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| Source: Coinmagizne |
As Bitcoin's eagerly anticipated block subsidy halving approaches on April 20, predictions of price movements are circulating within the crypto community. Despite historical trends suggesting a surge post-halving, there are insights indicating a possible short-term bull run to $47,000, followed by a subsequent dip to the $36,000 zone.
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| Source: TradingView |
According to a recent analysis shared by an analyst on January 26, known for its accuracy in liquidity pool analyses, Bitcoin could undergo a consolidation phase in the $40,000 to $45,000 range throughout February. Following this, there might be a deviation run to $47,000.
In terms of potential support, a zone ranging from $36,000 to $36,700 has been identified, considering past liquidity pools and observed price action. Analyst's predictions align with historical patterns, as Bitcoin has historically consolidated or retraced in the months leading up to previous halvings. If this forecast materializes, Bitcoin could experience nearly 14% losses from its current price of $41,810. It's worth noting that this percentage aligns with past occurrences, such as the 2020 drop during the COVID-19 crisis.
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| Source: TradingView |
However, it's essential to acknowledge that historical trends are not foolproof indicators of future events. The cryptocurrency market's inherent volatility and unpredictability mean that conditions can change rapidly. Investors and traders are urged to conduct thorough research, considering macroeconomics, fundamentals, supply and demand dynamics, and large-scale movements by influential entities.
Disclaimer: The content presented here is not intended as investment advice. Investing in cryptocurrencies carries inherent risks, and individuals should exercise caution and conduct their own research before making investment decisions.
