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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-falls-post-halving">Bitcoin Price Falls Post-Halving</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-edges-toward-peak-as-trading-volumes-surge">Bitcoin</a>‘s price experienced a significant drop following the block reward halving event, dipping below $58,000. This decline also impacted altcoins, causing them to lose value and struggle to return to their early-year peaks. The question on everyone’s mind now is what the future holds for Bitcoin and altcoins after this halving event, and what historical <a href="https://newslinker.co/" rel="nofollow noopener" target="_blank">data</a> can tell us about the effects of past halvings.</p> 
<h2 id="what-do-analysts-predict">What Do Analysts Predict?</h2> 
<p style="text-align: justify">Historically, Bitcoin has reached all-time highs within 12-18 months after previous halving events. However, this cycle saw Bitcoin hit a record high of $73,777 even before the latest halving, driven by a surge in demand through ETF channels and a favorable macroeconomic environment. Analysts continue to scrutinize Bitcoin’s price for further signs of correction, using past cycles as a reference.</p> 
<p style="text-align: justify">Following the May 2020 halving event, Bitcoin’s price climbed from $9,383 to $58,958 by May 2021. Shortly after, the price plummeted 40% to $35,484, influenced by Chinese regulatory actions. Mati Greenspan, founder of Quantum Economics, anticipates significant movements but remains uncertain about the direction, emphasizing the importance of chart analysis awaiting breakouts.</p> 
<h2 id="how-will-bitcoin-perform">How Will Bitcoin Perform?</h2> 
<p style="text-align: justify">Bitcoin recently broke a 6-week losing streak by rebounding to $56,648, with $65,433 marking a crucial level for this reversal. The cryptocurrency’s ability to maintain prices above this key region has given <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">investors</a> hope for new highs. Should the current trend persist, closing above $66,500 could see Bitcoin targeting a resistance zone at $69,000.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<p style="text-align: justify">Investors can derive several actionable insights from the current market dynamics: </p> 
<ul> 
 <li>Monitor Bitcoin’s ability to sustain levels above $65,433 for indications of further upward movement.</li> 
 <li>A close above $66,500 could signal a potential rise toward the $69,000 resistance area.</li> 
 <li>Bitcoin’s performance will have significant ripple effects on altcoins, potentially leading to broader market gains.</li> 
</ul> 
<p style="text-align: justify">As Bitcoin approaches potential resistance points at $71,380 and $73,777, the psychological barrier of $80,000 looms ahead. The once seemingly distant six-figure price target for Bitcoin is now becoming a plausible reality, promising significant implications for altcoins and the broader cryptocurrency market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-falls-post-halving">Bitcoin Price Falls Post-Halving</a></h5>

Bitcoin Price Falls Post-Halving

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