Bitcoin

Momentum

Impact

mirror

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-regains-momentum-after-crash" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Regains Momentum After Crash</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereums-potential-surge-and-bitcoins-predicted-dip-a-turning-point-in-crypto" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is on a recovery path after last week’s major crash, with efforts to reclaim the $56,000 support level. Market sentiment remains cautious as fears of further declines have lowered total market capitalization by 3.3% in the last 24 hours, settling at approximately $2.14 trillion.</p>
<h2 id="what-do-experts-predict">What Do Experts Predict?</h2>
<p style="text-align: justify">Analysts suggest that the cryptocurrency market is likely to mirror the continuous bull run seen in major stock indices this year. Miners, who had paused operations for equipment upgrades, are expected to resume activity soon. The fourth block reward halving event’s impact is also likely to become more apparent as institutional adoption of Bitcoin and altcoins increases.</p>
<p style="text-align: justify">Bitcoin analyst and economist Timothy Peterson forecasts a bullish trend for the fourth quarter of 2024. He states that if Bitcoin closes July above $50,000, it is highly likely to maintain that level until October. Peterson adds that there is a 60% chance of Bitcoin trading higher three months after a 25% drop from its all-time high, and a 25% chance of reaching a new all-time high during the same period.</p>
<h2 id="why-is-market-impact-significant">Why Is Market Impact Significant?</h2>
<p style="text-align: justify">Bitcoin has been in a significant correction phase since last year’s substantial gains. Institutional adoption of Web3 protocols and cryptocurrencies has boosted market liquidity and upward momentum. However, liquidity has started to dry up with the summer season’s onset, which experts cite as a key factor contributing to the decline. They predict this trend will continue until the end of summer.</p>
<h2 id="actionable-insights">Actionable Insights</h2>
<p style="text-align: justify">Investors can derive practical conclusions from current <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>:</p>
<ul>
 <li>Monitor the $50,000 price level closely as it may indicate <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> bullish trends.</li>
 <li>Pay attention to the fourth quarter predictions, as institutional activities could drive significant price movements.</li>
 <li>Be aware of reduced liquidity during the summer, which might lead to increased volatility.</li>
 <li>Consider the impact of the US presidential election and possible interest rate cuts on market trends.</li>
</ul>
<p style="text-align: justify">Despite current uncertainties, the potential for a continued rise in Bitcoin’s price later this year remains strong, influenced by various economic and political factors. As the market navigates these dynamics, interest in Bitcoin and altcoin investments continues to grow among investors and analysts.</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-regains-momentum-after-crash" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Regains Momentum After Crash</a></h5>

Bitcoin Regains Momentum After Crash

Table of Contents

BH NEWS

Other articles published on Jul 8, 2024

Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up...

Binance Accused Of Unauthorized Transactions By Central Bank Of Nigeria

Binance to Remove Four Altcoins

Metaplanet Buys More Bitcoin Despite Economic Challenges

Attention: Is Ethereum Price at Risk? One of the First Ethereum Whales Has Been Selling ETH for D...

Bitcoin's Price Turbulence: Market Reactions, Government Moves, and Strategic Investments

Join our free newsletter for daily crypto updates!