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Bitcoin headed for ‘screwy price action’ after 64% surge in first quarter

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Crypto analysts predict turbulence for Bitcoin both before and after the halving, suggesting not to overly rely on past halving cycles as predictive models.

Bitcoin recorded its third-strongest quarter over the past three years in Q1, but analysts say the meteoric rise could add to a choppy year ahead for Bitcoin.) recorded one of its strongest quarters in the past three years in Q1, but analysts warn this could lead to significant volatility in the lead-up to the Bitcoin halving.

At the beginning of the quarter, it stood at $44,172 on Jan. 1, and by the quarter’s end, it had reached $71,255.However, Desmond argues that the consistent pattern of outperforming price performance in weekly and monthly closings signals unprecedented market conditions. However, investor sentiment regarding the short-term direction of Bitcoin’s price seems to be rather neutral.

 

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