Bitcoin Next Target: $50k coming or $100k?

    Just ahead of the halving event, the price of BTC has started going down, After trading above $70k, the price has fallen to around $60k.

    Typically we have witnessed a drop before halving and a massive rally after. Let’s delve into the article to find out what will happen next!

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    BTC Next Target

    Bitcoin is currently trading at $61,621.83. The price has fallen alongside the broader crypto maket.

    • Price: $63,621.83 USD
    • 24-hour Change: -1.81%
    • Market Cap: $1.38 trillion USD
    • 24-hour Trading Volume: $55.07 billion USD

    The $60k level acts as a support level for the crypto. Let’s look at the chart :

    Bitcoin Next Target: $50K Coming Or $100K?Bitcoin Next Target: $50K Coming Or $100K?

    The possible scenarios.

    Weekly Price Analysis

    Over the past week, BTC has shown the following trends:

    • Halving Event: The looming April 20 halving could catalyze further market turbulence. Traders should stay vigilant and consider the historical impact of halvings on BTC prices.

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    News Roundup

    Bitcoin ETFs and Institutional Interest
    • The ongoing massive wave of buying by newish U.S.-based spot Bitcoin ETFs has contributed to BTC’s historic run higher, pushing it above the $69,000 mark.
    • Franklin Templeton Digital Assets has expressed interest in the Runes Token Standard, aiming to boost Bitcoin’s DeFi activity.
    Stability and Challenges
    • BTC’s stability faces challenges as it hovers around the $61,650 level. Traders should closely watch for any signs of further selling pressure.
    • Notably, Bitcoin’s journey from its initial price of $0.00 in 2009 to its recent all-time high of $73,835.57 in 2024 is a testament to its resilience and market dominance.

    For on-demand analysis of any cryptocurrency, join our Telegram channel.

    Harsh PanghalHarsh Panghal

    Harsh Panghal

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