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Topic: What is going to happen with Bitcoin now? - page 2. (Read 1014 times)

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I have seen that after this Bitcoin halving, the price of Bitcoin has decreased a lot. As far as I know that after every halving the price of bitcoin increases exponentially and it increases about 3 to 4 times, but this time I saw that the price of bitcoin has decreased a lot after halving, but I have seen in several places that they say the price of bitcoin is halving. After that it will decrease a bit and then it will increase rapidly. As such, after checking the market today, I saw that After the fall in the price of Bitcoin, the price is slowly increasing again. Bitcoin price was below 57K three days ago and today Bitcoin price is $63,585.10. Does that mean we will see a Bitcoin bull market now? Or will it decrease again? What is your view on Bitcoin?
the price of Bitcoin can increase can also decrease it so I know very well that the price of Bitcoin is unpredictable so many people think that at the price drop in the market and it's going to continue to drop meanwhile is increasing because of more investors are coming in and they don't know that what makes the Bitcoin have more traffic for people who adopt bitcoin like so many companies now have adopted bitcoin so that is one of the things that makes the price of Bitcoin to continue Pushing Up
sr. member
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win lambo...
According to experts when there is a climate change in the world many things change in the world and things are not like before again. And yes everyone was saying that bitcoin price will rise after the halving but the price of bitcoin rise before the halving and it hit the All Time High twice before the halving so some scholars came again to say thY bitcoin has hit it All Time High before the halving therefore it will not come again after the halving but we still have the hope that bitcoin will hit $100k to reach the All Time High in the season.

So we're all waiting the $100k all time high.
You have said it wrong, even next year is still after halving and the fact that bull season is not over yet, we can still expect a big bump in its price. So we have to stop assuming that there is no ATH nor do we think that there are no price improvements after halving because it is still possible.

Of course, I believe there are experts but their expertise never means they are always right as they can be wrong as well. Just think that the market is volatile and even if we are here for a decade or even since the start, we can't still say what really exactly happened in the coming days.
hero member
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There is no need to worry bitcoin is now heading to bull season and i believe that few months from now btc will reach anothe ATH which is above 70k$ to 80k$ if we are going to look at the present price which is 66,900$ then we can say that we are only in a few percent away from 70k$ so i believe the bull season is almost here and we only need to wait for a small period of time.
Today the price of Bitcoin is more than $67K and the price range of $70K is also a normal achievement because price ranges of that size have also occurred and are clearly visible this year. Because the highest price point ever reached by Bitcoin this year was more than $73K, so if you only hope for $70K, that is not a new ATH point for Bitcoin even though it is much more logical to expect from now. However, if you hope for $80K in Bitcoin this year, that is a new high if it can actually be reached this year and also the second ATH this year after previously at $73K more.
sr. member
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When we look at the history of bitcoin price movements after the halving, the price usually increases, but this year it seems very different, the FOMO that bitcoin gives traders means that the price of bitcoin has already made a new ATH before the halving occurs. If we still follow the history of bitcoin price movements, it is possible that next year there will be a bullrun and bitcoin has the potential to reach a new ATH again.
This shouldn't be really an issue, and we could consider the deal as something that will take some time. Of course it is not that clear if we could make money right away, but I think it is going to do fine, which shouldn't be really that much of a situation that is easy, because we should probably see the changes to be a lot more important given enough time but while waiting a lot of people will end up not realizing what kind of benefit we are going to have.

This is why it is going to be a lot of trouble for people who do not know what we are going to do, and because of this we are going to face some people selling earlier than they should, this main reason will cause a lot of trouble for people who do not understand the complete situation we are in right now.
Trust and patience are really what we need when vesting in Bitcoin. But having a lack of knowledge about this will certainly be full of uncertainties and not knowing what they will do next.

