Future

Cryptocurrency

Bitcoin

when

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-performance-and-future-prospects/" data-wpel-link="internal">Bitcoin’s Performance and Future Prospects</a> 
The cryptocurrency Bitcoin continued to underperform in May, and it even recovered from a terrible low. It still hasn’t moved away from the $60,000 level, so <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>‘ legitimate concerns persist. Is what’s coming an opportunity for cryptocurrency investors? What should investors expect now? 
<h2 style="text-align: justify" id="will-bitcoin-btc-rise">Will Bitcoin (BTC) Rise?</h2> 
Bitcoin’s price bottomed out at $60,630 in the last 24 hours and was found buyers at $62,350 at the time of writing. Popular analysts are struggling to predict which direction will break out from the current narrow range. Which way? A chart shared by <a href="https://en.coin-turk.com/august-predictions-for-matic-ltc-and-dot/" data-wpel-link="internal">crypto analyst</a> Rekt Capital shows that the area that acted as resistance when BTC reached its all-time highs is being tested. 
The analyst remains hopeful due to the price maintaining a key level despite halving sales. 
<blockquote> 
 “On a monthly timeframe, Bitcoin is still retesting the old All-Time High main resistance area (red) as new support (green).” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-349700 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/rektcapital-btc-mayis.jpeg" alt="" width="1200" height="847"> 
Analyst named Moustache also shared a three-day chart, speaking optimistically about the price lingering in the ATH region. According to Moustache, this situation has only occurred twice before: in 2017 and 2020. And in both periods, the upward trend was maintained followed by new peaks. 
<blockquote> 
 “After reclaiming the line in 2012, 2016, and 2020, Bitcoin was just getting started. This will go much higher.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-349701 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Moustache-btc.png" alt="" width="1184" height="1177"> 
<h2 style="text-align: justify" id="cryptocurrency-commentary">Cryptocurrency Commentary</h2> 
According to data provided by Santiment, Bitcoin whales continue to see dips as entry opportunities. This means a big opportunity could soon come to investors’ feet. If BTC indeed starts a quick recovery process as expected, this could offer massive profit realization opportunities in rapidly devalued altcoins. 
“Wallets holding 1K-10K $BTC have collectively reached a new peak by accumulating ~$941M worth of BTC.” 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-349702 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/santiment-balinalar.png" alt="" width="1978" height="1103"> 
Data from CryptoQuant indicates that the BTC balance on exchanges has dropped by 6.54% in the last 90 days. This suggests that more investors are focusing on long-term goals. Despite so much negativity on the macroeconomic front and the SEC’s tight grip on crypto, current <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer"></a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> conditions may not be that bad. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-349703" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-borsa-arz.png" alt="" width="2158" height="1121"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-performance-and-future-prospects/" data-wpel-link="internal">Bitcoin’s Performance and Future Prospects</a></h5>

Bitcoin’s Performance and Future Prospects

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