Bitcoin

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<ul>
 <li>In the long-term perspective, Bitcoin continues to trade under bullish influence. Despite short-term price fluctuations, the leading crypto maintains a strong upward trend.</li>
 <li>Despite the bullish outlook for Bitcoin, the likelihood of the price displaying another bull run similar to 2020-21 is low.</li>
 <li>It is important for the Bitcoin (BTC) price to maintain a higher trend, while the halving and spot ETF can act as powerful catalysts.</li>
</ul>
<p><strong>Bitcoin (BTC) is attempting to strengthen above $38,000, but it is still far from the analyst’s view of the pre-halving peak!</strong></p>
<h2 id="strong-what-dollar-amount-is-bitcoin-aiming-for-before-the-halving-strong"><strong>What Dollar Amount is Bitcoin Aiming for Before the Halving?</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126538" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Bitcoin-BTC" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-41-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>In the long-term perspective, Bitcoin continues to trade under bullish influence. Despite short-term price fluctuations, the leading crypto maintains a strong upward trend. However, the price has not yet reached specific levels, so the speed of the upcoming bull run remains uncertain.</p>
<p>Bulls had previously displayed a more optimistic outlook leading up to the Bitcoin halving. Buying pressure had rapidly accumulated, lifting the price from interim lows to pre-halving highs in a short timeframe. Unfortunately, according to a popular analyst, the token is currently exhibiting a diverse trend as it failed to secure pre-halving highs.</p>
<figure id="attachment_131917" aria-describedby="caption-attachment-131917" style="width: 100%" class="wp-caption alignnone"><a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?quality=70&amp;ssl=1" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" class=" td-modal-image wp-image-131917 size-full" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=696%2C592&amp;quality=70&amp;ssl=1" alt="Bitcoin-Halving-Predictions" width="696" height="592" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?w=1037&amp;quality=70&amp;ssl=1 1037w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=300%2C255&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=1024%2C871&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=768%2C653&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=150%2C128&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/11/Bitcoin-Halving-Predictions.webp?resize=696%2C592&amp;quality=70&amp;ssl=1 696w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-131917" class="wp-caption-text">
  Halving Predictions
 </figcaption>
</figure>
<p>Referencing the chart above, the analyst believes the price has not reached the pre-halving peak, which is approximately a level up to $48,000, about 30% below the previous peak. Therefore, the expectation is that the price will move to this level in the upcoming rally, potentially pushing it above $50,000. However, the analyst also warns that after reaching a new all-time high, BTC price may experience a ‘halving bottom’:</p>
<blockquote>
 <p>“The pre-halving peak has not been reached yet. We are targeting $48K-$50K. A new ATH after the post-halving bottom.”</p>
</blockquote>
<h2 id="strong-may-not-resemble-the-previous-bull-run-strong"><strong>May not resemble the previous bull run</strong></h2>
<p>Despite the bullish outlook for Bitcoin, the probability of the price displaying another bull run similar to 2020-21 is low. The current scenario is entirely different, as the crypto space is now subject to various regulations. Moreover, a significant decrease has been recorded in trading volume, users, and exchanges. Therefore, it is essential for Bitcoin (BTC) to maintain a strong upward trend, with the halving and spot ETF potentially acting as powerful catalysts.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/bitcoin-may-not-have-reached-its-pre-halving-peak-yet-whats-the-target-in-dollars/">Bitcoin May Not Have Reached Its Pre-Halving Peak Yet: What’s the Target in Dollars?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Bitcoin May Not Have Reached Its Pre-Halving Peak Yet: What’s the Target in Dollars?

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