Technical analyst Rekt Capital suggests that Bitcoin has entered an accumulation phase, signaling a positive trend in the market. Let’s delve deeper into the recent developments:
Bitcoin’s Historical Volatility Patterns
- After previous halving events, Bitcoin typically experienced increased volatility, known as the “danger zone.”
- In the current cycle, Bitcoin’s price dropped by a mild 6.5% over three weeks, followed by a 15% surge, indicating a strong exit from the danger zone.
Bitcoin Price Movement
As of now, Bitcoin is trading at nearly $62,600, reflecting a 3% increase in the past 24 hours. Rekt Capital emphasizes the importance of the $60,000 support level for the continuation of the upward trend, with a potential return to the $68,000 mark.
Market Outlook and Predictions
Arthur Hayes, founder of BitMEX, predicts that Bitcoin’s price will stabilize between $60,000 and $70,000 by August. Standard Chartered expects Bitcoin’s price to reach $150,000 by the end of the year and $200,000 by 2025. Pantera Capital also remains bullish on Bitcoin, forecasting a potential surge in price to $114,000 by August 2025.
Factors Influencing Bitcoin’s Value
The upcoming US presidential election and economic factors such as inflation concerns and Federal Reserve policies could impact Bitcoin’s value. Investors will closely monitor the April Consumer Price Index (CPI) release for further insights.
Overall, the market sentiment remains positive, with various experts and analysts projecting a bullish trajectory for Bitcoin in the coming months.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
