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Bitcoin: The Halving Effect, A Catalyst for Price AppreciationCryptocurrencies are undeniably enticing but come with significant risks. While the blockchain technology behind these digital assets is revolutionary and has the potential to reshape the financial sector, their future role remains uncertain and somewhat unclear. However, there is one cryptocurrency that stands out for providing investors with the safest exposure to the potential of the cryptocurrency market: Bitcoin. Here’s why it makes sense to invest heavily in Bitcoin. The Halving Effect: A Catalyst for Price Appreciation On April 19, Bitcoin experienced its fourth halving event. These halvings occur approximately every four years and are a crucial part of Bitcoin's monetary policy, which focuses on preserving scarcity by reducing its inflation rate by half. With the most recent halving, Bitcoin's inflation rate has dropped to just 0.85%, making it less inflationary than gold, which is often considered the ultimate store of value and inflation hedge. In the long term, the continued reduction in Bitcoin's inflation rate is likely to positively impact its price. As demand for Bitcoin grows, the decreasing inflation rate will increase pressure on its limited supply of 21 million coins, creating a strong potential for price appreciation. Even in the short term, the halving effect makes Bitcoin a compelling investment. Historically, in the years when a halving occurs, Bitcoin's price has increased by an average of 125%. From the beginning of the year, this would suggest a potential price of over $100,000, offering significant return prospects even with the current price around $65,000. Moreover, Bitcoin's best performance typically occurs in the year following a halving, with historical increases exceeding 400%. Significant Institutional Interest and Clear Role in the Financial Landscape Bitcoin's ascent has primarily been driven by retail investors for much of its existence. However, this dynamic is poised for a significant shift. The approval of spot Bitcoin ETFs has opened the door for institutional investors with vast capital reserves to invest in the cryptocurrency easily. The influx of Wall Street's major players will likely exert unprecedented pressure on Bitcoin's finite supply, reminiscent of its early days. Moreover, the approval of a spot Bitcoin ETF signifies the market's current perception of Bitcoin and its role in the financial landscape. For instance, Ethereum (ETH), the second most valuable cryptocurrency, is embroiled in a debate over ETF approval as regulators decide whether it is a security or a commodity. This regulatory scrutiny extends to all cryptocurrencies, raising questions about their classification. It is important to note that the Securities and Exchange Commission (SEC) labeling a cryptocurrency as a security does not spell the end for that blockchain. Most of these assets are highly decentralized and would continue to operate even if the SEC pursued litigation. Cryptocurrencies are traded globally and are not confined to any single country's laws. However, legislative risks are a concern for markets. This is where Bitcoin stands out as a safer investment. The SEC has already classified Bitcoin as a commodity, placing it beyond the agency's regulatory control. This classification provides Bitcoin with unique staying power and a layer of protection against regulatory scrutiny. In a Class of Its Own Bitcoin's core characteristics have attracted substantial institutional interest and defined its clear role in the financial landscape, setting it apart from other cryptocurrencies. Investing in Bitcoin means investing in the most decentralized, secure, and proven cryptocurrency available. It operates without a central authority, and its creator, known only by the pseudonym Satoshi Nakamoto, has remained anonymous and absent. No other cryptocurrency can match this level of decentralization and lack of a central governing body. Most other cryptocurrencies have identifiable creators and development teams, making them more susceptible to SEC scrutiny. Bitcoin, in contrast, has maintained its original form for the past 15 years without any central figure or authority. Even if the SEC wanted to take action against Bitcoin, it would be challenging due to its decentralized nature and unknown creator. A Solid Investment Opportunity Bitcoin remains a solid investment option. While there may be optimal times to invest, such as during a crypto winter, historical data suggests that long-term holding typically yields substantial returns, even for those who buy at peak prices. As fiat currencies face inflation, institutional interest in Bitcoin grows, and halving events continue, Bitcoin is likely to keep exceeding expectations. Michael Saylor, a prominent Bitcoin investor and CEO of MicroStrategy, which owns about 1% of the total Bitcoin supply, aptly summarized this sentiment: "I'll be buying at the top forever."
