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This Pattern Shows the Bitcoin Post-Halving Selloffs are Officially Over

The post This Pattern Shows the Bitcoin Post-Halving Selloffs are Officially Over appeared on BitcoinEthereumNews.com.

Bitcoin exits its post-halving “danger zone,” with forecasts indicating reduced volatility and a stable growth trajectory through 2024. As Bitcoin moves beyond the post-halving selloff phase, market analysts are providing insights into its potential trajectory and critical price levels to watch. Rekt Capital’s latest analysis points to an end of the precarious phase that typically follows the Bitcoin halving, suggesting an upcoming period of price stabilization and potential growth. #BTC The Bitcoin Post-Halving “Danger Zone” (purple) is officially over$BTC #Crypto #Bitcoin pic.twitter.com/s2mURQmdaK — Rekt Capital (@rektcapital) May 13, 2024 The comparative charts from 2016 and projections for 2024 show similar patterns price movements. In 2016, a significant volume spike of approximately 603K BTC coincided with notable price movements, including a critical drop of 17.87% around July 11, 2016. This drop was followed by a recovery phase leading to a parabolic increase in Bitcoin’s price. The analysis shows the phases of post-halving market behavior, capturing the transition from a sharp price decline to a robust recovery and growth phase. Looking ahead to 2024, Rekt Capital forecasts similar price movements. He draws particular attention to the “Post-Halving Danger Zone,” where the chart shows a notable dip in Bitcoin’s price. According to the chart, there’s a decline marked by a 6.44% drop. This decrease aligns with similar patterns observed in previous cycles. – Advertisement – Shorter Term Predictions MichaĆ«l van de Poppe, CIO and founder of MN Trading Consultancy, offers a shorter-term perspective on Bitcoin’s price movements. With Bitcoin currently trading around $61,855.36, it teeters on crucial thresholds. Van de Poppe highlights a potential fall to a range between $52,000 and $55,000 if the support around $60,500 is broken. Conversely, surpassing the $63K barrier might trigger a run toward previous highs. Crucial decisions approaching for #Bitcoin. The range low at $60.5-61K is still…



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