2024

Bitcoin

April

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predicted-to-climb-post-halving-event/" data-wpel-link="internal">Bitcoin Price Predicted to Climb Post-Halving Event</a> 
Analysts predict a significant increase in the price of <a href="https://en.coin-turk.com/grayscale-development-paves-the-way-for-spot-bitcoin-etf-approval/" data-wpel-link="internal">Bitcoin</a>, the world’s largest crypto asset, despite a roughly 15% drop from its all-time high of $73,738 in the last six days following the halving event. Charles Edwards, founder of Capriole Fund, stated in a post shared on March 19th that it is normal for Bitcoin to be highly volatile in the months surrounding a halving event. 
<h2 class="p1" style="text-align: justify" id="prominent-figures-make-noteworthy-statements">Prominent Figures Make Noteworthy Statements</h2> 
Charles Edwards pointed out that the 12 months following the event would be the best risk-reward period for investors. He also suggested that inefficient miners would shut down after the planned Bitcoin halving event between April 18-20. According to CoinGecko data, Bitcoin was trading at $61,684 at the time the article was written. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-330518 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/charles.jpg" alt="" width="741" height="357"> 
Edwards expressed optimism for the long-term price movement, even though the correction seemed not to have ended yet, sharing the following statement: 
<blockquote> 
 “A much lower supply growth rate + the unlocking of suppressed Tradfi demand will come into play later, initiating historically the best 12-month risk-reward period for Bitcoin.” 
</blockquote> 
While Edwards highlighted the halving event as a primary factor for Bitcoin’s price movements, Ki Young Ju, founder and CEO of CryptoQuant, claimed that Bitcoin’s price is fueled not by the halving event but by spot Bitcoin exchange-traded fund flows, sharing the following: 
<blockquote> 
 “Mining expenses will double after the halving event, pushing miners to maintain certain prices for profitability. The direct cost per Bitcoin will rise to about $37,000, but at $63,000, this is no longer a problem for them.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-330516" src="https://coin-turk.com/wp-content/uploads/2024/03/ki-tweet.jpg" alt="" width="500" height="241"> 
<h2 class="p1" style="text-align: justify" id="bitcoin-and-the-halving-process">Bitcoin and the Halving Process</h2> 
<a href="https://en.coin-turk.com/crypto-investment-report-highlights-epic-week-for-investors/" data-wpel-link="internal">Crypto</a> analyst Rekt Capital told his 430,000 followers on Twitter that he is convinced there is more room for Bitcoin to fall and emphasized that Bitcoin has entered a danger zone where historical pre-halving pullbacks have started, sharing the following: 
<blockquote> 
 “Bitcoin will experience a deep pullback that will convince you the bull market is over, and then it will continue its upward trend.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-330515 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/rekt-btc.jpg" alt="" width="1794" height="1202"> 
The Bitcoin price fell by about 50% in the months before the 2020 halving event, but the declines intensified with the COVID-19 outbreak in March. However, the remainder of that halving year was spent consolidating around $10,000 before the bull market resumed in 2021. 
Looking back, Bitcoin prices fell by 33% during the 2016 halving event, ended the year with gains, and entered a bull market in 2017, peaking at $20,000. However, the 2024 halving event is largely uncharted territory, having occurred well below Bitcoin’s relative peak price and without significant institutional support provided by spot Bitcoin ETFs. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predicted-to-climb-post-halving-event/" data-wpel-link="internal">Bitcoin Price Predicted to Climb Post-Halving Event</a></h5>

Bitcoin Price Predicted to Climb Post-Halving Event

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