COINBASE:BTCUSDLong
by FOREXN1
1
BITCOIN There is no turning back from this.Bitcoin (BTCUSD) has started the 5th Bullish Wave of the current Bull Cycle, following the consolidation of the past 2 months. Since the November 2022 bottom we have had 4 such waves with consolidations ranging from 1 month to 6 months (blue Channel of April 10 - October 10 2023). The current wave can technically take Bitcoin up to $100k alone. What is even more bullish than that though is the fact that the whole (ellipse) structure since the October 2023 Low, resembles the sequences of April 2020 - March 2021 and May - December 2017. As you can see, both were Bullish Legs of the 7-year Channel Up. Symmetrically, it appears that we are past its 2nd consolidation (blue circle) and starting the final rally to the Top of the Channel Up. That means that the Cycle Top can even be marginally higher than $200k until the 1W MA50 (blue trend-line) is breached again (note that we are past a 1W Bullish Cross also) which can make us start considering a Bull Cycle again. But what do you think? Is this rise just the start of a wave that will take BTC to 100000 even 200000 if history repeats itself? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
2
Bitcoin: 64K To 66K Retrace.Bitcoin pushed into the 70K resistance area over the previous week and retraced. Those who read my articles and watch my streams should not be surprised. My Trade Scanner Pro take profit price is at 72,632 which was missed by a few hundred points (entry was 62,907 on 5/2). As I continue to remind my followers, CONTEXT is key to navigating this consolidation and it can be summarized by two components: Trend, Support/Resistance. To gauge risk, profit potential and probabilities on shorter time horizons, this is ALL you need to know. Before I get into more of an explanation, here is my scenario for the coming week. There was a new buy signal off 69K (inside bar see arrow). While a higher low typically should lead to a higher high, the 70K resistance area is still intact and appears to be in play. IF the current candle closes weak and the next candle takes out its low, a test of 66K to 64K becomes more likely (see illustration). This is just ONE scenario of countless that I anticipate based on the price structure and support/resistance on this time frame (CONTEXT). To be clear, this analysis is meant for those who day trade or swing trade Bitcoin. IF you are only interested in longer time horizons, there is no shortage of 'experts' who will be happy to keep you entertained. So you know, the broader the time horizon, the more RANDOM the outcome. More is NOT better in this game. I estimate that 99% of the information available to the retail trader/investor is nothing more than misinformation or entertainment. Consuming more of it only leads to confusion and random outcomes. This is why I aim to SIMPLIFY by focusing ONLY on information that provides some ACTIONABLE VALUE. This is where TREND and SUPPORT/RESISTANCE come into play. Markets TREND, that fact alone is why we can argue that markets are not 100% random. For the retail trader, this is one of the few areas of the market that can provide some kind of advantage even if temporary. Trend provides a basic gauge of probability. This piece of CONTEXT helps to support/resistance levels into perspective and gives a reference point to better shape expectations. For example, for Bitcoin on this time frame, the broader trend is CLEARLY bullish while the shorter time horizon (going back3 months) is range bound. Recognizing this helps me form reasonable expectations about particular price levels in the future (60K, 64K, 70K, 73K etc). Support/Resistance levels are inflection points where a particular behavior occurred and MAY occur again in the future. While the levels can be broken randomly, knowing trend helps me anticipate which is likely to hold, and which is likely to break. IF the market chooses to compromise a level unexpectedly (it happens) then I ADJUST to the market NOT get stuck on an opinion. For example, in the context of a broader bullish trend, the 70K resistance on Bitcoin should break, and continues to be vulnerable even though a significant break has yet to occur. Context helps to shape expectations in line with MARKET generated information. As NEW information reaches the market, price adjusts, and we must also adjust. This phenomenon is rooted in the Efficient Markets Hypothesis. This is why those who think they can forecast the future from looking at a bunch of lines on a chart are fooling themselves and you. As a retail trader/investor it serves us best to evaluate BOTH sides of the market and assign a probability to each side. From there at least we can gauge risk and profit potential as per a chosen time frame more effectively and not be misinformed by others (too much internet). Thank you for considering my analysis and perspective.
BITSTAMP:BTCUSD
by MarcPMarkets
9
BTC → the upward movement will be continuehello guys... there are several facts that btc will be bullish for a while! 1- the upcoming three drives: three drives is forming so far just the first drive formed 2- moving upper than mid-line of the ascending channel! 3- the price is moving toward the top line of the descending channel! 4- The ascending trendline broke up! ___________________________ ✓✓✓ always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
3
BITCOIN FAILED ON RESISTANCE, WHAT'S NEXT? As predicted in our previous analysis, Bitcoin experienced a significant rally following the identified breakout. Currently, the price is once again encountering strong resistance at the major zone we highlighted earlier. The recent bullish trend developed within a bullish channel, suggesting the possibility of a bearish impulse and another retest of the resistance zone. If Bitcoin fails to break through this resistance again, we might see the formation of a double top, potentially leading to a sell-off accompanied by increased volume.
