Bitcoin

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/countdown-to-bitcoins-fourth-halving-a-potential-surge-in-value/" data-wpel-link="internal">Countdown to Bitcoin’s Fourth Halving: A Potential Surge in Value</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/blackrocks-influence-on-bitcoins-future/" data-wpel-link="internal">Bitcoin</a>’s (BTC)</strong> fourth halving is approaching, with the block mining reward set to decrease from 6.25 BTC to 3.125 BTC as early as April 2024. According to some analysts in the cryptocurrency market, the current period might be the best time to accumulate and utilize the dollar-cost averaging (DCA) strategy.</p> 
<h2 id="historical-data-on-bitcoin">Historical Data on Bitcoin</h2> 
<p style="text-align: justify">If historical data repeats itself and a supply shock once again impacts Bitcoin’s economy and valuation, the leading cryptocurrency could soon experience a parabolic rise. Typically, the periods of 12-18 months following a halving are characterized by a significant appreciation in BTC price.</p> 
<p style="text-align: justify">A cryptocurrency market analyst known by the pseudonym Negentropic shared his macro technical analysis of the BTC price chart. Experts suggest that this can point to the cyclical nature of traditional <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> markets and cryptocurrencies. Although the determinants of a token’s price may vary across successive periods of transaction history, similar macroscopic price patterns can often be detected.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-307500 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/bitcoinnn.jpg" alt="" width="1600" height="750"></p> 
<h2 id="bitcoin-s-120-000-target">Bitcoin’s $120,000 Target</h2> 
<p style="text-align: justify">A senior analyst points to a pattern observed across three consecutive Bitcoin cycles. According to the analyst, Bitcoin experienced a similar correction in the form of a bull flag in 2017, 2020, and the current position. These corrections were smaller and could also have been the last opportunity to buy BTC before the following parabolic fluctuation. The expert uses external Fibonacci retracement to set a potential target for Bitcoin’s rise in the current cycle. He also observed that the peak of the bull market in the previous two cycles reached the 6.618 Fibonacci extension.</p> 
<p style="text-align: justify">Therefore, if history repeats itself, the $120,000 level could be a target for BTC price. Consequently, ahead of Bitcoin’s fourth halving in April 2024, analysts are recommending the dollar-cost averaging strategy. Technical analyses, showing similar price patterns in past cycles, suggest that $120,000 could be a potential target.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/countdown-to-bitcoins-fourth-halving-a-potential-surge-in-value/" data-wpel-link="internal">Countdown to Bitcoin’s Fourth Halving: A Potential Surge in Value</a></h5>

Countdown to Bitcoin’s Fourth Halving: A Potential Surge in Value

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