Until now, we are still not sure if we have already reached the ATH or not. We believe that history repeats itself and we assume that ATH will come next year but seeing the current situation, we might not know if we already missed it. But we can't lose hope and remain patient until the day the bear season starts again and then say it is over.
MiF
sr. member
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I have seen that after this Bitcoin halving, the price of Bitcoin has decreased a lot. As far as I know that after every halving the price of bitcoin increases exponentially and it increases about 3 to 4 times, but this time I saw that the price of bitcoin has decreased a lot after halving, but I have seen in several places that they say the price of bitcoin is halving. After that it will decrease a bit and then it will increase rapidly. As such, after checking the market today, I saw that After the fall in the price of Bitcoin, the price is slowly increasing again. Bitcoin price was below 57K three days ago and today Bitcoin price is $63,585.10. Does that mean we will see a Bitcoin bull market now? Or will it decrease again? What is your view on Bitcoin?
There is no need to worry bitcoin is now heading to bull season and i believe that few months from now btc will reach anothe ATH which is above 70k$ to 80k$ if we are going to look at the present price which is 66,900$ then we can say that we are only in a few percent away from 70k$ so i believe the bull season is almost here and we only need to wait for a small period of time.
hero member
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving.
Yes, it is just a normal correction. There should be a decrease after an increase. We already hits a new ATH before halving, it is normal if we have a big correction after halving. The Bitcoin price has dropped to $56k, now it is already raising a bit. Few days ago, Bitcoin price increased to $65k but it dropped again to $60k. I think the decrease is still reasonable, it is not dropping very drastically. Because Bitcoin price is still above $60k, we mustn't feel too worried if we set a target for a long term.

But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year.
It is true. After the halving, Bitcoin usually increased significantly again in the next few months. We can see this fact from the 3 previous halvings, all of them showed the same fact. If Bitcoin is in a sideway phase or in a decreasing phase, it is not really surprising because it happened in the previous halvings. We just need to be patient to wait for until the end of this year or until the next year.

When we look at the history of bitcoin price movements after the halving, the price usually increases, but this year it seems very different, the FOMO that bitcoin gives traders means that the price of bitcoin has already made a new ATH before the halving occurs. If we still follow the history of bitcoin price movements, it is possible that next year there will be a bullrun and bitcoin has the potential to reach a new ATH again.
I don't see any difference though in the previous bull run. Yeah, maybe we hit a new all time high before the halving, but it doesn't mean that we won't be sitting a massive bull run after it. And if you look at previous bull run, it will take at least months before we can finally see some semblance of a bull run in the market. So I doubt that we will not see a new all time high for this bull cycle. It's just a matter of time, and we are not even a month from the halving itself to say that there will be no rise, it's too early. For others this could still be a period of accumulation and then see the price at the end of the year, we could be very well looking at 6 digit future, I reckon. It's that we really need to have a lot of patience in this market.

Frankly, we also have no evidence to guarantee that history will repeat itself again, we will have a bull season in a few months. What we can do now is just hope and wait for it to happen, but there isn't any evidence that it will happen. So some people have never experienced a bull season before or look at what happened was bitcoin had its ATH before the halving and it's completely normal for them to be skeptical.

But in the end, whether the bull season comes or not, but in the long run bitcoin will still reach 6 figures and the only issue is time. Investing in bitcoin is a game that requires patience, those who are patient enough will be the ones to receive worthy rewards.
legendary
Activity: 2772
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I don't see any difference though in the previous bull run. Yeah, maybe we hit a new all time high before the halving, but it doesn't mean that we won't be sitting a massive bull run after it. And if you look at previous bull run, it will take at least months before we can finally see some semblance of a bull run in the market. So I doubt that we will not see a new all time high for this bull cycle. It's just a matter of time, and we are not even a month from the halving itself to say that there will be no rise, it's too early. For others this could still be a period of accumulation and then see the price at the end of the year, we could be very well looking at 6 digit future, I reckon. It's that we really need to have a lot of patience in this market.
I do agree that we are going to do very well, it is not going to be all that complicated, people see that we are going to go up, and this means that we are going to probably see a lot of people thinking that they could make money from crypto if they are careful. This is of course not a simple thing, it will take a while before we could see it change.

