2024

Bitcoin

April

Bitcoin, the leading cryptocurrency, fell to $ 38,000 due to the declines that started after the ETF approval.
However, BTC started to recover after these declines and rose above $ 43,000. While investors were waiting for a big rise from BTC before the upcoming halving, a positive analysis came from successful analyst Ali Martinez.
Drawing attention to a historical pattern experienced in past bull markets in Bitcoin, Martinez stated that BTC points to a strong recovery potential.
At this point, the analyst stated that $ 40,500 is an important level and pointed out that BTC started to rise in the past as it returned from the level of $ 40,500.
Emphasizing that a similar model has already emerged, with the BTC price returning from its average MVRV level of $ 40,500, Martinez said that this is a positive indicator for Bitcoin.
Underlining that similar situations have occurred in past bull cycles, the analyst said that BTC has a strong upward potential and pointed to $ 60,000.
<blockquote>
 “In past bull markets, Bitcoin rebounded strongly after touching the average MVRV price band.
 Now we are witnessing a similar picture. With the recent bounce of the average MVRV at 40,500, BTC has the potential to rise to the 1.0 standard deviation line at $60,000!”
</blockquote>
Apart from Martinez, other analysts also expect the rise in Bitcoin prices to continue as we approach the fourth Bitcoin halving in April 2024.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 During past bull markets, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> rebounded strongly after touching the mean MVRV pricing band.
 We're witnessing a similar pattern now. With the recent bounce from the mean MVRV at $40,500, there's potential for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to surge to the 1.0 standard deviation line at $60,000! <a href="https://t.co/mHXI5R3BSP" rel="noopener noreferrer nofollow">pic.twitter.com/mHXI5R3BSP</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1752310189741506699?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 30, 2024</a>
</blockquote>
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*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/new-bitcoin-forecast-from-a-successful-analyst-if-history-repeats-btc-has-upside-potential-in-the-short-term/" rel="noopener noreferrer nofollow">New Bitcoin Forecast from a Successful Analyst: "If History Repeats, BTC Has Upside Potential in the Short Term!"</a>

New Bitcoin Forecast from a Successful Analyst: "If History Repeats, BTC Has Upside Potential in the Short Term!"

Bitcoin Sistemi EN

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