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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-market-retreat-and-anticipated-halving-event-spur-analysis" rel="noopener noreferrer nofollow">Bitcoin’s Market Retreat and Anticipated Halving Event Spur Analysis</a><br></p>
<p style="text-align: justify">Recent market activities have seen <a href="https://en.bitcoinhaber.net/new-analysis-reveals-bitcoin-correction-signals-based-on-mvrv-ratio" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value retreat approximately 13% from its peak, dipping momentarily to the $60,000 mark. This movement is seen as a natural correction in response to the market’s overheated conditions as the Bitcoin community anticipates the halving event, forecasted to occur within the next 30 days.</p>
<h2 id="insights-on-bitcoin-s-bull-cycle-continuity">Insights on Bitcoin’s Bull Cycle Continuity</h2>
<p style="text-align: justify">Contrary to the pullback, analysis firm CryptoQuant suggests that the current bull cycle is far from finishing. A key observation from their report highlights the low influx of new investor funds compared to the inflow seen at the crest of previous market cycles. This indicates a potential for continued growth rather than a nearing end to the cycle.</p>
<h2 id="investment-patterns-and-market-valuations">Investment Patterns and Market Valuations</h2>
<p style="text-align: justify">The Weekly Crypto Report from the same firm points out that less than half of Bitcoin’s investments are from short-term holders at present, whereas the climax of bull cycles often features a majority of these investors. Additionally, market valuation metrics remain modest when paralleled with past peaks, bolstering the assertion that the top of the market has not been reached.</p>
<p style="text-align: justify">Furthermore, the upcoming halving event is a significant factor, with less than 30 days to go. This event has traditionally heralded an upturn in Bitcoin’s value, and the pattern is expected to hold. The halving will reduce <a href="https://en.bitcoinhaber.net/bitcoin-halving-approaches-mining-costs-soar-and-profitability-concerns-rise" rel="noopener noreferrer nofollow">mining</a> rewards by half, a change historically preceding major market rallies.</p>
<p style="text-align: justify">Standard Chartered Bank has elevated its Bitcoin price projection for 2024 and anticipates a peak around $250,000. The bank’s forecast is not solely based on the halving event but also considers the recent positive performance of Bitcoin spot ETF funds and the unique market dynamics they introduce.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-market-retreat-and-anticipated-halving-event-spur-analysis" rel="noopener noreferrer nofollow">Bitcoin’s Market Retreat and Anticipated Halving Event Spur Analysis</a></h5>

Bitcoin’s Market Retreat and Anticipated Halving Event Spur Analysis

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