Reserve

Biden

Bitcoin

Show

<p>The price of Bitcoin, the world’s largest cryptocurrency, has experienced a recent dip, dropping from around $67,000 to $62,000 yesterday. However, it is currently trading at approximately $64,000 today, with the possibility of further declines. This volatility has caught the attention of analysts, one of whom, <a href="https://twitter.com/Ashcryptoreal/status/1783525239252488270?t=0mTFv9pszQ_kGJ0SRbLYrA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Ash Crypto (@Ashcryptoreal)</a>, has pointed to several factors contributing to the price movement and hinted at a potential buying opportunity for investors.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="743" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-743x1024.png" alt="" class="wp-image-481845" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-743x1024.png 743w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-218x300.png 218w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-768x1058.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-1115x1536.png 1115w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-1487x2048.png 1487w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-109x150.png 109w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-100x138.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-254x350.png 254w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195-788x1085.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1195.png 871w" sizes="(max-width: 743px) 100vw, 743px">
</figure>
<h2 class="wp-block-heading" id="why-bitcoin-is-dumping">Why Bitcoin Is Dumping</h2>
<ol>
 <li><strong>Historical Market Cycle</strong>: Ash Crypto notes that, historically, Bitcoin has undergone correction and price consolidation after a significant pump following the halving event. The recent surge from $15,000 to $73,000 is now being followed by a corrective phase, which is consistent with past market cycles.</li>
 <li><strong>Lower-than-Expected GDP:</strong> The analyst highlights that the recently released GDP projections for the United States came in at 1.6%, lower than the expected 2.5%. This disappointing economic data has ignited fears of a potential recession, leading to a sell-off in the S&amp;P 500, NASDAQ, and cryptocurrency markets.</li>
 <li><strong>Biden’s Tax Proposal</strong>: Yesterday, President Biden proposed the highest capital gains tax in history at 44.6%, along with a 25% tax on unrealized gains for high-net-worth individuals. Historically, such proposals have triggered market dumps, and the current situation is no exception, as investors react to the potential impact on their investments.</li>
 <li><strong>Geopolitical Tensions:</strong> The analyst points out that yesterday, Israel struck 40 Hezbollah sites in South Lebanon. Bitcoin has a tendency to price in potential war scenarios, leading to an immediate dump in response to such geopolitical tensions.</li>
</ol>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="golden-buying-opportunity-below-60k">Golden Buying Opportunity Below $60k</h2>
<p>Ash Crypto suggests that the low GDP numbers could actually be bullish for the market in the long run, as it may prompt the Federal Reserve to implement rate cuts. After the recent inflation data, it was expected that rate cuts could be delayed, but the GDP figures increase the probability of rate cuts once again.</p>
<p>Furthermore, the analyst believes that the $60,000 support level for Bitcoin remains strong, with a significant number of buy orders placed at that level. However, if a black swan event (an unpredictable and severe event) were to occur, Bitcoin could potentially dip lower, presenting a golden buying opportunity for investors.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-bitcoin-price-down-btc-analyst-points-to-golden-buying-opportunity-that-could-arise-soon/" rel="noopener noreferrer nofollow">Why Is Bitcoin Price Down? BTC Analyst Points to Golden Buying Opportunity That Could Arise Soon</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Bitcoin Price Down? BTC Analyst Points to Golden Buying Opportunity That Could Arise Soon

Table of Contents

CaptainAltcoin

Other articles published on Apr 26, 2024

Trader earns $23M flipping Solana memecoins: Here’s how

Ethereum: What $781 million outflows in 7 days means for ETH’s prices

FBI Issues Warning Against Unregistered Crypto Services Amid Privacy Concerns

Nvidia-backed AI startup releases avatars that express human emotion

Bitcoin in ‘post-halving danger zone’; Here’s what it means for BTC

Who Will Become Financially Independent and Retire in 2024? The Ultimate Crypto Investment Plan

Join our free newsletter for daily crypto updates!