CODE

Bitcoin

Diamond

Avalanche

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<p>Bitcoin may be entering a risky period ahead of the next halvening event expected in mid-April 2024, according to some analysis. Historically, Bitcoin has seen significant price corrections in the lead up to prior halvening events - falling around 40% ahead of the 2016 halvening and 20% before the 2020 halvening.</p>
<p>If the pattern holds true, Bitcoin could be due for a 20-25% retrace from its current all-time high around $73,000. Key resistance levels to watch are in the $63,000-$65,000 range. A drop below this area could potentially trigger a more substantial selloff as the crypto markets price in the impact of reduced mining rewards post-halvening.</p>
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<p>However, bullish catalysts also loom on the horizon. Major events like Nvidia's GTC developer conference this week could unveil new AI and blockchain innovations that drive further speculative fervor. Red-hot crypto projects like Solana and Avalanche have also demonstrated incredible price resilience lately, with traders potentially rotating capital from Bitcoin and Ethereum into these rising ecosystems.</p>
<p>On-chain data indicates the early innings of institutional investment into crypto, suggesting ample dry powder for further price appreciation. The launch of spot Bitcoin ETFs has made it easier than ever for retail and institutional investors to gain exposure, with surprisingly strong initial volumes indicating mainstream demand.</p>
<p>Navigating this pivotal period ahead of the halvening will require careful trade management and adherence to risk discipline. Whichever direction the crypto markets resolve, the event is likely to catalyze another period of volatility that active traders must prepare for accordingly.</p>
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Bitcoin Danger Zone? | Short-Term Correction Next

Paul Barron Network

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