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It's Big & Big #timetobuy these 4 Crtypto Currencies As $BTC is on $66,000 !!!
Bitcoin Price Struggles At $66K But These 4 Crypto Stocks Shine.
The Bitcoin price is currently grappling with major losses while trading at around $66,000, however, experts have recognized four crypto stocks that are expected to perform well.
After a strong performance in 2023 and early 2024, top cryptocurrencies, particularly Bitcoin (BTC), have faced a downturn. Bitcoin, the leading cryptocurrency, achieved an all-time high of $73,750 in March as the price rallied unprecedentedly after the ETF launch. However, it has since experienced a significant pullback.
Bitcoin Price Metrics
Throughout May, Bitcoin remained well below $70,000, and June hasn’t seen much improvement. On June 14, Bitcoin dipped below $65,000 before rebounding slightly to $66,000. Several factors have contributed to the recent decline in the Bitcoin price. One major event was the Bitcoin Halving in April, which reduced the block reward by 50%.
This event occurs every four years to limit Bitcoin’s total supply to 21 million coins. Typically, Halving events boost demand and prices, but this year, the Bitcoin price failed to regain its momentum post-halving. The Halving forced miners to sell their BTC block rewards to avoid losses, thereby catalyzing the bearish trend.
Furthermore, another factor affecting Bitcoin’s price has been the broader economic environment. In April, concerns over rising inflation and potential interest rate hikes caused a pause in the Wall Street rally. While inflation eased in April and May, the Federal Reserve’s uncertain stance on rate cuts has kept investors on edge.