Bitcoin

April

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/significant-price-movements-in-the-bitcoin-market/" data-wpel-link="internal">Significant Price Movements in the Bitcoin Market</a> 
Kripto paralar tarafında halving sonrası büyük bir fiyat yükselişi beklentisi bulunuyordu. Bu yükseliş beklentisi daha sonrasında yerini derin bir düşüşe bırakmıştı. Piyasada yükseliş iyimserliği tam anlamıyla kaybolmamış olsa da analistlerin yaptığı yorumlar da dikkat çekmeye devam ediyor. 
<h2 id="analyst-s-view-on-the-bitcoin-market">Analyst’s View on the Bitcoin Market</h2> 
One of the closely followed figures in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> stated that <a href="https://en.coin-turk.com/analysts-anticipate-a-short-term-drop-yet-long-term-rise-in-bitcoin-value/" data-wpel-link="internal">Bitcoin</a> (BTC) has entered the reversal phase after the correction following the halving period. 
Rekt Capital, a well-known analyst, informed his thousands of followers on the social media platform X that Bitcoin followed the model of the 2016 <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> cycle, which showed a decline during the ‘danger zone’ period after the halving event, and then reached all-time highs (ATHs). 
Bitcoin, after the halving event in April where miners’ rewards were halved, may have emerged from a historic correction period in the weekly chart view, the analyst explained. 
<blockquote> 
 After the halving, the ‘danger zone’ (purple) officially ended. And Bitcoin is celebrating this by making a strong bounce from the low support of the accumulation range. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-351005" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-rekt-bitcoin-coin-turk-com.png" alt="" width="1143" height="770"> 
According to the analyst, after Bitcoin touched the $56,000 level recently, it is highly likely that the bottom of the post-halving cycle has also been seen. 
<blockquote> 
 If $56,000 is not the bottom point, then this current pullback will officially equal the longest pullback in this cycle at 63 days. However, history shows that this current pullback ended at $56,000 and 47 days. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-351006" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-rekt-bitcoin2-coin-turk-com.png" alt="" width="1153" height="768"> 
According to the analyst, the critical support level for Bitcoin is at $60,000, while momentum is developing upwards, which could potentially push BTC back to $68,000. 
<blockquote> 
 Bitcoin is showing early signs of slowing momentum on the sell side and is slowly developing a curl against the ~$60,000 support. This curl needs to continue holding as it has so far in order to progress and eventually rise. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-351007" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-rekt-bitcoin-3-coin-turk-com.png" alt="" width="1149" height="766"> 
<h2 id="current-state-of-bitcoin">Current State of Bitcoin</h2> 
Bitcoin, after experiencing an increase of over 2% in the last 24 hours, continues to trade at $62,800 as of this writing. Alongside, the market cap has also surpassed $1.235 trillion. 
Bitcoin’s 24-hour trading volume has left the $27 billion mark behind following a 104% increase, revealing a doubling of investor interest. A further price increase in the future could potentially elevate the trading volume to even higher levels. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/significant-price-movements-in-the-bitcoin-market/" data-wpel-link="internal">Significant Price Movements in the Bitcoin Market</a></h5>

Significant Price Movements in the Bitcoin Market

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