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-80kMost 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