Category

Bitcoin is showing signs of exhaustion, has the market endedOriginal Huang Weihong Xingyu x2023-04-2600:03 Published in GuangxiIncluded in the collection#Financial category, including digital currency π coins691Please click on the author's name above to follow to avoid missing important informationBitcoin is showing signs of exhaustionIn recent times, after Bitcoin broke through 30000 yuan, the argument of "a bull market has arrived" has been heard endlessly. Many friends have put together funds to invest and re enter the market, but the trend of coin prices has not been satisfactory

Recently, with the price of Bitcoin exceeding $31000, the cryptocurrency market has been fully activated.According to market data, driven by the positive upgrade of Ethereum in Shanghai, Bitcoin rose to $31043 on April 14th, with Ethereum reaching a maximum of $2157.However, since then, the market has entered a significant downward trend. As of writing, the price of Bitcoin is $27475 and the price of Ethereum is $1842, and the market is still in a clear downward trend.Although the current market trend is in a downward trend,However, this round of rise still laid the foundation for cryptocurrencies to completely break free from the bear market cycle and provided optimism for subsequent market developments.At present, it is widely believed in the market that the cryptocurrency bull market has gradually started, especially with only one year left for Bitcoin's fourth halving and the traditional financial market facing a recession. Two major positive factors will drive the bull market to arrive early: 1、 According to the halving of Bitcoin and the bull market pattern, cryptocurrencies will usher in a new bull market next year.The halving cycle of Bitcoin is four years. The last halving occurred on May 12, 2020, and it is expected that the next halving may occur between March 2024 and June 2024. 2、 Traditional financial markets may face recession, providing a broader basis and logic for cryptocurrencies to rise.Federal Reserve policymakers expected a mild recession later this year at their March meeting, followed by a recovery in the next two years. This is the first time since 2020 that the Federal Reserve has publicly stated its expectation of a recession.The leading indicator index of the World Federation of Large Enterprises also shows that an economic recession is approaching.Justyna Zabinska LaMonica, senior manager of business cycle indicators, a think-tank, said that it was expected that the economic weakness would intensify and expand in the coming months, leading to a recession from the middle of 2023.With the view that the bull market has already started, market predictions for Bitcoin prices next year are also emerging one after another. According to market information, there are currently three main types of market predictions for Bitcoin prices: 1、 Bloomberg analysts predict that Bitcoin prices will reach $50000 in April next year.Bloomberg industry research analyst Jamie Douglas Coutts said that based on previous cycles,The upcoming halving of Bitcoin is currently reflected in approximately 50% of market quotes。 Coutts prediction,By April 2024, Bitcoin may reach $50000

Edited by: Bi LumingData shows that Bitcoin has risen by 40% this year, while Ethereum has risen by more than 30%.

Bitcoin prices have started a new rise above the resistance level of $29000. If it significantly breaks through the resistance level of $30000, BTC may rebound

Reported by Zhao Yi, Hu Jinhua, a reporter from China Times (www.chinatimes

Author: GregCipolaro, Global Research Director, NYDIG Compiled by WEEXBlogSummary: Bitcoin, as a non sovereign means of storing value, may be seen as an effective investment choice and hedging tool for those seeking to protect themselves from the conspiracies of politicians and monetary policymakers.Reading summary:The debate on the US debt ceiling is coming ahead of schedule due to the decline in tax revenue, which may highlight the importance of Bitcoin

As of early Wednesday morning, the trading price of Bitcoin was approximately $28400, an increase of approximately 3.7% within 24 hours

Reading Innovation/Shenzhen Business Daily reporter Zhou LiangchengAs of 8:30 pm on April 26th, the price of Bitcoin was reported at $29895 per piece, an increase of $2477, or 9.03%, from the previous day, just one step away from the focal point of $30000

As concerns about the US banking industry resurfaced, Bitcoin surged 9% on Wednesday (April 26th) and broke through a key price of $30000, the first time in a week.According to CoinGecko data, the second largest cryptocurrency in the past 24 hours, Ethereum, has also climbed 7