Alas, Bitcoin is on fire again, breaking through the 71,000 mark in one fell swoop! Next, it will continue to soar as the halving draws closer!
Now that the Bitcoin halving is only 11 days away, everyone is speculating on what kind of surprises this will bring to the price. From historical experience, the output of new coins slows down after the halving, and the market often feels that Bitcoin is more scarce, so the price will rise.
The trading volume of Bitcoin ETFs is still breaking historical records, which shows that institutional investors are full of confidence in Bitcoin. As the halving approaches, this trend may make the price of Bitcoin rise faster.
The current price of Bitcoin is about $70,794, and it is about to break through the key price of $69,000. Once this price is broken, especially when it happens with the halving, Bitcoin may start a new round of rising mode.
However, to maintain this upward momentum, Bitcoin must hold the support level of the 50-day EMA at about $57,246. If it falls below this level, the price of $48,699 near the 100-day moving average becomes an important defense line.
Although historical data tells us that Bitcoin tends to rise after halving, the market reaction is different each time. Therefore, everyone should be careful when investing, consider more factors, and don't blindly follow the trend! →宠粉基地
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