Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-yet-to-reach-the-pre-halving-highs-when-will-the-btc-price-reach-50000/" rel="noopener noreferrer nofollow">Bitcoin Yet to Reach the Pre-Halving Highs: When Will the BTC Price Reach $50,000?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
In the longer time frame, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> continues to trade under bullish influence. The star crypto maintains an elevated trend regardless of the short-term price variations. However, the price has not yet reached some specified levels, due to which the pace of the upcoming bull run may remain uncertain.&nbsp;
Previously, the bulls had displayed extreme strength as they appeared to be more excited about the upcoming Bitcoin halving. The buying pressure accumulated quickly, offering the price a lift from the interim lows to the pre-halving high in a very short time frame. Unfortunately, the token has displayed a diverse trend at the moment as it fails to secure the pre-halving highs, as per a popular analyst, <a href="https://twitter.com/StockmoneyL/status/1730152426089468379" target="_blank" rel="noopener noreferrer nofollow">Stockmoney Lizards</a>.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/eDgkeTZRc6JpxFpaKJVU78Oo6B9pl7clgoc-MubqAHEmYQ8UOVcZepYgvfJ4qzVu_B5xFrdfzbcXtlf2MmNmpS4KWxbGluWrrv95vcyFfvqXxyaoprnPrEv7p6SV6m0XZJSr3b8KKWetQtawmwqyaXo" alt="">
</figure>
Referring to the above chart, the analyst believes that the price has not reached the pre-halving peak, which is around $48,000, nearly 30% below the previous highs. Therefore, the next upswing is expected to lift the price to this level, which in turn could propel it above $50,000. However, the analyst also cautions his 97.1K followers that the BTC price may undergo a ‘halving dip’ after reaching a new ATH.&nbsp;
<blockquote class="wp-block-quote">
 “Pre-halving peak not reached yet.&nbsp;
 We target 48K-50K. New ATH after the post halving dip,”
</blockquote>
Despite being bullish on Bitcoin, it is unlikely that the price may display another 2020-21-like bull run. The scenario is completely diverse now, as the crypto space has been bound by numerous regulations. Moreover, a notable drop has been recorded in trading volume, users, and exchanges.&nbsp; Therefore, maintaining an elevated trend is very important for the Bitcoin (BTC) price, while the halving and spot ETF may act as strong catalysts.

Bitcoin Yet to Reach the Pre-Halving Highs: When Will the BTC Price Reach $50,000?

CoinPedia News

Other articles published on Nov 30, 2023

Bitcoin would trade at this price if BTC hits its all-time high market cap

Bankruptcy Court Greenlights Defunct FTX to Sell $873M Worth Assets

FTX Wins Approval To Sell $873 Million Of Grayscale, Bitwise Assets

Suriname Ponders National Bitcoin Adoption, 1% Reserve Strategy

SEC Chair Gensler Withholds Judgment on Spot Bitcoin ETF Approval!

Polkadot Price Prediction: Is DOT Anticipating to Touch $6.00 Mark?

Join our free newsletter for daily crypto updates!