👉👉The date on which Bitcoin will recover and rise has been determined! Expert Pointed Out That Period! 👈👈

After last week's big drop, Bitcoin (BTC) is trying to regain the support level around $56,000, but the total market cap has fallen by approximately 3.3 percent in the last 24 hours to $2.14 trillion. This decline increased short-term pessimism in the market, as the lack of significant events in the cryptocurrency market also reinforced concerns.

According to analysis, Bitcoin is expected to mirror the ongoing bull run of major stock indices as the year progresses. Additionally, it is predicted that the market may recover as miners, who took a break to update their mining devices, restart their operations. Particularly under the influence of the fourth block reward halving event, institutional investors' interest in Bitcoin and other altcoins is expected to increase.

Experienced Bitcoin analyst and economist Timothy Peterson predicts that Bitcoin will enter an upward trend in the fourth quarter of 2024. According to Peterson, if Bitcoin manages to close July above $50,000, it is likely to remain above this level until October. The analyst notes that there is a 60 percent chance that Bitcoin will trade higher than its current level, three months after experiencing a 25 percent drop from its all-time high. He adds that there is a 25 percent probability that Bitcoin will reach a new all-time high in the same period.

Assessment of Market Impact

Bitcoin price is in its biggest correction following significant gains since the beginning of last year. The adoption of Web3 protocols and cryptocurrencies by institutional investors has significantly increased liquidity and bullish sentiment in the market.