bullish

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-all-time-high-before-halving/" data-wpel-link="internal">Bitcoin Reaches All-Time High Before Halving</a> 
The year 2024 started rapidly for Bitcoin . On January 10, 2024, the launch of spot Bitcoin ETFs led to a noticeable increase in <a href="https://en.coin-turk.com/bitcoin-mining-revenues-hit-record-highs/" data-wpel-link="internal">BTC</a> trading volume, and institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ approaches visibly changed. This shift caused an interesting event: Bitcoin reached its all-time high before the halving. It was discussed that ETFs had a significant impact on this change within the cycle. BTC rose to $73,500 but subsequently experienced a sharp decline. Today, analysts’ complex expectations continue to reflect in their views. 
<h2 style="text-align: justify" id="analysts-bitcoin-commentary">Analysts’ Bitcoin Commentary</h2> 
In recent days, as cryptocurrencies experienced a deep decline, analysts presented different views. Some maintained their bullish expectations, while others expressed their concerns. However, it was understood from their statements on X that two analysts shared similar views. 
First, leading analyst Micael van de Poppe’s X post suggested that the bad days might be nearing an end. 
Van de Poppe made the following statement: 
<blockquote> 
 Yes, indeed. A drop to take liquidity. 
 Likely a short upward bounce in #Bitcoin before pulling liquidity below $52.5k, potentially creating a bullish divergence and reversing. Otherwise, $48k is next. The pain is almost over. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-386762" src="https://coin-turk.com/wp-content/uploads/2024/09/van-de-poppe-bitcoin-coin-turk-com.png" alt="" width="1611" height="852"> 
On the other hand, Yoddha, known for his comments on X, pointed to the previous cycle and emphasized a similar process, stating: 
<blockquote> 
 Here is a detailed summary comparing the current price action with the previous #Bitcoin rally: 
 2017 -&gt; Peak &lt;- 2021 
 2018 -&gt; Correction &lt;- 2022 
 2019 -&gt; Bottom &lt;- 2023 
 2020 -&gt; First new peak &lt;- 2024 
 2021 -&gt; Bull euphoria &lt;- 2025 
</blockquote> 
<h2 style="text-align: justify" id="how-much-is-1-bitcoin">How Much is 1 Bitcoin?</h2> 
Today, Bitcoin’s decline continued. Recently, BTC’s price fell below $53,000, almost reaching $52,500. Currently, after a 4.34% drop in the last 24 hours, the price stands at $53,700. 
The RSI value for BTC indicates 34.23, suggesting it is approaching the oversold region, which could potentially lead to a price bounce, although this is not certain. 
The market cap for BTC has fallen to $1 trillion, while the trading volume has exceeded $48 billion. 
The post <a href="https://en.coin-turk.com/bitcoin-reaches-all-time-high-before-halving/" data-wpel-link="internal">Bitcoin Reaches All-Time High Before Halving</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Reaches All-Time High Before Halving

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