Bitcoin price at its peak – what will April 8 bring?
Bitcoin Price at Three-Week High – Glimpse of Profits on April 8
The price of Bitcoin has surged to a three-week high, offering hope to investors for upcoming profits. Analysts of the cryptocurrency market are optimistic, suggesting that the current support observed may signal a continuation of Bitcoin’s price increase.
Last Chance to Buy Before the Halving
Prior to the upcoming Halving, where Bitcoin miners’ rewards will be halved, the cryptocurrency’s price has experienced a decline. One analyst suggests that this price drop may be the last opportunity to buy Bitcoin before the expected price surge.
Price Pressure Since March 15
Since March 15, the price of Bitcoin has been under pressure, dropping by as much as 15% after reaching a new all-time high around $73,800. However, the rebound on March 20 provides a foundation for the current price increase.
Halving – a Key Moment for Bitcoin
The upcoming Halving, scheduled around ten days from April 9, represents a significant point for the cryptocurrency market. After the Halving, some analysts anticipate further price growth for Bitcoin, driven by both reduced mining rewards and a potential supply crisis due to increased demand.
Institutions Accumulating Bitcoin
More and more institutions are investing in Bitcoin through exchange-traded funds (ETFs), indicating that post-Halving, the cryptocurrency’s price may be more influenced by institutions rather than retail markets.
Technical Analysis Points to Key Moments
From a technical analysis perspective, Bitcoin is currently seen breaking out of a bullish flag pattern and the Moving Average Convergence Divergence (MACD) indicator approaching a “bullish cross,” which could be a crucial moment for buyers, suggesting potential further price growth for Bitcoin.