Long
by traderchamp_
Bitcoin finds strong resistance at $70,000Bitcoin (BTCUSD) pulled back below $67,000 in a broad market move yesterday. Interestingly, this price action coincided with the Securities Exchange Commission’s (SEC) approval of exchange applications to list spot Ether ETFs, which was recently preceded by a rally in altcoins, of which many are currently seeing profit-taking. In addition to that, it coincided with a similar weakness in the U.S. tech sector that remains highly correlated with Bitcoin and whose potential topping presents one of the biggest threats to the cryptocurrency’s spectacular performance. While Bitcoin may take out all-time highs in the near future, we are significantly less optimistic about it continuing to $90,000 or $100,000. In fact, we are starting to grow increasingly more convinced that investors will find, once again, that markets do not function as exponential growth machines. It may have seemed up until now that wealth could be made out of thin air, but historical precedents show that such optimism often leads to harsh reality checks. The exuberance in the market, fueled by speculative mania, will likely face a sobering correction as underlying economic fundamentals reassert themselves. Therefore, we deem it proper to be highly cautious in the current environment, especially as investors continue to disregard many recessionary signs that eventually lead to risk aversion. Illustration 1.01 The daily chart of Bitcoin (BTCUSD) shows a recent rejection at the channel’s upper bound. Another retest of this resistance is not ruled out. Illustration 1.02 Movements indicated by the 20-day SMA and the 50-day SMA suggest choppy market conditions for the trend’s medium degree. Bitcoin addresses The number of Bitcoin addresses with balances exceeding 1,000 BTC has been rising over the past week or so. But the opposite has been happening to the number of Bitcoin addresses with balances exceeding 100 BTC. Technical conditions Daily time frame = Slightly bullish Weekly time frame = Bullish (losing momentum) Monthly time frame = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
BTC/USDTIn the BTC/USD daily chart, the inverse Head and Shoulders continuation signal continued pushing the price higher, where the most recent price trades above the 67310.50 static support. As the dynamic 100-day SMA and 20-day EMA remain below the current, we may expect the buying pressure to extend towards the 80000.00 psychological line. For the third day in a row, the total capitalization of cryptocurrencies has remained stable at approximately $2.6 trillion. Bitcoin has yet to surpass $70,000, which has dampened market enthusiasm. Bitcoin has experienced a 0.3% decline over the previous twenty-four hours, whereas Ethereum has gained 0.6%.
CRYPTO:BTCUSDLong
by TFXBR
BTC Fractal - 3 Reasons why ATH is still COMINGI've been saying for some time now that the real ATH is still ahead of us. I base this on a few points of observation. First, the Elliot Wave Theory: Then we're taking a look at an inverse H&S pattern observed on the daily: Another bullish point to consider is that we have been able to hold above 60k successfully, showing that buyers are scooping up lower entries and putting pressure on bears. Historically, it is considered bullish for the price to consolidate under a resistance zone. Our technical indicator is also overwhelmingly bullish. After a cooldown from being "Overbought", we're now ready for another impulse wave up. And lastly, from a logarithmic view, BTC still has room for growth considering we haven't "peaked" out yet: Note that here, I'm not intending to say we're going straight to 400K with the next impulse wave. Rater, it is a multi-year outlook on how BTC could grow to much higher prices. In terms of the correction, we're seeing bullish indicators on the price and so it SEEMS that the pullback may be over and we're ready for another impulse wave up (3 steps). I used WXY to demonstrate how it legs up in three unique phases, on top of the normal Elliot 5 waves. And so it is important to note that even if we do fall lower to continue down with a correction, as long as we do not fall LOWER than the previous point X (as seen on the fractal in green) we are still very much in a macro bullish cycle. ___________________________ BINANCE:BTCUSDT MEXC:BTCUSDT
Long
by CryptoCheck-
5
Bitcoin Rebounds To 65K As Correction May Be OverBitcoin rebounds strongly to 65k area, which can be signal that correction may be over from technical perspective and by Elliott wave theory. We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving and we also shared a free chart back on April 15th, where we mentioned and highlighted a higher degree wave 4 correction within ongoing bullish cycle. As you can see today, after a slightly deeper corrective decline, Bitcoin is bouncing strongly which indicates that wave 4 correction may be over at the ideal 38,2% Fibo. retracement near 56k support. So, be aware of a bullish continuation within wave 5 of III that can send the price back to all-time highs towards 75k-80k area, just watch out on short-term pullbacks.
