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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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  • Web 3
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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Home Web 3

This Chart Pattern Suggests Bitcoin Will Collapse in the Coming Months…

January 30, 2024
in Web 3
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This Chart Pattern Suggests Bitcoin Will Collapse in the Coming Months…
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TL;DR

  • In the lead up to both the 2016 and 2020 Bitcoin halvings, BTC’s price saw a 40-50% drop in price from its then recent highs.

  • Now a bunch of crypto-market-big-brains are predicting that we’re about to see something similar happen in the lead up to this year’s halving (April 20), with a ~30% drop from the recent high of ~$48k, to ~$34k.

Full Story

Alright, time for our bi-weekly(ish) check in with Bitcoin.

BTC bounced off its $38.5k lows of last week, and shot back up to ~$42k over the past 4 days or so.

(That’s a cool $70B worth of total market value, regained in a weekend. Not bad!)

That’s the good news…

Now, let’s get a little doomy n’ gloomy, by diving into some finance-bro-astrology (aka the technical analysis of chart patterns).

ICYMI: in the lead up to both the 2016 and 2020 Bitcoin halvings, BTC’s price saw a 40-50% drop in price from its then recent highs (see image ☝️).

And now a bunch of crypto-market-big-brains are predicting that we’re about to see something similar happen in the lead up to this year’s halving (April 20), with a ~30% drop from the recent high of ~$48k, to ~$34k.

Is this a lock?

No. Not at all.

A lot has changed since 2016/2020, for Bitcoin and the crypto market as a whole. So just because it has happened twice in the past, doesn’t guarantee third time will be a charm.

That said, a lot of people base their buying/selling decisions around these patterns — so even if the process does feel a little silly/made up — they can still predict/move markets.

See also  Sandblasting Media Global Market 2024 - Industry Analysis, Future Trends, Segmentation And Key Players

Now we play the waiting game…

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How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

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MATIC down 21% in April: Can 115K Polygon whales turn the tide in May?

MATIC down 21% in April: Can 115K Polygon whales turn the tide in May?

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Build on Bitcoin Launches Mainnet With Over 40 Apps

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Crypto Gaming Platform Portal Adds Rockstar Co-Founder Amid Airdrop Push

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Whales Add 190,000 Ethereum In The Last 24 Hours – The Accumulation Continues

Whales Add 190,000 Ethereum In The Last 24 Hours – The Accumulation Continues

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