#BitCoinHalving has been officially executed on the blockchain.๐ฅ
So everyone's inquiry now is, is it time to dive in or pause a bit longer? Be aware, surging or plummeting won't occur immediately after halving. It might take days or even weeks.
Here's my viewpoint: entering prematurely can either make or ruin you.
๐ There's still tension between Iran and Israel despite the media silence regarding Israel contemplating retaliating against Iran. One spark of conflict can once again impact Bitcoin regardless of contrary opinions that war has no impact.
๐ Whales still anticipate the price of $BTC to decrease so they can amass more with their funds. Therefore, they are hesitant to engage at the present price due to the risk that once they boost it, selling pressure could increase, and the price could move against their intentions, resulting in a negative impact on their investments.
๐ The most influential of these whales are the major participants in Bitcoin mining. Sustaining mining setups is extremely expensive, and due to halving, which essentially halves their profit, they need BTC to double in price to maintain their operational expenses. However, for that to occur, they require the whales to increase the price, which is currently not happening.
If operational expenses for the miners become too burdensome, they will be compelled to liquidate some of their BTC holdings, potentially dragging the price down. And what if a conflict suddenly erupts out of nowhere? Then the consequences for Bitcoin will be chaotic. The ripple effect will be enormous, to the extent that even the whales would eventually unload their reserves and wait for the market bottom to recover.
This crypto ordeal is poised to be extremely challenging.
The only path for Bitcoin to reach its pinnacle and a new all-time high is if Israel and Iran ink a peace treaty, then the whales boost the prices from their current level and no other major entities counter them through liquidation,