Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-bitcoins-next-move" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Bitcoin’s Next Move</a><br></p>
<p style="text-align: justify">On May 24, cryptocurrencies seemed to overlook the recent approval of the spot ETH ETF. Despite this, <a href="https://en.bitcoinhaber.net/bitcoin-miners-curtail-exchange-supplies-prior-to-halving-event" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> remains the primary focus. Analysts are providing insights on potential price movements, as Bitcoin hovers near its all-time high.</p>
<h2 id="how-low-can-bitcoin-drop">How Low Can Bitcoin Drop?</h2>
<p style="text-align: justify">Following significant <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a>, cryptocurrencies often experience price drops, a pattern also seen with ETF approvals. Investors had anticipated a strong sell-off during BTC ETF approval, which caused initial worry. Currently, Bitcoin is maintaining its value near its peak, though cautious sentiment persists among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> after the positive SEC news.</p>
<p style="text-align: justify">Crypto analyst Mags highlights that Bitcoin’s recent failure to surpass its all-time high may lead to a support test around $65,000. Mags suggests that consolidation at this level is probable before the next upward movement.</p>
<h2 id="when-will-bitcoin-hit-bottom">When Will Bitcoin Hit Bottom?</h2>
<p style="text-align: justify">Analyst George references the price behavior observed on March 14, noting a potential drop to $60,000. He emphasizes the importance of identifying the right entry points for long positions, predicting a significant rise from either the current level or a local bottom area.</p>
<p style="text-align: justify">Expert Poppe echoes these sentiments, predicting prolonged consolidation for Bitcoin, potentially reaching levels between $61,000 and $63,000.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Monitor Bitcoin’s resistance near the $65,000 range.<br> – Watch for consolidation patterns as indicators for entering long positions.<br> – Be aware of economic data, such as the Service PMI, impacting market sentiment.<br> – Understand the Fed’s inflation targets and their effect on risk markets.</p>
<p style="text-align: justify">Additionally, the recent dip in Bitcoin’s value is not entirely attributed to ETF approval. The Service PMI data indicates stronger-than-expected economic activity, leading to inflation concerns. The Fed’s delayed target achievement for 2% inflation has made the market outlook less favorable for high-risk assets.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-bitcoins-next-move" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Bitcoin’s Next Move</a></h5>

Analysts Predict Bitcoin’s Next Move

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