2024

Bitcoin

Rekt

<div class="finbold">
 <p class="paragraph">Following the completion of the 2024 Bitcoin (BTC) <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, the focus has turned to the asset’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectory, which has exhibited volatility in the short term.&nbsp;</p>
 <p class="paragraph">Before the halving event, Bitcoin aimed to maintain stability above the $65,000 mark. However, the leading cryptocurrency has faltered in retaining this position, with its price now facing the looming threat of dipping below.&nbsp;</p>
 <p class="paragraph">Amidst uncertainty, several crypto analysts have offered insights into what to anticipate regarding Bitcoin’s valuation post-halving.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? This $1 cryptocurrency could surge as Bitcoin fees skyrocket <span class="self-center text-xs text-slate-500">51 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Here's why you should closely watch these 3 cryptocurrencies <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> racks up record $2.4 million fees as Runes Protocol launches <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin fees above $100 for the first time; Sell-off incoming? <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Particularly, in an X (formerly Twitter) post on April 20, <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by <em>Rekt Capital </em>suggested a pattern identified as the ‘<a rel="noopener noreferrer nofollow" title="post-halving" href="https://thebittimes.com/tag/post-halving.html">post-halving</a> re-accumulation range’ which typically follows the “Bitcoin pre-<a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> retrace.”</p>
 <p class="paragraph">According to the analysis, this pre-halving period sets the stage for the next cycle in Bitcoin’s halving journey, with the bottom of this retrace serving as the base for re-accumulation. According to <em>Rekt Capital, </em>this consolidation phase prepares for a potential breakout into a parabolic upside.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="480" src="https://cdn.thebittimes.com/images/2024/04/20/d53b866c6779de07f37f0707c984b604.webp" alt class="wp-image-170509" srcset="https://cdn.thebittimes.com/images/2024/04/20/d53b866c6779de07f37f0707c984b604.webp 680w, https://cdn.thebittimes.com/images/2024/04/20/d53b866c6779de07f37f0707c984b604.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView/Rekt Capital</em>
  </figcaption>
 </figure>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“When the Pre-Halving Retrace bottoms, that bottom acts as the base of the Re-Accumulation (i.e. Range Low). When this Range Low is established, a bout of consolidation begins in preparation for a future breakout into Parabolic Upside,” the analyst said.&nbsp;</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-bitcoin-s-price-bottom">Bitcoin’s price bottom</h2>
 <p class="paragraph">Adding to the optimism is an analyst with the pseudonym <em>El_crypto_prof</em>, who indicated that Bitcoin may have found its bottom, suggesting a potential turnaround in its price trajectory.&nbsp;</p>
 <p class="paragraph">Notably, the expert highlighted the significance of reclaiming certain technical levels before the <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, a pattern observed in previous market cycles that has often preceded significant upward movements.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="349" src="https://cdn.thebittimes.com/images/2024/04/20/fede3193346feec1bbf726811112b5b6.webp" alt class="wp-image-170510" srcset="https://cdn.thebittimes.com/images/2024/04/20/fede3193346feec1bbf726811112b5b6.webp 680w, https://cdn.thebittimes.com/images/2024/04/20/fede3193346feec1bbf726811112b5b6.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView/El_crypto_prof</em>
  </figcaption>
 </figure>
 <p class="paragraph">Overall, Bitcoin continues to endure bearish sentiments, with various market indicators indicating sustained losses for the cryptocurrency. For instance, according to a report by Finbold, Bitcoin’s average transaction fees surpassed the $100 mark for the first time on April 20, post-halving, suggesting a potential sell-off.</p>
 <p class="paragraph">Uncertainty is further heightened, considering Bitcoin reached its record high before the halving event, diverging from historical trends. Consequently, it remains challenging to determine if Bitcoin will experience further upward momentum, though the potential for increased volatility persists.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">By press time, Bitcoin had retraced after briefly touching the $64,000 level. It is currently trading at $63,865, marking a plunge of over 5% in the past seven days.</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/20/fe0faa9d5c83dc31bad754f3860835e0.webp" alt class="wp-image-170511" srcset="https://cdn.thebittimes.com/images/2024/04/20/fe0faa9d5c83dc31bad754f3860835e0.webp 675w, https://cdn.thebittimes.com/images/2024/04/20/fe0faa9d5c83dc31bad754f3860835e0.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Bitcoin seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">At the same time, Bitcoin’s one-day technical analysis, sourced from <em>TradingView</em> on April 20, indicates bearish sentiments. A summary of indicators, moving averages, and oscillators align with a sell sentiment, registering at 11 and 2, respectively.</p>
 <figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="188" src="https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp" alt class="wp-image-170512" srcset="https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp 1024w, https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp 300w, https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp 768w, https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp 1536w, https://cdn.thebittimes.com/images/2024/04/20/c0528e0787117e77b2c2f586df2aed85.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin technical analysis. Source: TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">While these analyses provide insight into potential future movements, unforeseen events such as escalating geopolitical tensions can quickly alter <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectories.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-prediction-post-halving-what-s-next-for-btc-tbt85873.html">https://thebittimes.com/bitcoin-price-prediction-post-halving-what-s-next-for-btc-tbt85873.html</a></p>

Bitcoin price prediction post-halving; What’s next for BTC?

Table of Contents

TheBitTimes

Other articles published on Apr 20, 2024

Pushd’s presale attracts Bittensor and Filecoin investors amid market dips

Binance tax evasion trial moved to May 17 in Nigeria

Bitcoin spot ETFs experience five-day withdrawal streak as halving nears

Shiba Inu Shows Market Resilience Amid Increased Token Burns

Binance Under Legal Scrutiny in Nigeria for Alleged Tax Evasion

Exploring Top Hidden Altcoins That Could Lead the Next Market Rally

Join our free newsletter for daily crypto updates!