Reserve

Jerome Powell

Bitcoin

April

Bitcoin’s price has initiated a fresh downturn subsequent to encountering resistance around the $70,000 mark. As a consequence, BTC has experienced a decrease exceeding 5.61%, with a breach below the critical support level of $67,500. Will Bitcoin price crash again to $50,000 before the upcoming Bitcoin halving? Let’s take a look at this&nbsp;<a href="https://cryptoticker.io/en/bitcoin-price-prediction-will-bitcoin-reach-100000-soon-enough/">Bitcoin price prediction</a>&nbsp;article in more detail.
<h2 id="h-bitcoin-price-prediction-how-has-the-bitcoin-price-moved-recently">Bitcoin Price Prediction: How has the Bitcoin price moved recently?</h2>
<img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2024_04_02_10_19_41_b247f357cf.png" alt="">
As of the latest update, the price of Bitcoin is $66,392, accompanied by a 24-hour trading volume of $59.51 billion. Its market capitalization stands at $1.31 trillion, while its dominance in the market is at 51.80%. Over the past 24 hours, Bitcoin’s price has experienced a decline of -5.61%.
Bitcoin reached its peak price on March 14, 2024, achieving an all-time&nbsp;<a href="https://cryptoticker.io/en/bitcoin-price-prediction-to-70000/">high of $73,628</a>. Conversely, its all-time low of $0.050000 was recorded on July 17, 2010. Since attaining its all-time high, Bitcoin’s lowest price has been $60,942 (cycle low), and its highest price has been $71,646 (cycle high). Presently, the sentiment surrounding Bitcoin’s price prediction is neutral, while the Fear &amp; Greed Index stands at 79, indicating extreme greed.
The current circulating supply of Bitcoin is 19.67 million BTC out of a maximum supply of 21.00 million BTC. The annual supply inflation rate is presently at 1.78%, leading to the creation of 343,788 BTC in the past year.
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<h2 id="h-bitcoin-price-prediction-can-a-strong-correction-happen-again">Bitcoin Price Prediction: Can a strong correction happen again?</h2>
Bitcoin encountered difficulties in establishing stability above the $70,000 resistance threshold. Following the breach of the $69,200 support level, BTC responded with a downward trajectory. This descent intensified with a notable break below the $68,500 mark.
Subsequently, the price further depreciated below $67,000, ultimately reaching a critical point near $66,000 with a bearish inclination. A trough was established in the vicinity of $65,992, from which the price is currently endeavoring to initiate a recovery phase. Notably, there has been a movement surpassing the $66,800 level in this recovery attempt.
On March 31, within the daily timeframe, Bitcoin’s price reached its zenith at $70,763, positioning itself for a monthly closure with a 17% increase. Nevertheless, the recent statement issued by US Federal Reserve Chairman Jerome Powell has ignited optimism among Bitcoin traders, potentially catalyzing a favorable beginning to April 2024.
On Friday, March 29, Powell conveyed to reporters that there is “no reason” to speculate that the risks of a US recession are heightened. Due to this, the possibility of strong correction.
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<h2 id="h-bitcoin-price-prediction-will-it-reach-80-000-before-bitcoin-halving">Bitcoin price Prediction: Will it reach $80,000 before Bitcoin halving?</h2>
Should Bitcoin prove unable to surpass the resistance zone at $68,000, a continuation of its downward trajectory may be anticipated. Immediate support on the downside is anticipated around the $66,000 mark.
The initial significant support level rests at $65,000, followed by a subsequent support level at $64,000. In the event of a close below $64,000, there is potential for the price to initiate a decline towards the $62,500 threshold. Further losses beyond this point could prompt a descent towards the support zone at $60,500 in the near future.
Analyzing the current trends and&nbsp;<a href="https://cryptoticker.io/en/crypto-news-bitcoin-price-to-1-million/">factors influencing Bitcoin’s price</a>, there are several indicators suggesting a potential for further upward movement. Over the past year, Bitcoin has demonstrated remarkable growth, surging by 140%. This impressive performance not only outpaced a majority of the top 100 crypto assets but also surpassed Ethereum, a significant competitor in the cryptocurrency market.
Furthermore, Bitcoin’s price is currently trading above its 200-day simple moving average, indicating a bullish sentiment in the market. Additionally, with 17 green days out of the last 30, representing 57% of the trading days, there appears to be sustained positive momentum.
<a href="https://cryptoticker.io/en/bitcoin-price-explodes-btc-price/">Considering Bitcoin’s high liquidity</a>, as evidenced by its substantial market capitalization, there is ample room for significant price movements. The current price of $66,657.13 underscores the asset’s strength and stability.
In light of these factors, it is plausible to anticipate Bitcoin’s price continuing its upward trajectory and reaching $80,000 before the Bitcoin halving in April 2024.
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<h2 id="h-buy-cryptos-with-bitget-with-the-cheapest-fees">Buy Cryptos with Bitget with the CHEAPEST Fees</h2>
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Will Bitcoin Price Crash Again to $50,000 Before Bitcoin Halving?

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