Bitcoin Next Target: $50k coming or $100k?

Just ahead of the halving event, the price of BTC has started going down, After trading above $70k, the price has fallen to around $60k.

Typically we have witnessed a drop before halving and a massive rally after. Let’s delve into the article to find out what will happen next!

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Table of Contents

BTC Next Target

Bitcoin is currently trading at $61,621.83. The price has fallen alongside the broader crypto maket.

The $60k level acts as a support level for the crypto. Let’s look at the chart :

The possible scenarios.

Over the past week, BTC has shown the following trends:

Halving Event: The looming April 20 halving could catalyze further market turbulence. Traders should stay vigilant and consider the historical impact of halvings on BTC prices.

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The ongoing massive wave of buying by newish U.S.-based spot Bitcoin ETFs has contributed to BTC’s historic run higher, pushing it above the $69,000 mark.
Franklin Templeton Digital Assets has expressed interest in the Runes Token Standard, aiming to boost Bitcoin’s DeFi activity.

BTC’s stability faces challenges as it hovers around the $61,650 level. Traders should closely watch for any signs of further selling pressure.
Notably, Bitcoin’s journey from its initial price of $0.00 in 2009 to its recent all-time high of $73,835.57 in 2024 is a testament to its resilience and market dominance.

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