Based

Bitcoin

Time

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/is-it-time-to-buy-cryptocurrency/" data-wpel-link="internal">Is It Time to Buy Cryptocurrency?</a> 
<a href="https://coin-turk.com/binance-ceosu-cz-acikladi-bitcoin-btc-boga-kosusu-bu-tarihte-geliyor-btc-fiyati-icin-boga-yili" data-wpel-link="internal">Bitcoin</a> price has surpassed $67,500 and is finding buyers close to its new annual peak as this article is being prepared. Double-digit rises continue in altcoins, with particularly abnormal movements in meme coins. So, is it the right time to buy cryptocurrency? 
<h2 style="text-align: justify" id="is-it-time-to-purchase-cryptocurrency">Is It Time to Purchase Cryptocurrency?</h2> 
Four-year cycles are observed during <a href="https://en.coin-turk.com/analyst-jamie-coutts-predicts-bitcoins-price-to-hit-100000-by-2025/" data-wpel-link="internal">Bitcoin</a>‘s process of refreshing its all-time high and moving higher. With approximately 50 days left until the halving, investors are eyeing the next peak. According to Vetle Lunde, a senior analyst at K33 Research, current market conditions still represent an excellent period to buy according to historical data. 
<blockquote> 
 “Despite the tendency for post-halving performance to be sluggish, each halving has presented beautiful opportunities to enter the market. We have always seen that 150-400 days after the Bitcoin block reward halving, the compounded effects of suppressed miner selling pressure positively influenced <a href="https://en.coin-turk.com/ceo-of-better-markets-urges-sec-to-reject-spot-bitcoin-etfs/" data-wpel-link="internal">BTC</a>.” 
</blockquote> 
Bryan Legend, investor and CEO of Hectic Labs, believes that the pre-halving period could be a profitable time to hold Bitcoin. 
<blockquote> 
 “Holding BTC during the pre-halving period can be quite profitable. The pre-halving rally transforms investor sentiment into a new bull cycle, but timing the market to know when to exit at the peak is extremely difficult.” 
</blockquote> 
<h2 style="text-align: justify" id="btc-expert-opinions">BTC Expert Opinions</h2> 
BTC continues to push its annual peak even as this article is being written, now climbing to the $67,700 mark and not far from the $69,000 peak. CoinShares analyst James Butterfill notes that the total assets under management (AUM) in crypto funds are almost at their peak. 
<blockquote> 
 “Assets under management (AUM) have come very close to their all-time high of $82.6 billion after recent price increases, approaching the $86 billion set at the beginning of November.” 
</blockquote> 
Sergei Gorev, a risk manager at YouHodler, comments on the current period; 
<blockquote> 
 “Spot Bitcoin ETFs are buying 10 times more Bitcoin daily than miners produce.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-322990 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/BTC-Tarihsel-Halving-Performans.png" alt="" width="1155" height="650"> 
This gives us a much better understanding of the supply scarcity story. We have seen demand for BTC from ETF channels up to 20-30 times the daily issuance. Turning back to expert opinions, according to Lunde from K33 Research, Bitcoin’s price will enter a consolidation phase after the halving. 
<blockquote> 
 “The pre-halving rally results from a combination of traders who bought in advance and miners holding a larger portion of their rewards. Immediately after the halving, the hashrate tends to drop, block production slows from 10 minutes to 15-25 minutes, causing uncertainty to rise. Based entirely on past performance data and the diminishing effect of halving rallies, Bitcoin could see a rally of 130-150% following the halving, potentially leading to a peak of $125,000 – $150,000 in 2025.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/is-it-time-to-buy-cryptocurrency/" data-wpel-link="internal">Is It Time to Buy Cryptocurrency?</a></h5>

Is It Time to Buy Cryptocurrency?

Table of Contents

COINTURK NEWS

Other articles published on Mar 5, 2024

Bitcoin ETFs under review by South Korean regulators, FSS governor shares insights

Why DeeStream (DST) Presale Attracts Solana (SOL) and Cardano (ADA) Investors in Global Crypto Craze

BAYC’s NFT Floor Price Hits New Low Amid ETH Spike: What’s Behind the Decline?

EXCLUSIVE: Bitcoin Hits New All-Time High: Here's When Benzinga Readers Think $100K Milestone Cou...

Breaking: US SEC Files Coinbase Insider Case as Supplemental Authority in Binance Suit

Floki Token Bleeds 15%! Floki Price To Record 100% Jump This Week?

Join our free newsletter for daily crypto updates!