2024

Bitcoin

April

when

<p>Since the April halving, the price of Bitcoin has struggled to soar. It fluctuates between $60,000 and $70,000. This stagnation, coupled with a decline in social sentiment on social media, could indicate a market bottom.</p>
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     <p lang="en" dir="ltr">I'll break it down in simple terms.<br><br>When does <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> recover? It's when weak miners die and hash rate recovers.<br><br>This one is for the record books as it's taking a lot of time for miner capitulation post-halving.<br><br>Probably can thank ordinal inscriptions boosting profits. <a href="https://t.co/19MB0b8mHO" rel="noopener noreferrer nofollow">pic.twitter.com/19MB0b8mHO</a></p>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1803926249036710234?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 20, 2024</a>
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  Analyses are rife about the current Bitcoin price trend
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<h2 id="h-social-sentiment-in-decline-a-crucial-market-indicator-for-crypto-investors">Social Sentiment in Decline: A Crucial Market Indicator for Crypto Investors</h2>
<p>According to <a href="https://www.cointribune.com/en/why-is-the-current-sentiment-around-bitcoin-so-negative/" target="_blank" rel="noopener noreferrer nofollow">data</a> from Santiment, <strong>optimistic comments</strong> on Bitcoin have significantly decreased on social media. In <a href="https://s3.cointelegraph.com/uploads/2024-06/f004ef01-dda1-4ec8-bee4-aee3efed2a15.jpeg" target="_blank" rel="noopener noreferrer nofollow">its report</a>, the crypto analysis company cites well-known platforms such as:</p>
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 <li>X,</li>
 <li>Reddit,</li>
 <li>Telegram,</li>
 <li>4Chan,</li>
 <li>BitcoinTalk.</li>
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<p>This <strong>decline in enthusiasm</strong> contrasts with the general optimism that prevailed before the Bitcoin halving in April. Investors have indeed lost confidence as BTC has failed to reach new all-time highs since the halving.</p>
<p>Result: The <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">price</a> of the flagship crypto <strong>has consolidated until now around $61,000.</strong> At the time of writing this article, Bitcoin is trading at $61,380.</p> 
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<h2 id="h-towards-an-explosive-rebound-after-the-bottom-bitcoin-experts-believe-so">Towards an Explosive Rebound After the Bottom? Bitcoin Experts Believe So!</h2>
<p>Bitcoin analyst Willy Woo highlights an important point: the rise doesn’t always happen immediately. The price of Bitcoin generally enters <strong><a href="https://www.cointribune.com/en/bitcoin-market-consolidation-following-the-2024-halving/" target="_blank" rel="noopener noreferrer nofollow">a consolidation phase</a> before experiencing a bullish breakout</strong>.</p>
<p>According to him, the post-halving consolidation period of 2024 could be the longest ever observed. It has already lasted 61 days, compared to 24 days in 2017 and 8 days in 2021.</p>
<p>Willy Woo believes that <strong>the price of BTC will recover</strong> after “the death of weak miners and the recovery of hashrate.”</p>
<p>The current decline in social sentiment and <a href="https://www.cointribune.com/en/what-to-expect-from-the-btc-price-after-the-bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">the stagnation</a> of Bitcoin could well indicate a market bottom. For savvy investors, this represents a potential buying opportunity before an anticipated recovery.</p>
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Collapsing Social Sentiment: Is Bitcoin Hitting Its Market Low?

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