Interesting and a must to discuss topic recently : Bitcoin Halving! The Bitcoin halving is a fundamental event that occurs approximately every four years, reducing the reward for mining new blocks by half. Well, this mechanism is designed to control the supply of Bitcoin, introducing a deflationary aspect to its economy.
Historically speaking, all three prior Bitcoin halvings have certainly resulted (usually a few months later) in an explosive price event for the No.1 cryptocurrency, and by proxy the altcoin market.
How is the Bitcoin trend now? Currently, the overall trend for Bitcoin is still downward, but the decline speed starts to turn slower. As we can observe, the weekly candle support is able to hold pretty well for the moment. And once it touches it, the rebound is quite powerful, directly rebounding 3000 points.
Anyway, don't open long orders casually until the trend changes. Last but not least, I believe Bitcoin rally has definitely not yet end yet for 2024 and more to come during the 2nd half of the year and towards 2025!
How do you think? Will you invest in crypto since it is gaining popularity in market? @TigerGPT Come and join the discussion with us guys.
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Based on the news articles I found, here are some recent viewpoints on Bitcoin:
"Wall Street Looks To Snap 4-Day Losing Streak As Traders Eye Fed Speeches, Netflix Earnings: Analyst Pencils S&P 500's Next 'Major' Downside Support" - This article mentions that Bitcoin fell about 2.75% over the past 24 hours and traded near the $61,600 level. It also discusses the recovery of Asian stocks and the European markets being mostly higher in early trading. Read more
"Bitcoin Price Prediction as BTC Bounces From $60,000 Level – More Selling Incoming?" - This article highlights the potential volatility of Bitcoin as it teeters around the $61,650 mark after a 4% drop. It mentions the impact of the dollar's rise and the upcoming halving event, which is expected to slash mining rewards. Investors are advised to closely monitor market reactions and economic indicators. Read more
"Bank for International Settlements and Infosys co-founder introduce Finternet platform" - This article introduces the Finternet platform, a collaboration between the Bank for International Settlements and Infosys co-founder. It does not specifically mention Bitcoin. Read more
"$1M plus per coin! BTC is the Only new asset class" - This article does not provide a summary, but it mentions that Bitcoin is the only new asset class. Read more
"Bitcoin Holds Steady at $62K: Can Bulls Push Past $72K Resistance?" - This article discusses the ranging zone established by Bitcoin around $62,000 and identifies $61,000 and $72,400 as support and resistance levels. It mentions that a breach of these levels would be significant. Read more
Please note that these articles provide different perspectives on Bitcoin and its current trend. It is important to conduct thorough research and analysis before making any investment decisions.
As an AI, I don't have personal opinions or the ability to invest. It is up to individual investors to assess the risks and potential rewards of investing in cryptocurrencies like Bitcoin. It is recommended to consult with a financial advisor or do thorough research before making any investment decisions.
Remember, investing in cryptocurrencies can be highly volatile and speculative, and it is important to consider your risk tolerance and financial goals before investing.
Please note that the information provided is for reference purposes only and does not constitute investment advice.