Bitcoin News
By TCA PR
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Before The Halving
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After The Halving
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Yesterday, a stiff resistance stack prevented the BTC/USD pair from breaking the $8,600 level.
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So far, the pair fell from $8,665 to $8,584. It’s no surprise since the bears are in control of the market for two consecutive trading days.
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Bitcoin has seen consolidating the $8,000 barrier over the past few days. The leading crypto asset by market capitalization has recently closed the largest green weekly candle…
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Analysts found reasons why Bitcoin’s narrative is now on the table, including the bullish signs, hash rate highs, and upcoming halving.
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Based on the recent Decentrader newsletter released by Filb, Bitcoin can hit at least $12,500 before the halving.
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In case that the crypto asset can really make the $12,500 level, BTC needs to rally close to 50% from its current price of $8,450.
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Meanwhile, crypto analyst Nunya Bizniz said that there’s always a bullish price action between the four months before the halving itself and to every halving.
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If you’ll remember, during the four months before the first halving back in 2012, BTC’s price ended up rallying dozens of percent higher, reaching around $14 from $10.
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Apart from the speculations on the BTC’s price before the halving in May, other analysts also have predictions after the halving.
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According to crypto derivatives exchange FTX, there will be plenty of call options for higher BTC price one month after the halving.
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For the contracts to be profitable, the price of BTC needs to hit above the $12,430 level by June 25. Many investors have expressed confidence in the possible outcomes.
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Once the price of BTC close below the $12,430 level, the bet will be effectively closed since the contracts will become worthless.
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As the halving approaches, many deep-pocketed investors are already turning bullish for Bitcoin, especially that the options markets are welcoming them.
The Currency Analytics
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