๐จ BITCOIN PLUNGES ๐จ
๐ Bitcoin is currently trading at around $63,000 (-4.74%), while Ethereum dropped to $2,900 (-9.20%). Other altcoins like Solana and XRP experienced drops of over 20%.
The cryptocurrency market is plummeting following the confirmation of Iran's attack on Israel, fulfilling its threats and confirming the alert issued by the White House on Friday afternoon.
While it's true that the conflict in the Middle East is having an impact, we can also interpret the market's downturn as a new correction leading up to the upcoming halving, which is just six days away. Both Bitcoin and other cryptocurrencies could be gearing up for a rebound.๐
It's important to note that historically, cryptocurrencies tend to experience a downward trend before each halving, followed by a period of significant price increase. This is due to the reduction in the supply of new coins that occurs with each halving, leading to increased demand and perceived scarcity.
Following this pattern, the recent plunge in Bitcoin and other cryptocurrency prices may be part of this pre-halving correction process, with the possibility of the market experiencing an upturn in the days following the event.
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