The cryptocurrency market has recently experienced stability. Bitcoin, currently priced at around $34,451 according to CMC data, has been steadily rising, according to analysts' observations.
Could the upcoming Bitcoin Halving be the reason for this stability?
The countdown for the Bitcoin Halving has begun, and in about 150 days, the Halving event will take place. Is this event, which keeps investors eagerly waiting and hopeful, going to kick off a long-term bull run?
Many experts predict that the upcoming Halving could propel Bitcoin's price to its all-time high and possibly even challenge the $140,000 mark for the first time.
Captain Faibik, a recognized figure in the cryptocurrency community, shared his views indicating that Bitcoin has shown signs of an uptrend, possibly reaching $39,000 by the end of November. However, the path to the Halving may not be entirely smooth and could be littered with various obstacles. You should also be prepared for a potential correction in Bitcoin's price and a shakeup that might revisit the support and resistance levels around $31,000 to $32,000 in December or early January.
The most exciting part is that the Halving rally is predicted to begin in mid-January 2024. If historical patterns continue, Bitcoin could potentially target the $50,000 level by the end of March, as per estimates. #bitcoinhalving #BTC๐ฅ๐ฅ #halving