This is why I believe that the best thing to do right now would be not caring about the results at all, don't look at it currently because it goes up and down, think about the long term future and you will feel more hopeful about it. A lot of people are considering the situation to be risky because they are not aware of the situation, but if all looked at the long term, they would all buy.
sr. member
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving. But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year. Since Bitcoin is the most volatile currency, the price of Bitcoin can rise up or down more than expected level from time to time. In this case, the decision should be taken after careful observation before investment.
Some people will worry because some of them just got a lot of money at stake and they're most likely trading with bitcoin so they want to get some coping mechanism that everything's alright and that they're not actually going to be predicting something wrong will happen. I do agree with your assessment though, sometimes the price just don't want to be surging so much and people don't understand that those times can happen, and I think that instead of worries, it's probably the best time for us to start the accumulation now that the price of bitcoin is at a stable price range because I know that regret will eventually come to a lot of us that doesn't invest now.
hero member
Activity: 2870
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving.
Yes, it is just a normal correction. There should be a decrease after an increase. We already hits a new ATH before halving, it is normal if we have a big correction after halving. The Bitcoin price has dropped to $56k, now it is already raising a bit. Few days ago, Bitcoin price increased to $65k but it dropped again to $60k. I think the decrease is still reasonable, it is not dropping very drastically. Because Bitcoin price is still above $60k, we mustn't feel too worried if we set a target for a long term.

But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year.
It is true. After the halving, Bitcoin usually increased significantly again in the next few months. We can see this fact from the 3 previous halvings, all of them showed the same fact. If Bitcoin is in a sideway phase or in a decreasing phase, it is not really surprising because it happened in the previous halvings. We just need to be patient to wait for until the end of this year or until the next year.

When we look at the history of bitcoin price movements after the halving, the price usually increases, but this year it seems very different, the FOMO that bitcoin gives traders means that the price of bitcoin has already made a new ATH before the halving occurs. If we still follow the history of bitcoin price movements, it is possible that next year there will be a bullrun and bitcoin has the potential to reach a new ATH again.
I don't see any difference though in the previous bull run. Yeah, maybe we hit a new all time high before the halving, but it doesn't mean that we won't be sitting a massive bull run after it. And if you look at previous bull run, it will take at least months before we can finally see some semblance of a bull run in the market. So I doubt that we will not see a new all time high for this bull cycle. It's just a matter of time, and we are not even a month from the halving itself to say that there will be no rise, it's too early. For others this could still be a period of accumulation and then see the price at the end of the year, we could be very well looking at 6 digit future, I reckon. It's that we really need to have a lot of patience in this market.
hero member
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Does that mean we will see a Bitcoin bull market now? Or will it decrease again? What is your view on Bitcoin?

For the long term, Bitcoin is bullish, while you can expect some price rallies and market corrections in the short term. Historically, BTC pumped significantly after halving and reached a new ATH within 2 years, so I am expecting an ATH in 2nd half of 2025. If BTC mimics the past trends, the price could go beyond $200k. Wait for the right moment to maximize your profit, and if you haven't invested yet, try buying Bitcoin when the price dips toward $55k. 
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in my experience, the halving effect sometimes occurs one year after the halving occurs, and it could happen in 2025. I am quite sure that the halving effect will push the price of bitcoin much higher, even beyond the ATH it had reached before the halving occurred. However, the potential for bitcoin prices to reach $100k is still very large. If the price still doesn't rise, I think this is still an opportunity for us to increase the investment we currently have.
That's right, you can see the complete history of bitcoin price movements on coinmarketcap, there we can find out that every year after the halving there will usually be an increase in prices which is often called a bull run or altcoin season, many altcoin prices will increase, Bitcoin too will make a price increase but apparently getting to $100k is difficult to do. Maybe the price of Bitcoin will only reach a new ATH at $80k.
Currently, the Bitcoin movement is stagnant, moving in a range that cannot increase above $70K or fall below $55K and this has continued to happen for the past month. So there are still many possibilities that will happen after the halving period. Many predict that there will be a correction first before it will provide encouragement for Bitcoin to reach high levels.
I think $100K will be possible by the end of this year and ATH will be formed in 2025, so stay patient on all this.
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this is why you must not invest in bitcoin when you are not capable of of risking because this is
truly a type of investment that takes longer time before you can taste the profit .
and also if you wanted to invest in bitcoin you must know how much to wait tasting your product .

