Bitcoin

when

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-bitcoin-price-trends-and-market-analysis/" data-wpel-link="internal">Recent Bitcoin Price Trends and Market Analysis</a> 
The past few days have brought about a complete devastation in the world of cryptocurrencies. <a href="https://coin-turk.com/bitcoine-yuzde-80-yukselis-getiren-tablo-yine-gorundu" data-wpel-link="internal">Bitcoin</a> price had soared above $73,500 following consecutive all-time highs last month. Today, however, just hours before the halving, the scenario looks entirely different. So, what do the experts say about <a href="https://en.coin-turk.com/traditional-finance-giants-step-into-crypto-spurring-bright-future-for-bitcoin/" data-wpel-link="internal">Bitcoin</a>? 
<h2 style="text-align: justify" id="analyst-s-commentary-on-bitcoin">Analyst’s Commentary on Bitcoin</h2> 
Bitcoin’s (<a href="https://coin-turk.com/gorunen-koy-kilavuz-istemiyor-detayli-bitcoin-btc-teknik-analizi" data-wpel-link="internal">BTC</a>) price has entered a downward trend influenced by the emerging war scenario in the Middle East and escalating tensions, failing to maintain stability above the $65,000 mark before the halving. 
In these days when Bitcoin appears to have lost its bullish outlook, many investors continue to follow <a href="https://en.coin-turk.com/current-status-of-spot-bitcoin-etfs/" data-wpel-link="internal">BTC</a>‘s price movements. The upcoming halving event remains particularly significant during this period. 
In this context, cryptocurrency expert Ali Martinez, shared a post on X (formerly Twitter) on April 16. During this period, he highlighted notable resistance and support levels that investors should monitor specifically for BTC. 
According to the expert, Bitcoin is currently in a consolidation phase within a parallel channel, and the chart clearly shows support at $61,000 and resistance at $72,400. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340820" src="https://coin-turk.com/wp-content/uploads/2024/04/ali-charts-btc-coin-turk-com.png" alt="" width="676" height="429"> 
Martinez, based on this chart, stated that Bitcoin could move in either direction. A potential breakdown below the mentioned support could push Bitcoin below the $50,000 level. 
Conversely, a potential upward movement, if bulls take control of BTC’s movement, could reach new highs and move above $80,000. 
Despite the approval of spot crypto exchange-traded funds (ETFs) by regulators in Hong Kong, Bitcoin’s price movement has reflected a decline without nearing the $70,000 level. 
This step offers Hong Kong and Chinese investors a new chance to invest following the crypto bans that emerged in 2021. Whether Hong Kong ETFs will bring about a Bitcoin rally similar to those seen in the US markets is also being questioned. 
<h2 style="text-align: justify" id="bitcoin-price-outlook">Bitcoin Price Outlook</h2> 
After the initial drop, Bitcoin retreated from the level it reached, around $66,300, and is trying to regain the $63,000 level. 
As of writing, Bitcoin, is finding buyers at the $62,500 level, and a nearly 5% correction has been observed in the last 24 hours. It wouldn’t be wrong to say that investors are acting nervously due to the war events and expectations surrounding the halving. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-bitcoin-price-trends-and-market-analysis/" data-wpel-link="internal">Recent Bitcoin Price Trends and Market Analysis</a></h5>

Recent Bitcoin Price Trends and Market Analysis

Innehållsförteckning

COINTURK NEWS

Andra artiklar publicerade 16 apr. 2024

Ripple Faces Critical Pre-Trial Conference with SEC

New Solana Memecoin Rallies 1,350%, Prepares to Deliver 2,300% ROI and Challenge SHIB and DOGE

All Eyes on Ripple vs SEC: Final Arguments to Determine XRP Price

Kelexo (KLXO) Sets New April Records: Lending Platform Presale with 20X Profits Captivates Solana...

Stocks and crypto at the edge of ‘significant’ correction: 10x Research

Exploring Bitcoin’s Potential for Major Price Movements

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!