#Bitcoin Price Prediction: Buy or Sell as Market Cap Hits $1.4 Trillion?

#BTC fell 0.5% today, staying at $70,700 despite the crypto market falling 1%.

Bitcoin has gained 5.5% in a week and returned to $1.39 trillion in market worth.

While it is down 3% in the previous 30 days, its 135% increase in the last year shows medium-term strength that may only grow in the coming months.

BTC might see additional rallies shortly with the next halving just over a week away and Bitcoin ETF volumes stabilizing and maintaining strong.

BTC has fluctuated this morning, but not enough to derail its progress.

Its 30-day average (orange) stays above its 200-day (blue), indicating a growth spike.

Its relative strength indicator (purple) has increased beyond 50 today and may grow with BTC's price.

BTC's chart's resistance (red) and support (green) levels continue to converge, indicating that the currency is reaching a tipping point that might lead to a huge surge.

Bitcoin is the most popular currency in the market by a large margin, with CoinsShares reporting that $13.5 billion has poured into it this year.

However, its closest competitor (ETH) has only received $52 million in fund flows over the last year, and this gap is unlikely to improve (until Ethereum ETFs are approved).

BTC still has the next halving, which may cause a short-term slump, but the supply crunch should boost its price.

In a backdrop of probable Federal Reserve rate decreases, the halving will improve investor interest for risk-on assets like BTC.

Based on this, Bitcoin might reach $75,000 in a few weeks and $100,000 by year's end.

$BTC #bitcoinhalving