Bitcoin Price Prediction With Less Than Two Weeks Left Before Bitcoin “Halving” Event – ​​$100,000 Inbound?

Last updated: April 7, 2024, 9:25 a.m. EDT | 3 minutes of reading

Bitcoin Price Prediction

With the Bitcoin halving event approaching in less than two weeks, speculation over Bitcoin Price Prediction is intensifying, with some analysts eyeing the $100,000 mark.

Currently, Bitcoin (BTC) has climbed to $69,395, reflecting an uptick.

This crucial event, which halves the mining reward, historically triggers significant market movements, triggering debates about its potential impact on the valuation of Bitcoin.

Bitcoin halving in 2024: impact and expectations as the countdown begins

Bitcoin halved, scheduled to take place in April 2024, is an event that halves the reward for mining new blocks, reducing miners’ revenue for verifying transactions by 50%. This reduction, which occurs every 210,000 blocks, or approximately four years, will continue until 21 million bitcoins are in circulation.

The halving is crucial for traders because it reduces the new supply of bitcoin, which could cause prices to rise if demand remains stable. The next halving of block 740,000 will reduce the reward from 6.25 to 3.125 bitcoins.

Despite bitcoin’s recent stability, analysts at Steno Research predict a possible “buy the rumor, sell the news” scenario around this halving, similar to past events.

Forecasts suggest an increase in prices before the halving, followed by a potential decline afterward, echoing trends seen during the 2016 halving.

With increased attention and institutional investment in Bitcoin, the next few weeks will be crucial in understanding the impact of the halving on the market.

Coinbase Scores Legal Victory Over Crypto Transaction Regulation

Coinbase, a leading cryptocurrency exchange, has triumphed in a major legal case as United States Court of Appeals for the Second Circuit came out in its favor, stating that its secondary cryptocurrency sales do not violate the Securities Exchange Act.

The case, representing traders from October 2019 to March 2022, disputed whether Coinbase’s crypto transactions were securities. The court rejected these requests due to insufficient evidence, but noted potential problems under securities law.

This verdict strengthens Coinbase’s position on crypto sales and could boost investor confidence, potentially increasing Bitcoin trading and prices.

• Coinbase’s legal victory confirms its transactional practices
• Could boost investor confidence and Bitcoin trading volume

Ethereum: Best Crypto Buys Under $1,000 Amid Strong Market Rise

Ethereum (ETH) is emerging as a top investment choice in the thriving cryptocurrency market. Despite being 20% ​​away from its peak, Ethereum dominates the decentralized finance (DeFi) sector, holding over 60% of the market value.

Denchun’s recent update, improving its functionality and reducing layer 2 transaction fees, further strengthens its central role in DeFi.

Although Ethereum was not included in Motley Fool’s stock pick, its continued improvements and DeFi dominance make it an attractive option for investors, potentially influencing Bitcoin prices in a positive way by fostering greater confidence in the crypto ecosystem.

• Ethereum is a leader in DeFi with a significant market share
• Recent updates improve functionality and investor appeal

Genesis Acquires $2.1 Billion in Bitcoin, Fueling Market Optimism

Genesis made a strategic decision to purchase $2.1 billion worth of Bitcoin, offloading 36 million shares of GBTC.

This transaction, executed at $65,685 per Bitcoin, aims not only to settle debts but also to strengthen its Bitcoin reserves, now valued at $2.18 billion.

Despite its recent Chapter 11 bankruptcy filing, Genesis’ significant investment in Bitcoin is expected to have minimal impact on the market as Coinbase predicts capital will flow within the crypto ecosystem, which could increase demand and the price of Bitcoin.

• Genesis swaps GBTC shares for Bitcoin
• Investment aims to pay off debts and increase Bitcoin holdings

Bitcoin Price Prediction

Bitcoin (BTC) advanced to $69,395, an increase of approximately 0.75%. The pivot point is at $68,572, with resistance at $69,927, $71,711, and $73,765.

Support lies at $66,788, declining to $65,076 and $63,114.

Bitcoin Price Chart

The relative strength index (RSI) stands at 61, hinting at bullish sentiment, while the 50-day exponential moving average (EMA) at $67,984 supports this view.

Bitcoin’s overall trend appears bullish above $68,572, but a fall below this critical level could lead to a significant price decline.

Catch the Slothana Wave: Invest in $SLOTH Before It Hits the Market

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Learning from the Slerf coin saga, Slothana, designed by the experienced Smog team, is poised to make a substantial impact on the market, having already attracted significant investment.

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Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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