Yes. true, BTC is required to be mentally strong and not easily affected by the price of other coins when it drops and the worst possibility is that we will sell BTC to buy other coins. Investing in BTC predominantly uses long-term patterns, whether he is a beginner or not a beginner, or other solutions so as not to be easily affected by the following market corrections, if there is selling pressure from the beginning, just set a percentage of the funds we have, 50% for BTC and the rest for coins, other than stacking everything on the container.
full member
Activity: 2576
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Bitcoin is still strong mate standing now at 60k and above and I believe this is enough to not call bitcoin
decreasing a lot because its not , bitcoin is still in the  highest form so i believe that what will happen is much
better in the coming days or at least months from now?

True. Still quite safe and still very good price, but for those who are not used to (beginners) with this market correction is also enough to make them bored and of course boredom will be born in their minds in waiting for price increases, especially the more purchased the price decreases.

you wanna know why numba go up one day and numba go down the next?
just follow this and you'll know why:
https://sosovalue.xyz/assets/us-btc-spot

And it's a good reference to look at and read as well. Many items are smelly to look at.
this is why you must not invest in bitcoin when you are not capable of of risking because this is
truly a type of investment that takes longer time before you can taste the profit .
and also if you wanted to invest in bitcoin you must know how much to wait tasting your product .
legendary
Activity: 2086
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When we look at the history of bitcoin price movements after the halving, the price usually increases, but this year it seems very different, the FOMO that bitcoin gives traders means that the price of bitcoin has already made a new ATH before the halving occurs. If we still follow the history of bitcoin price movements, it is possible that next year there will be a bullrun and bitcoin has the potential to reach a new ATH again.
This shouldn't be really an issue, and we could consider the deal as something that will take some time. Of course it is not that clear if we could make money right away, but I think it is going to do fine, which shouldn't be really that much of a situation that is easy, because we should probably see the changes to be a lot more important given enough time but while waiting a lot of people will end up not realizing what kind of benefit we are going to have.

This is why it is going to be a lot of trouble for people who do not know what we are going to do, and because of this we are going to face some people selling earlier than they should, this main reason will cause a lot of trouble for people who do not understand the complete situation we are in right now.
hero member
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The price is likely to rise in the remainder of the year to over $100,000, so there is no need to be nervous or despair when there are downturns.
That's what I believe so far here, so keep doing DCA if you want to continue to increase bitcoin holdings on every decline it will be much better than despairing and watching the boring market.
If our target is $100 then there is another 40% increase from the current price around $60k, isn't that the ideal area.  Shocked

Yes, usually people who say that why is bitcoin different this time, after halving there is even a decline, basically every cycle does not run the same, or move the same as the previous time, but bitcoin repeats a new ATH every cycle even though it is not on the same day, month or hour as the previous year, many people are mistaken with the sentence so they don't understand how to respond to the reality of the bitcoin cycle.

The fact is that we cannot be entirely sure what will happen, although based on past cycles we can get an idea of what is most likely to happen. Therefore it is best not to despair, we are at normal price levels that are in line with previous cycles.
Yes things like this do become ambiguous, believe it or not it will be very difficult to predict the market where bitcoin will move, no one is capable of doing that, we certainly realize that bitcoin continues to prove itself, even said to be dead bitcoin continues to grow and get bigger, so yes don't be too apathetic about things we don't know, despair is a poison that will destroy us.
sr. member
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I think there are still many people hoping that after halving bitcoin will be bullish but in reality the price has dropped, it's like new to bitcoin investment because what they see in the news after halving will be bullish, but for me it's not like that bitcoin journey after halving.

Are you going to think short term or long term? If long term never think about the price now you should still continue to buy in the current situation because for example if you target $100K it is still long enough, so it shouldn't matter when the price of bitcoin drops to $57K it could be our chance to buy again.