BITSTAMP:BTCUSDLong
by ew-forecast
ATTENTION !! WE ARE ENTERING A LONG-TERM BEAR MARKET !!A beautiful example of cup&handle pattern. I think the bottom expected by the market will be around 58k. (If it fall, i will buy the dip) While everyone is afraid, the brave ones usually win more. My Bitcoin target for 2025 is 150k. What i share here is not an investment advice. Please do your own research before investing in any digital asset. Never take my personal opinions as investment advice, you may lose all your money.
by traderisso
2
BITCOIN: A Volatile Journey Towards New HeightsBitcoin (BTC) has always been synonymous with volatility, and recent market conditions are no exception. Currently priced at $67,700, Bitcoin is capturing significant attention as it hovers around this pivotal point. The market sentiment is mixed, with expectations of potential pumps, possible rejections, and opportunities for buying at lower prices. As we stand a few weeks post-halving, the anticipation of new all-time highs is palpable among investors and analysts alike. Historically, Bitcoin has shown a tendency to reach record prices following a halving event. This pattern fuels optimism that another bull run could be on the horizon. However, caution is warranted. Should a price drop occur, it is unlikely to last long. The underlying fundamentals and increasing institutional interest provide strong support for Bitcoin’s value, suggesting that any dips could be temporary and present attractive entry points for both new and seasoned investors. In summary, Bitcoin's journey remains as thrilling as ever. With the current price point being a critical juncture, the market could see significant movements in either direction. Investors are advised to stay vigilant and consider both the opportunities and risks in this dynamic environment.
BYBIT:BTCUSD.PLong
by Gokic
Spotting the REAL Bitcoin ATHLet's talk about an ambiguously overlooked elephant in the crypto room, THE MINERS . Bitcoin miners hold the most influence over the crypto market, despite the humble spotlight casted on them compared to other players like the exchanges and the ETF distributors. What people really miss is the fact that miners HAVE to make the most raw profit , there is no ATH, no bull-run, no real surge unless Bitcoin miners make more profit than us! So let's get right into how Bitcoin miners and the costs involved in the mining process could and has affected the price of Bitcoin during previous cycles. Based on my research, Bitcoin surprisingly NEVER has dipped below the average mining cost during a bull-run. During mid April 2021 , Bitcoin printed a new ~65000 ATH before starting a correction period that terrified investors. And if you were there back then, you'd remember how this correction was brutal to new traders. However, after two weeks of shaking the hands, Bitcoin started forming a descending channel week after week, until the price touched the golden FIBONACCI level (61.8%) at ~28600 , which happened to be only ~2000 Dollars away from the average mining cost at that time, which was ~26500. Briefly after, Bitcoin broke out of the descending channel and started surging towards its REAL ATH, ~69000 . Now, you might ask what does that have to do with the current cycle? Well, you're absolutely right! This cycle is completely different , because the average cost of mining Bitcoin is at RIDICULOUSLY crazy ~57000 level ! And such extremely high production cost begs for a serious consideration of the validity of ~73000 as a REAL cycle ATH. Do we really think that the current ATH is making miners enough profit? I personally don't think so, especially after the price retested the ~57000 level (which happens to be the current average production cost of Bitcoin) days ago and rebounded from it. It only makes sense to expect Bitcoin to print at least 70% profit for miners who produce Bitcoin at this point in time, especially after the halving event. And predicting a deeper correction where miners would print LOSSES instead of profit during the BULL MARKET wouldn't be a sensible preposition. It's extremely important to also mention that during the last cycle, Bitcoin NEVER dropped below its average production cost level until the bear market started . In fact, dropping below that level might have been one of the most significant causes of the bear market to begin with. Conclusion: The bull market is exactly when Bitcoin NEEDS to make miners profit, it's why mining is functional, especially for small mining businesses that can't afford to keep their gear running without cyclic profit. Bitcoin is currently rebounding from a price matching its current average mining cost after its post-halving correction. And based on the info in this brief research, this level should be where Bitcoin starts surging towards a new ATH. During previous cycles, miners printed at least 100% profit after the halving events. Will history repeat itself? Will the ~57000 price level be the final rebounding level before making a new ATH of at least 100000? Let's see! Note: This was an exploration of a potential scenario based on the current context and state of the market, not financial advice.
by OmarsMess
2