2024

Bitcoin

April

<p><strong>Bitcoin continues to put investors’ nerves to the test with a new dip that recently saw it plummet back down to $60,000. A harsh selloff that has made some doubt the sustainability of the recent bullish rally. However, in a comeback as sharp as the previous drop, the leading cryptocurrency has already climbed back to around $66,000 at the time of writing these lines.</strong></p>
<h2 id="h-bitcoin-bullish-signals-weather-the-storm-of-violent-fluctuations">Bitcoin, Bullish Signals Weather the Storm of Violent Fluctuations</h2>
<p>Despite the recent turmoil that saw Bitcoin fall briefly back to $60,000, before regaining nearly 10% in a rebound to retrace to the current $66,000, most of the primary technical and fundamental indicators continue to support the thesis of a sustained upward trend:</p>
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 <li>On one hand, the risk appetite of new retail Bitcoin investors remains largely moderate according to <a href="https://cryptoquant.com/asset/btc/summary" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a>, with only 48% of purchase flows coming from these recent arrivals. A fever pitch far from the typical 84% to 92% of the past terminal bullish peaks.</li>
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 <li>On the other hand, the profit/loss index of the analytics firm also remains outside the realms of extreme overbought territory that preceded the definite highs in previous cycles.</li>
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 <li>Finally, and perhaps most tellingly: despite the sharp rebound in recent months, Bitcoin’s overall valuation measures are still far below the record highs reached in 2013, 2017 and 2021 during past surges.&nbsp;&nbsp;<br></li>
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<h2 id="h-the-inevitable-major-event-of-2024">The Inevitable Major Event of 2024</h2>
<p>But beyond these favorable indicators, an even more substantial fundamental factor could well be the main detonator for Bitcoin’s future price surge. This is the upcoming “halving,” the unique reduction by half in the issuance rate of new bitcoins, scheduled to occur on April 20, 2024, just one month away!</p>
<p>Each time, the programmed scarcity of issuance in the Bitcoin code has been the main catalyst for a new stratospheric surge in prices to mark a new bullish cycle of unprecedented scale. And for 2024, with an economic context increasingly marred by inflationary excesses, many analysts predict a transition to even loftier peaks.</p>
<p>With its recent low at $60,000, followed by a swift rebound to $66,000, Bitcoin has once again reminded us just how incredibly volatile the crypto markets can be. Yet, despite these <a href="https://www.cointribune.com/en/bitcoin-wobbles-worst-day-for-crypto-since-ftx-crash/" target="_blank" rel="noopener noreferrer nofollow">violent swings</a>, the primary technical and fundamental indicators continue to paint an unequivocally bullish underlying picture.</p>
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Bitcoin is bouncing back to $66,000! The Bull Run is not over yet!

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