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Bitcoin $200,000: A Matter of TimeThe price of Bitcoin has historically exhibited an upward trend following each halving event. This phenomenon stems from a combination of factors, including a reduced supply of newly minted bitcoins, increased demand driven by scarcity, positive market sentiment surrounding the halving, and speculative buying fueled by anticipation of future price appreciation. The price of Bitcoin began to rise significantly in the months leading up to the 3rd halving, which occurred on May 11, 2020. The price rose from around $5,000 in March 2020 to over $10,000 in May 2020. After the halving, the price of Bitcoin continued to rise, reaching a peak of over $68,000 in November 2021. The fourth halving is estimated to occur in the second week of April 2024. The price of Bitcoin has been rising since the beginning of 2023, and I believe that it could reach $46,000 before halving and forming strong resistance for the next breakout. However, it is also possible that the price of Bitcoin could decline before the halving, as it did in the months leading up to the second and third halving in 2016 and 2020. After the 4th halving, we can expect a significant upward movement in Bitcoin. Additionally, we can expect ETF approval after the halving, which could further impact the price of Bitcoin and drive it upwards to $200k. Thanks Hexa
BITSTAMP:BTCUSDLong
by HexaTrades
20
Comparing Bitcoin Halving With Price Movementwhat is Bitcoin Halving? Bitcoin halving is an event that occurs every four years and reduces the block reward for verifying transactions on the Bitcoin network. This reduction in supply helps to control the overall inflation rate of the cryptocurrency and maintain its scarcity. The next halving is expected in 2024. Chart Overview: The chart above shows, how the bitcoin price moved before and after halving, before the 500 days of halving, the bitcoin price began to rise slowly. After the halving, the price of Bitcoin goes up hard, this was repeated in the past 3 halvings. expecting the same price movement in the 4th bitcoin halving. till the 4th bitcoin halving (halving expected date 2nd may 2024) bitcoin price will rise slowly After the halving we expect a strong up move in bitcoin and potentially reach the 200k level. Thanks Hexa
INDEX:BTCUSDLong
by HexaTrades
6
ETH unlikely to dip below $2,000 ETHUSDT Technical Analysis Update: There are two potential scenarios for a rebound. Scenario 1: The previous resistance level at $2,140 could now act as crucial support for ETH, potentially triggering a bounce from this level. Scenario 2: At the $2,000 level, two historical resistances could act as support for ETH. Additionally, the $2,000 level carries psychological significance as support for ETH. If Ethereum (ETH) price reaches the $2,000 level, the 100-day Exponential Moving Average (EMA) could act as a potential support in the day chart. Ethereum price may consolidate above the $2,000 support level for a month before the upward move. I believe the ETH price is unlikely to fall below $2,000
Long
by HexaTrades
4