Bittime - The Bitcoin market has been hit by high volatility after hitting record highs recently, leaving analysts confused about the meaning of these erratic price movements. Does this signal a decline before the Halving or a more substantial correction?
Deja Vu: Deviations from the Historical Norm
Traditionally, Bitcoin experiences a price spike before a Halving event, as was observed in 2016. However, this year saw a departure from the norm, with BTC prices declining despite the approaching Halving date. This situation presents déjà vu for investors who have experienced similar price falls in the past.
Check Today's Crypto Market:
| BTC/IDR | SOL/IDR |
| ETH/IDR | USDT/IDR |
| DOGE/IDR | ARB/IDR |
Expert Opinion Is Divided
Opinions among experts are divided: some predict a price surge before the Halving, as predicted by Michael van de Poppe, a leading crypto analyst. Van de Poppe noted a consistent uptrend in Bitcoin's value about four to five weeks before the Halving, and he was optimistic about the potential for a surge to $80,000 before the Halving, and perhaps even surpassing $100,000 after.
On the other hand, some experts anticipate a further correction, which might push Bitcoin price below $60,000 before rebounding.
Van de Poppe Analysis looks at volume bars and oscillators, such as the Relative Strength Index (RSI), to understand market momentum and potential consolidation or pullback phases. Additionally, the analysis identified important consolidation and breakout zones observed from November 2015 to May 2016.
BTC Price Today
Source: Bittime
Based on the Bittime market today, March 20 2024, the price of BTC was observed to have decreased by 5.37 percent in the last 24 hours. Currently the price of BTC to IDR is IDR 991,506,656 .
Also Read How to Buy Crypto:
Massive Selling Pressure and Liquidation
The Bitcoin market was hit by intense selling pressure, resulting in $500 million in liquidations in the last twenty-four hours. This development has rocked the crypto community, sparking concerns that the anticipated bullish surge may hit a snag before it even begins.
Despite the current conditions, Bitcoin's weekly chart displays a bullish outlook . Experts remain optimistic about a potential price surge, although the timing is uncertain.
Conclusion: Uncertainty Envelops the Market
Amid high volatility and looming uncertainty, investors are bracing for the next twist in Bitcoin's unpredictable journey. Future market developments will determine whether deja vu will turn into reality or Bitcoin will find its way to the predicted bullish surge.
Check Crypto Prices Today:
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime .
Monitor price chart movements of Bitcoin (BTC ) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Buy Bitcoin Before or After the Halving? Here's the Guide!
5 Halving Cycles You Should Know
What is Bitcoin Halving and How Does It Affect Bitcoin?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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