Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-market-trends-and-analyst-predictions/" data-wpel-link="internal">Insights on Bitcoin’s Market Trends and Analyst Predictions</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/milyarder-isim-hangi-kripto-paralara-yatirim-yaptigini-acikladi" data-wpel-link="internal">Bitcoin</a> expectations globally signal a rise post-halving, while a renowned analyst suggests otherwise. A key analyst who accurately predicted the 2023 crypto rise stated that even if <a href="https://coin-turk.com/bitpay-yoneticisi-bitcoin-bu-sene-20-000-dolari-gorebilir" data-wpel-link="internal">BTC</a> drops to $52,000, the <a href="https://en.coin-turk.com/robert-kiyosaki-projects-bitcoin-price-to-hit-300000-by-2024-end/" data-wpel-link="internal">Bitcoin</a> bull market will continue with an “incredibly strong” outlook.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">Last year, DonAlt, who made accurate predictions about the market surge, told thousands of crypto followers that considering Bitcoin’s nearly 170% rise from October 2023 to March 2024, a 30% correction after reaching all-time highs should not be surprising.</p> 
<p style="text-align: justify">According to DonAlt, a potential drop to $52,000 will not harm <a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-possible-sec-could-publish-orders-soon/" data-wpel-link="internal">BTC</a>‘s future bullish outlook.</p> 
<blockquote> 
 <p>I think it will still look incredibly strong even if it retracts to $52,000. This is a very minor setback on a large scale.</p> 
 <p>I can classify higher time frames, including weekly ones, as high time frames, and it still looks really good. There’s a lot of room for it to go down and still look really good.</p> 
 <p>I think it will still look ridiculously good even if it retracts to around $42,000, where the ETF was launched. However, I think it’s very unlikely that the market will remain weak compared to the $52,000 support.</p> 
</blockquote> 
<p style="text-align: justify">Despite Bitcoin’s vulnerable appearance, DonAlt mentioned that if BTC potentially moves above $69,000, the prevailing bearish outlook will disappear.</p> 
<blockquote> 
 <p>I might classify this as a bit of weakness, and if we manage to close above $69,000, which was the highest level we reached before the highest weekly close, this weakness will no longer exist. If we manage to surpass this level, you could argue that $80,000 to $85,000 is next, and I think that’s very likely.</p> 
 <p>Until then, it makes sense to be a bit more cautious.</p> 
</blockquote> 
<h2 style="text-align: justify" id="how-much-is-bitcoin-now">How Much is Bitcoin Now?</h2> 
<p style="text-align: justify">The downward trend that started today seems to continue in Bitcoin. The price could not maintain stability above $63,000 and, as of writing, continues to trade at $62,900 after a 1.19% drop.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-345924" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-grafik-gorsel-coin-turk-com.png" alt="" width="1260" height="538"></p> 
<p style="text-align: justify">During this period, the Bitcoin market cap has fallen to $1.238 trillion. The trading volume has risen by 48% to $25 billion, which seems to have triggered a fear of short selling in the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/insights-on-bitcoins-market-trends-and-analyst-predictions/" data-wpel-link="internal">Insights on Bitcoin’s Market Trends and Analyst Predictions</a></h5>

Insights on Bitcoin’s Market Trends and Analyst Predictions

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