Rally

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitfinex-predicts-bitcoins-two-month-consolidation-highlights-ethers-market-dominance/">Bitcoin Prediction: Post-Halving Slump Making Way for Altcoin Surge?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As Bitcoin embarked on its <a href="https://coinpedia.org/news/planb-bitcoin-prediction-may-2024-analyst-sets-btc-target-to-100000-by-year-end/">post-halving adventure</a>, the cryptocurrency market witnessed a fascinating tale of highs and lows, leaving analysts pondering its next move. </p> 
<p>Initially soaring to $64,000 on the halving day, Bitcoin briefly flirted with $67,000 before gradually descending, eventually slipping below <a href="https://markets.coinpedia.org/bitcoin/">$57,000</a> by May 1st. Currently standing at $57,362, with a 7% dip over 24 hours and a significant 17% slide over the past month, Bitcoin’s path seems to be marked by a phase of volatile consolidation in the near future.</p> 
<p>What lies ahead for the king? Let’s find out.</p> 
<h2 class="wp-block-heading" id="h-insights-from-bitfinex"><strong>Insights from Bitfinex</strong></h2> 
<p>In a recent report, <a href="https://blog.bitfinex.com/wp-content/uploads/2024/04/Bitfinex-Alpha-102.pdf">Bitfinex analysts</a> projected Bitcoin to hover within a price range, swinging by $10,000 on either side. They attributed this trend to a growing appetite for risk among investors, especially in alternative cryptocurrencies post-halving. They believe that the full impact of reduced Bitcoin supply on its price may unfold in the coming months, particularly as economic conditions show signs of improvement.</p> 
<h2 class="wp-block-heading" id="h-altcoins-on-the-rise"><strong>Altcoins on the Rise?</strong></h2> 
<p>Contrary to traditional views, some analysts advocate for directing investment focus towards altcoins, arguing that they offer more promising returns in the current climate.</p> 
<p><strong>Its Bitcoin vs Altcoins Now…!</strong></p> 
<p>A closer look at technical analysis reveals Bitcoin’s declining market dominance, with attention gradually shifting towards altcoins, notably Ether (ETH), which has consistently outperformed Bitcoin in gains. This tilt towards alternative cryptocurrencies mirrors previous post-Bitcoin halving patterns, as reduced supply growth entices investors towards potentially more rewarding opportunities.</p> 
<h2 class="wp-block-heading" id="h-what-s-behind-btc-consolidation-nbsp"><strong>What’s Behind BTC Consolidation?&nbsp;</strong></h2> 
<p>Additionally, on-chain analysis <a href="https://x.com/_Checkmatey_/status/1785830025029451840" target="_blank" rel="noreferrer noopener">suggests </a>a gradual “de-leveraging” across Bitcoin futures since mid-March’s all-time highs, further contributing to Bitcoin’s consolidation phase. Bitcoin’s recent price drop, as observed by Greenspan, was somewhat expected given the downturn in the stock market and overall economic situation. Some analysts had predicted this decline after Bitcoin’s fourth halving, with JPMorgan forecasting a potential drop to $42,000 in March 2024.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">For those of you around in the 2021 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bull market, you will remember the massive derivatives led deleveraging events which killed it.<br><br>Are we seeing a derivatives led flush out today?<br><br>I don't think so. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Funding rates have cooled off gradually, not violently, which is… <a href="https://t.co/KSDoAMCVSF">pic.twitter.com/KSDoAMCVSF</a></p>— _Checkmate 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f511.png" alt="🔑" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2622.png" alt="☢" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6e2.png" alt="🛢" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@_Checkmatey_) <a href="https://twitter.com/_Checkmatey_/status/1785830025029451840?ref_src=twsrc%5Etfw">May 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>However, Markus Thielen, CEO of 10x Research, suggested Bitcoin might fall to $52,000, citing a slowdown in funds flowing into <a href="https://coinpedia.org/news/first-day-of-hong-kongs-etf-disappoints-as-bloodbath-continues/" target="_blank" rel="noreferrer noopener">Bitcoin exchange-traded funds</a> (ETFs) as a primary reason for the recent rally’s slowdown. </p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/is-this-bitcoins-final-dip-exploring-the-local-bottom-of-the-cycle/">Has Bitcoin Hit the Bottom? Analyst Says “Buy the Dip” as Rally Looms</a></p> 
<p><strong>Are you adjusting your cryptocurrency investment strategy based on these predictions?</strong></p>

Bitcoin Prediction: Post-Halving Slump Making Way for Altcoin Surge?

Mục lục

CoinPedia News

Các bài viết khác được xuất bản trên 2 thg 5, 2024

Dogecoin Enters Major Accumulation Zone, Is It Time To Get Back In?

Whales Return To Solana Meme Coins As Sealana Crypto ICO Raises $100,000 in Minutes

Synethix founder Kain Warwick targets mid-May launch for Infinex DEX

MicroStrategy Orange; A Bitcoin-Based Decentralized ID Platform

Bitcoin Hasn’t Hit the Bottom Yet, Says Standard Chartered

Pepe Price Prediction: PEPE Pumps 10% As The Dogeverse ICO Smashes Past $13 Million

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!