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📉 Potential Downward Trend in Bitcoin 📉 The recent drop-off from this year's secondary high in Bitcoin has been significant and swift, indicating the possible onset of a downward trend. While last week saw a brief bounce, it was relatively small compared to the preceding decline, and prices are now trending lower once again. Upon closer examination, measuring the three-legged decline from this year's high and subtracting it from the price/time move off this year's secondary high reveals substantial coverage, suggesting the emergence of a new, expanding biased decline. To validate this hypothesis, Bitcoin must breach April's low within the next 1-2 weeks and experience a more pronounced decline compared to the original three-legged drop-off from this year's high (as depicted by the blue dashed projected line). Stay tuned for further updates as we monitor Bitcoin's movements closely for potential confirmation of this expanding pattern. #BitcoinAnalysis #BTC #BullorBear #bitcoin 📊
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Happy Halving Day! 💕 Bitcoin programmatically halves the block reward approximately every 4 years. The block reward is the amount of bitcoin that the miners receive for successfully adding a block, or group, of transactions to the ledger. It was initially 50 Bitcoin per block. Prior halvings dropped the reward as follows: Nov 2012 25 Bitcoin July 2016 12.5 Bitcoin May 2020 6.25 Bitcoin We say every 4 years but that is clearly not the case. It’s actually every 210,000 blocks. Blocks are targeted to be every 10min but with fluctuating difficulty in mining and the amount of hash power doing the mining, it varies. This block reward is a security measure, incentivizing those with a form of computing power called hash power to maintain and protect the network instead of attack it. As Bitcoin’s network matures and the price of Bitcoin rises, less incentive is needed. With a total of just under 21million Bitcoin ever being produced, the halving reducing the block reward by half, and many early Bitcoin lost, Bitcoin’s value tends to rise over time even looking at year over year lows. Historically, halving has kicked off a bull run leading to the peaks in the market cycle. Given their earnings being cut in half, halving is a time that could be viewed negatively by miners has actually been a positive for price action and therefore the value of the Bitcoin they’re earning. 👩🏼‍🏫 #bitcoinhalving
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📈 Check out the historical #Bitcoin prices at each #Halving event: 2012: $100 2016: $65,000 2020: $880,000 2024: $6,XXXXX (Adding a zero every time!) 🚀💰 #Crypto #BullorBear #bitcoinhalving
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✌️Congratulations to me💐 on winning the first position in the Rising Stars campaign! 🎉 Our achievement is a testament to your talent, creativity, and hard work. Our dedication has not only earned you recognition but has also inspired others within the community. Keep shining bright and continue to share amazing content with the world. Our success is well-deserved, and we are thrilled to celebrate this milestone with you. Once again, congratulations on Our outstanding achievement! 🌟 We look forward to seeing more incredible contributions from you in the future. Best regards, Ansar Iqbal #Binance #RisingStars
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"BTC-USDT Chart Analysis: Nearing Wave-I End with Confirmation Awaited" Based on the analysis provided, it appears that the BTC-USDT chart is currently undergoing a phase where the end of wave-I is anticipated. Symmetricals, which denote price similarities in advances and declines, suggest that this wave is approaching its conclusion. However, confirming the top of wave-I requires a significant drop that surpasses the magnitude and speed of wave-h. Until this confirmation occurs, the conclusion of wave-I and wave-B remains uncertain. Any price meandering observed in the chart would only prolong this uncertainty. Additionally, the possibility of an all-time new high being reached before the anticipated drop unfolds introduces a potential need for structural and expectation adjustments. Traders and analysts should closely monitor the chart for signs of the anticipated drop that would confirm the end of wave-I and wave-B. Patience and diligence are essential in navigating these market dynamics, as premature conclusions could lead to misinterpretations. In summary, the analysis suggests that while wave-I may be nearing its end, confirmation of the top requires a decisive market event. Until then, careful observation and adaptability to changing market conditions are paramount for informed decision-making. #BullorBear #bitcoinhalving #BTC #BTC🔥🔥🔥🔥🔥🔥
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