It is normal for newbies to have the mindset that Bitcoin will have a possible pump during or immediately after halving but the reality becomes the unexpected to them because the fail to understand that Bitcoin possess a switch of mood at all time. Though speculations has been the major problem with newbies, they concentrate on apeculations more than reality, Bitcoin has no definite destination, even the market force sometimes moves in the direction that's not understandable that's why every experienced investor in the Bitcoin setting will advise that investing for a long intervals is better because when you invest and allow your investment to keep fit for long time many events and fluntuation would have taken place and by then you would have been conversant in the system, profit would have been made too, Bitcoin is a continuous process thats why we shouldn't give up, what we ahould be doing at all time is to invest as we can to keep our portfolio intact.
full member
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving.
Yes, it is just a normal correction. There should be a decrease after an increase. We already hits a new ATH before halving, it is normal if we have a big correction after halving. The Bitcoin price has dropped to $56k, now it is already raising a bit. Few days ago, Bitcoin price increased to $65k but it dropped again to $60k. I think the decrease is still reasonable, it is not dropping very drastically. Because Bitcoin price is still above $60k, we mustn't feel too worried if we set a target for a long term.

But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year.
It is true. After the halving, Bitcoin usually increased significantly again in the next few months. We can see this fact from the 3 previous halvings, all of them showed the same fact. If Bitcoin is in a sideway phase or in a decreasing phase, it is not really surprising because it happened in the previous halvings. We just need to be patient to wait for until the end of this year or until the next year.

When we look at the history of bitcoin price movements after the halving, the price usually increases, but this year it seems very different, the FOMO that bitcoin gives traders means that the price of bitcoin has already made a new ATH before the halving occurs. If we still follow the history of bitcoin price movements, it is possible that next year there will be a bullrun and bitcoin has the potential to reach a new ATH again.
legendary
Activity: 2100
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving. But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year. Since Bitcoin is the most volatile currency, the price of Bitcoin can rise up or down more than expected level from time to time. In this case, the decision should be taken after careful observation before investment.
I'm not saying your opinion is wrong, but a mindset like yours is only very suitable for long-term investors. Of course, they are long-term holders who have essentially ignored short-term price volatility. Meanwhile, if you are a trader, price volatility will have an influence on the trading plan itself.

Short-term price volatility should not have a significant impact on the holder's long-term plans. In fact, I believe that holders are very likely to accumulate when the price drop a few percent at a time, which will clearly give them the opportunity to own more bitcoin before the price rises high. Halving can certainly help increase demand for bitcoin indirectly, but this takes a lot of time.

What you've just explained is clearly based on a logical value. I see no business between a long-term investor and volatility. My reason is because, long term investors are indirectly not affected by any current fall in price, as there is still a very big chance of price increase and even great profit as more demands and time goes bye.

Unlike a short-term investor that needs to stay updated with everything especially paying more attention to volatility, rumors and speculations. Failure to stay updated might cost the short-term investor alot as things can happen just in a blink of an eye.

Even if you stay informed every second, every minute, there is no guarantee you will not pay the price, bitcoin is unpredictable and sometimes the market does not always move according to the news. Macro news will impact the market, but sometimes the market will react opposite to that news, so the risk of short-term investing is huge.
For a market as rife with manipulation as cryptocurrency, relying too much on news will ultimately cost us dearly. As many predicted that after the halving, bitcoin would increase in price significantly, but the results were largely disappointing. Long-term investment is the only way to absolutely win in this market and ignore short-term fluctuations.
full member
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in my experience, the halving effect sometimes occurs one year after the halving occurs, and it could happen in 2025. I am quite sure that the halving effect will push the price of bitcoin much higher, even beyond the ATH it had reached before the halving occurred.
but it can happen this year mate , because we have still 8 months after the halving meaning 
we have plenty of time for this to see how would the market be affected of halving as i believe
there is bigger to come sooner or at least in 4th quarter of 2024.

