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The drastic fall is over, Bitcoin is taking off again!

Sun 12 May 2024 ▪ 4 min of reading ▪ by Evans S.
Getting informed Event

Since its inception, Bitcoin has stirred a range of emotions, swinging between fascination for its dizzying peaks and dismay during its steep falls. Recently, the crypto landscape has been marked by a notable event: the end of the post-halving “danger zone,” a period traditionally characterized by increased volatility. As Bitcoin crosses back over the $60,000 threshold, investors and onlookers wonder: are we witnessing the resumption of its ascent or is this simply a temporary respite in its uncertain trajectory?

Bitcoin bull market

Market Dynamics and Institutional Intervention

Bitcoin has gone through a particularly turbulent phase after the last halving in April, an event that halves the miners’ reward and directly affects the supply of new bitcoins.

Historically, this period induces price instability, which was confirmed by a significant retreat, with BTC hitting a two-month low at $56,500. This decline fueled a sense of caution among investors, scalded by previous drops.

However, a change in course is observed with the increased presence of institutional actors, speculating on strategic moves to prevent bitcoin from soaring during market closures.

Their manipulations, although controversial, have shaped the contours of a more mature market, where large entities seek to maximize their profits or stabilize the market through significant liquidity blocks, as observed around $62,500.

The recent price fluctuations, despite their abrupt nature, show notable support around $60,000, suggesting that bitcoin may not yet be ready to relinquish its gains. The persistence of this critical level indicates a possible accumulation, signaling to investors that the time for recovery could be near.

Implications and Future of Bitcoin

The role of institutional actors and price fluctuations suggest a growing maturity of the Bitcoin market.

While this may dampen the extreme volatility seen in earlier years, it also introduces a new dynamic, making price movements more calculated and less organic.

As reported by cointelegraph, as bitcoin closes its “danger zone” period, astute strategists and investors will closely monitor to determine if this stabilization is a prelude to a sustained rise or simply a lull before further turbulence. Bitcoin’s ability to maintain levels above $60,000 will be critical for this analysis.

The overall sentiment surrounding cryptocurrencies, often influenced by external factors such as regulation or macroeconomics, continues to play a decisive role in bitcoin’s trajectory. A positive perception could well catalyze a prolonged ascent, while negative signals could trigger further corrections.

In conclusion, as Bitcoin’s post-halving “danger zone” comes to an end, the market stands at a potentially decisive crossroads. Between institutional manipulations and psychological support around the $60,000 mark, Bitcoin seems to be carving its path through a complex and unpredictable landscape. In the meantime, Bitcoin core comes out of the silence.

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Evans S. avatar
Evans S.

Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.