Coinbase warning: Cryptocurrency challenges ahead of Bitcoin halving
Coinbase Warning: Cryptocurrencies May Face Macro and Technical Challenges
Coinbase forecasts that the cryptocurrency market may encounter difficulties both on a macroeconomic and technical level. Analysts point out several factors that could influence market liquidity and cryptocurrency trading in the coming weeks.
Bitcoin in a Narrow Range Ahead of Halving
The world’s largest cryptocurrency, Bitcoin, is likely to trade within a narrow range leading up to the upcoming event – halving, scheduled for next month. Despite reaching new price records, the cryptocurrency market may face challenges both macroeconomic and technical.
Impact of Bitcoin ETFs on the Market
Analysts highlight the influence of American Bitcoin ETFs on demand for this digital currency. Although the “short-term position liquidation” may be exhausted, the dynamic ETF market can both strengthen and weaken Bitcoin’s price trend.
Bitcoin Halving Predictions
The latest Bitcoin halving, which involves reducing rewards for mining this cryptocurrency by 50%, could have significant consequences for the entire market. Coinbase predicts that both immediately before and after the halving, Bitcoin will trade within a narrow range, potentially impacting price volatility.
Summary
In light of Coinbase’s forecasts, particular attention should be paid to potential changes in the cryptocurrency market. Macroeconomic and technical challenges, as well as the upcoming event of Bitcoin halving, may affect price stability and trading liquidity. Investors and cryptocurrency enthusiasts must be aware of the evolving situation and monitor developments in the digital currency market.
