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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-battles-to-solidify-position-over-50000-despite-analysts-warning-of-a-sharp-decline" rel="noopener noreferrer nofollow">Bitcoin Battles to Solidify Position Over $50,000 Despite Analyst’s Warning of a Sharp Decline</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-downward-pressure-subsides-as-coinbase-foresees-positive-market-shift" rel="noopener noreferrer nofollow">Bitcoin</a> is actively working to anchor its price above the $50,000 mark while aiming for a record high. Market opinions are divided, with some predicting a potential downturn for the cryptocurrency. Notably, expert Alan Santana foresees a possible significant price correction for Bitcoin after its ascent to $52,000, which he believes might be a provisional peak.</p>
<h2 id="expert-s-insight-on-bitcoin-s-trajectory">Expert’s Insight on Bitcoin’s Trajectory</h2>
<p style="text-align: justify">Santana’s analysis draws attention to Bitcoin’s recent attainment of a higher price peak, juxtaposed with a conspicuous bearish divergence in its daily Relative Strength Index (RSI). The trading activity on February 15 ended with a Doji candlestick pattern, signaling market uncertainty, and was followed by a price dip the next day.</p>
<p style="text-align: justify">Emphasizing the potential immediacy and severity of Bitcoin’s next downturn, Santana suggests that the cryptocurrency could plunge to the $35,000 level. He pinpoints the next support zone within $34,000 to $36,000, cautioning that the forthcoming decline could occur abruptly and forcefully.</p>
<h2 id="bitcoin-s-market-status-and-future-outlook">Bitcoin’s Market Status and Future Outlook</h2>
<p style="text-align: justify">Despite testing the $52,000 barrier unsuccessfully, Bitcoin has managed to reclaim a market capitalization of $1 trillion. This resurgence follows a period of favorable data that saw Bitcoin’s price surge from below $50,000 and decisively break the $50,000 barrier.</p>
<p style="text-align: justify">The role of spot Bitcoin ETFs in the currency’s ascent is a subject of discussion, with some attributing the market boost to increased liquidity from these funds. Analysts from Standard Chartered have posited that such ETFs could infuse $50 billion to $100 billion into the sector in 2024.</p>
<p style="text-align: justify">Bitcoin’s price stood at $51,300 at the time of the report, indicating a daily loss exceeding 1% but still showing a 10% increase over the past week, providing investors with some relief.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-battles-to-solidify-position-over-50000-despite-analysts-warning-of-a-sharp-decline" rel="noopener noreferrer nofollow">Bitcoin Battles to Solidify Position Over $50,000 Despite Analyst’s Warning of a Sharp Decline</a></h5>

Bitcoin Battles to Solidify Position Over $50,000 Despite Analyst’s Warning of a Sharp Decline

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