2024

Bitcoin

when

<div class="finbold">
 <p class="paragraph">The 2024 Bitcoin (BTC) halving had many investors highly optimistic about how high the world’s premier cryptocurrency could go, but trading since the event brought a decisive shift in sentiment.</p>
 <p class="paragraph">Indeed, with BTC consistently remaining closer to $60,000 than $70,000 for prolonged periods, experts turned toward analyzing when and if the coin will collapse.</p>
 <p class="paragraph">In this climate, two prominent analysts – most active on X – arrived at much the same conclusion in rapid succession: Bitcoin may yet rise once again but cannot afford to fall below a crucial <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.</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">
    Top 10 cryptocurrencies by development activity heading into May <span class="self-center text-xs text-slate-500">30 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">
    Sell-off incoming? Ripple to unlock 1 billion XRP on May 1 <span class="self-center text-xs text-slate-500">1 hour 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">
    US economist warns inflation threat is ‘gravely understated’ <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">
    Economist predicts crisis to make prior recessions look like ‘Sunday school picnic’ <span class="self-center text-xs text-slate-500">3 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>
 <h2 class="wp-block-heading" id="h-bitcoin-needs-to-stay-above-this-<a rel=" dofollow title="price" href="https://thebittimes.com/tag/price.html" rel="noopener noreferrer nofollow">price-to-surge-again"&gt;Bitcoin needs to stay above this <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> to surge again</h2>
 <p class="paragraph">On Monday, April 29, the prominent crypto market expert Ali Martinez identified an important fact about Bitcoin’s recent performance – $61,900 has been serving as a crucial support level for BTC.</p>
 <p class="paragraph">In the same post, Martinez added that should the coin withstand the current pressure and remain above the import level, there is a strong possibility that Bitcoin shall again rocket to $71,000.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/a-vfhQ0xZjVP5oEB2ph4ePsgw7M8UMtLUPqGKoFXegSQqOUwfUfB-KILUt30jzHb3ovK89cE8NU03z4ZomLy_9y_sWhEAlRYLqpO85vCTtvXM_7CD3a4a5gjPRnZzdQR4mBE6armhMNZ5tGLuiVSSuM" alt>
  <figcaption class="wp-element-caption">
   BTC repeatedly bounced back after hitting $61,900. Source: @ali_charts
  </figcaption>
 </figure>
 <p class="paragraph">Writing one day later, on Tuesday, April 30, another crypto expert – Michaël van de Poppe – expressed similar optimism about Bitcoin’s prospects. According to Poppe, the current week is highly important and is likely to lead to the discovery of BTC’s current bottom.</p>
 <p class="paragraph">While less precise with the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> level, the expert also identified $61,000 as offering a critical zone for Bitcoin and stated that after the bottom – somewhere below the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> – BTC will reverse course and experience a resurgence.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/eKKrFca6H3LRZf5WEJ4hIq7ObMGSO92952V-UbPw2nZhKN6QAI5xdk8GWrt6_J2u6O4tZHFu--mfR5t9K0jmpj_t_klFkd5i7H5B68Evhquafpj2-rJ51NapVc-7mLK-ZXP_Luj7gvv1MbprDXF05qA" alt>
  <figcaption class="wp-element-caption">
   BTC’s likely upcoming trajectory, according to Michaël van de Poppe. Source: @CryptoMichNL
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-btc-price-chart">BTC price chart</h2>
 <p class="paragraph">At the time of publication, BTC appears keen to test the expert <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> since, with Bitcoin <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> today standing at $61,655.20 after a 3.43% 24-hour decline, BTC is below the crucial Martinez-identified support line.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/UVF3jlKeH1i8Pbc236AUa96pAcLpDKQ7JKVgsrkYbhq4PSLbiCXCsGxnxT1qcWhYiyDiTjTr5HAYpYYbtFjs4ovU6_qt50MCxExA3nK0YsEY5j9EGHlYmjugsTNRBSAAR-L-4wag4m29puZykOxeauY" alt>
  <figcaption class="wp-element-caption">
   BTC 1-day price chart. Source: Goolge
  </figcaption>
 </figure>
 <p class="paragraph">Indeed, the coin’s recent trend has been rather depressing for bulls, given the cryptocurrency is down 4.39% on the weekly chart and 13.47% in the red over the last 30 days.</p>
 <p class="paragraph">Still, it would likely be unwise to lose sight of the fact that the flagship digital assets recent decline comes as a correction to an impressive overall 2024 surge, which even saw a new all-time high (ATH) at $73,000 in March.</p>
 <p class="paragraph">Indeed, despite the bloodbath, Bitcoin remains 39.58% in the green year-to-date (YTD) in the crypto markets.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/boom-or-bust-experts-reveal-bitcoin-price-that-will-determine-its-fate-tbt87006.html">https://thebittimes.com/boom-or-bust-experts-reveal-bitcoin-price-that-will-determine-its-fate-tbt87006.html</a></p>

Boom or bust? Experts reveal Bitcoin price that will determine its fate

Table of Contents

TheBitTimes

Other articles published on Apr 30, 2024

Cryptocurrency Community READY TO FIGHT: $RTF Token from Oleksandr Usyk's Project Listed on White...

Crypto Prices Today April 30: Bitcoin Holds 63K, ETH Extends Decline, Helium & XRP Surge

Ripple CTO Ends Speculation on XRP Holdings

Top Crypto Gainers Today Apr 30 – Avalanche, SafePal, Waves, Amp

Ordi Price Prediction: Is $39 the Line in the Sand for Bulls

Poloniex Hacker Moves $32M in Bitcoin

Join our free newsletter for daily crypto updates!