Bitcoin, the enigmatic cryptocurrency, has captivated the world with its wild price swings and promises of revolutionizing finance. But with recent developments like exchange-traded funds and the looming block reward halving, the question arises: can bitcoin truly reach new heights, or is it destined for another tumble?
#bitcoin #crypto #cryptocurrency
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Meanwhile Bitcoin surp surpassed $1 trillion in market cap for the first time since November of 2021 now recent developments like exchange traded funds and the looming block reward harving are fueling The Surge but the question Still Remains can Bitcoin truly reach New Heights or is it destined for another
Tumble now take a look at this report to find out more Bitcoin is one of the best performing assets of 2024 there are two main reasons for its rally in less than 60 days the first is the approval of an exchange traded fund that tracks the movement of the asset
Class the second is bitcoin’s Haring event which is slated for April of 2024 Bitcoin Haring is an event programmed into Bitcoin code that reduces the number of new coins minted every block by half roughly every 4 years this scarcity is often cited as a key driver of its price
Appreciation however analysts argue that the Haring impact is already priced into the current market value furthermore regulatory scrutiny continues to loom over the crypto space governments worldwide are grappling with how to regulate this nent asset class and stricter measures could dampen investor senent additionally environmental concerns regarding bitcoin’s energy
Consumption could lead to negative publicity and potential restrictions so can Bitcoin breach its previous record high of $69,000 it’s certainly possible but far from guaranteed the path ahead seems akin to a treacherous Mountain climb than a smooth Ascent several hurdles need to be overcome and even then the
Summit may be shrouded in Mist while bitcoin’s potential for future growth should not be discounted it’s crucial to approach predictions with a healthy dose of skepticism bu report weon world is one for all the latest news download the weon app And subscribe to our YouTube channel
13 Comments
Crypto currency will never be in my portfolio
I respect your work mate. TA is good but I find it truly baffling that all major crypto youtubers just look at pure T.A and completely Ignore the bigger narrative of why BTC Is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major pump at the peaks of BTC.. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market. more emphasis should be put into day trading as It is less affected by the unpredictable nature of the Market.. I have made over 11btc from day trading with Greg Nelson, insights and signals in less than 3 weeks, This is one of the Best medium to backup your assets incase it goes bearish
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