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In the Asian morning hours, the overall cryptocurrency market was massively affected by the news of Israel’s attack on Iran. However, following this incident, the top cryptocurrencies like Bitcoin fell below the $60,000 level and reached a low of $59,700, whereas the world’s 2nd biggest cryptocurrency, Ethereum, fell below the $2,900 level and reached a low of $2,878. Why cryptocurrency market fall massively? 
Although, at the time of writing, the overall cryptocurrency market experienced a massive recovery, and Bitcoin and Ethereum reached lower levels, now trading above $64,000 and $3,100 respectively. This shows that investors as well as institutions aren’t fearful of these ongoing conflicts.&nbsp;
Todayq News on April 17, 2024, published a <a href="https://news.todayq.com/new-bitcoin-price-prediction-analyst-says-120k-possible/" rel="noopener noreferrer nofollow">report</a> where analyst Edouard Hindin from Tyr Capital highlighted that in 2008 when the overall market crashed after Bitcoin was created. Besides this, analyst Edouard also believes that Bitcoin is one of the best assets to protect wealth in uncertain times and also safeguard investors’ money.
But in the market, fear will remain the same and investors will pull out their funds during uncertain times which leads to a massive market fall. However, the upcoming halving event might be the reason behind this quick recovery in the crypto market.&nbsp; Bitcoin’s price performance analysis and Key levels 
Currently, Bitcoin is trading near $64,600, and in the last 24 hours, it experienced a massive price surge of over 5.5%. The reason behind this price surge is the upcoming halving event. If we look at Bitcoin’s performance over a longer period, in the last 7 days, due to the release of CPI data and conflict between Iran and Israel, it was unable to gain momentum and experienced over an 8% price fall. Whereas, in the last 30 days, the market has remained stable. Experts are predicting that Bitcoin could hit $120K soon after this upcoming halving event, which is also backed by the former CEO of Binance CZ.
Whereas, other top cryptocurrencies including Ethereum, Solana, Binance Coin, and others also experienced a massive price gain. Despite the recent incident, Ethereum in the last 24 hours gained a massive 5% upside momentum, Solana experienced over an 11% upside momentum, and Binance Coin experienced a 3% upside momentum.

Bitcoin makes strong comeback after dipping below $60k

Todayq News

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