Quote
However, the potential for bitcoin prices to reach $100k is still very large. If the price still doesn't rise, I think this is still an opportunity for us to increase the investment we currently have.
if you really believe that bitcoin will reach 100k then you don;t have to wait some time
instead buy it now while the price is very cheap and while we are waiting for the spike to the moon.
Yes, I believe that we have a lot of time until bitcoin price could go up, I feel like in about 5 months or so we are going to start seeing the price go up. We can't really make it change at all, we just need to make sure that we can do whatever we want to do during this period and won't get to see it go up a lot.
yeah , I also assume that the final bull will happen at least last quarter of this 2024 or in the
starting of 2025 that I thing enough time for bull charging.
Quote
I mean it can go up a bit, like if it reaches 70k then I won't say it started, that is just recovering and that happens sometimes. I mean that huge increases, like going above 100k for example, all of that will probably start around October or so, and when that starts, like I mean the REAL bull run, then it will take a while to stop that, no matter how many bad news comes out, it will keep on going higher and higher during that period.

we have already broken 70k so that is not a counted growth what we hacve to see is at least
75k and above value that we are waiting since march this year.
legendary
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There is no logical reason to worry too much about recent Bitcoin price changes. Because if the Bitcoin price increases slightly, there may be a slight correction. Even if it goes below $60k, it is not a big problem. Moreover, it is not possible to predict that the price of Bitcoin will increase after the halving. But if you look at the events after the previous halving, it will be seen that the price of Bitcoin has increased after a long time. For the time being, the price of Bitcoin will remain between $60k to $70k for a long time and we may see its price rise from the last quarter of this year. Since Bitcoin is the most volatile currency, the price of Bitcoin can rise up or down more than expected level from time to time. In this case, the decision should be taken after careful observation before investment.

the price goes up and down depending on the news, but as most of the time it is news that is not very widespread and does not create a big impact, so it is not very visible that that small piece of news has caused any increase in price, even if it is a small increase in price. price or price drop. for example, last month there was news that Iran attacked Israel and at the same time the price of bitcoin and other financial market assets started to fall because people feared that there would be a third world war, so they started panic selling, that kind of thing. news has a major impact on the price of assets in the financial market

see this news:


Bitcoin traders expect Fed Chair Powell to ‘pump our bags’ and BTC to target $80K+


Historical Bitcoin performance data and investors' expectation that the Fed will “pump our bags” have traders anticipating a strong BTC price rebound.



Bitcoin price rose 3% on May 13 as crypto traders anticipated price volatility ahead of this week’s U.S. macroeconomic data update.

Data from Cointelegraph Markets Pro and TradingView showed intraday BTC price high of $63,269 on Coinbase shortly after the Wall Street open on May 13.

This week, market participants await the United States inflation data to help determine whether the Federal Reserve will lower interest rates in 2024.

The U.S. Producer Price Index (PPI) print is expected on Tuesday, May 14, followed by the Consumer Price Index (CPI) reading on May 15.

According to the CME’s FedWatch tool, market analysts forecast a 72% chance of rates remaining the same at July’s Federal Open Market Committee (FOMC) meeting, with the possibility of rate cuts pushed later in the year, at 48.6% at September’s meeting. Traders forecast a 91.1% chance that rates will remain unchanged at June’s meeting.

“Expect volatility. However, this is the first time in a little while that we are likely to see inflation data slow.”

The analyst explained that reducing inflation will be “good for risk assets like Bitcoin,” putting the market on the “verge of a leg higher.”

Fellow analyst Seth shared the following chart in a May 12 post on X, saying that the relative strength index (RSI) had broken above a descending trendline on the daily timeframe.

The analyst acknowledged that this week’s “CPI, Core CPI, PPI and FED chair speech” is likely to affect the direction of BTC’s price.


source: https://cointelegraph.com/news/bitcoin-traders-expect-fed-chair-powell-to-pump-our-bags-and-btc-to-target-80k

Most people are constantly analyzing the market to identify a good moment to buy or a good moment to sell, but when we just look at the price in front of us, we don't realize that there are factors that are influencing the price at that moment. I know that many people have said that they don't care about the news, they buy and hodl, but in my case I care about the news, because for example today the price of bitcoin is at $62000 and there is bad news and the price dropped to $40,000, then I would buy at a very low price and when the price went up to $120,000 I would have made 3x, while that person who bought at a price of $62,000 and doesn't care about the news, when the price reached $120,000 would only have done 2x
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