Bitcoin Poised to Enter Lenghty Re-Accumulation Phase as Pullback Hits 18%

Bitcoin has now retreated 18% from its all-time high of $73,737 on March 14, tapping $60,000 during late trading on April 17.are a healthy part of market cycles, however, and analysts agree that this one may not be over yet despite the halving being just a couple of days away.Bitcoin has produced two 18% retraces prior to the halving in the span of just over a month, the analyst observed.

Now that the correction may be coming to a conclusion, markets will enter a re-accumulation phase after the halving, he predicted. Bitcoin traded sideways for around five months following the 2016 and 2020 halving events, so if history rhymes, markets could remain range-bound at high $50k levels until around October this year.

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.

Bitcoin Cash & Bitcoin SV Pumping as Bitcoin Minetrix Nears Exchange ListingCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin & Bitcoin Cash Among Top Crypto Gainers as Crypto Prices Pump: What About Green Bitcoin?Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin (BTC) and Ethereum (ETH) Getting Crushed. Is Bull Run Over?Is Bitcoin poised for more upside following a very severe drop?
Source: Utoday_en - 🏆 295. / 63 Read more »

Bitcoin (BTC) to Test $80K Before Upcoming Halving, Says Top AnalystBitcoin poised for significant price movement as it approaches pre-halving peak
Source: Utoday_en - 🏆 295. / 63 Read more »

Chinese Asset Managers Enter Bitcoin ETF Market via Hong Kong SubsidiariesSome of China's biggest asset managers, including Harvest Fund and Southern Fund, are using their Hong Kong subsidiaries to enter the Bitcoin ETF market. They have submitted applications and are awaiting regulatory approval, reflecting growing institutional interest in Bitcoin despite China's previous hostility towards it. Approval of Bitcoin ETF products from influential institutions could validate Bitcoin in the eyes of Chinese regulators and investors.
Source: BitcoinMagazine - 🏆 461. / 53 Read more »

Once unprofitable BTC miners are turning their machines back on — AnalystPreviously unprofitable Bitcoin miners may now be coming back online amid Bitcoin’s recent price rise.
Source: Cointelegraph - 🏆 562. / 51 Read more »