Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
According to Jelle, Bitcoin may be in the cards to form this pattern. This technical analysis points toward a potential upswing for Bitcoin if it successfully breaches the neckline of this pattern and converts a critical resistance level into support. Such a move could catapult the price toward its previous all-time high levels, thereby reinstating market confidence and investor interest., trading at $64,844, which represents a decrease of 2.82% over the last 24 hours.
This downturn is part of a broader market correction, affecting various cryptocurrencies and stemming from multiple factors, including regulatory news, macroeconomic conditions and shifts in investor sentiment. Amid these fluctuations, the crypto community is eagerly anticipating the next Bitcoin halving event, slated for April.
Halving events are significant to Bitcoin’s economic model as they reduce the reward for mining new blocks, effectively cutting the supply of new coins entering the market by half. Historically, these events have led to increased prices due to the reduced supply and increased scarcity of Bitcoin. Analysts predict that the current consolidation phase might continue until the halving before witnessing a potential breakout. The anticipation builds on historical patterns where halvings have been followed by bullish With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »