Bitcoin {{BTC}} started the week stable, changing hands above $65,800, as transaction fees have significantly lowered following the halving. On-chain data from Mempool.space shows that medium-priority transactions are now costing $8.48 while high-priority transactions cost $9.32.
In the initial aftermath of the halving, these fees spiked to over $146 for a medium-priority transaction and $170 for a high-priority transaction. The hashprice index, a metric created by Luxor to quantify how much a miner can expect to earn from a specific quantity of hashrate, has also dropped from $182.98 per hash/day to $81, a level below where it was at pre-halving. While bitcoin miners anticipated that the halving would significantly cut revenue, the introduction of Casey Rodarmor’s Runes protocol – designed to create fungible tokens on Bitcoin – which went live at the halving, was supposed to be the antidote to this, given the level of activity it would create on-chain. Instead, in the initial days after the event, floor prices for the runestone NFT collection have dropped by almost 50% in the last 24 hours with a floor price of nearly 0.037 BTC, according to Magic Eden, while ordinal collections like Bitcoin Pullets and NodeMonkes are up 11% and 8% respectively It should be noted that these ordinal collections also generate considerable transaction fees but don’t appear to be the same revenue source as many hoped Runes would be. $BTC
April 19th 2024, in the evening US Eastern time. Historically, halving events have been associated with increases in Bitcoin's price, attributed to its reduced supply growth rate and increased scarcity.
$BTC Alert! 🚨 it has gone up non stop for the past two days! So right now I’m confident to say we are heading towards a dump 🔥 🔔Short entry NOW: 70,000/69,500 TP: 68,000 67,000 66,000 65,000 SL: 72,000 I always advise to use less leverage than most to avoid potential losses. 5x-10x has always worked for me
If $BTC has succcesfully surpassed the 67k~68k level, its has higher probability on going up to 70k ~ 75k level. However if its failed to go thru the aforementioned level above, it might goes sideways around 61k~66k again Usually before halving there’s a big drop in price followed by vertical price increases later. Best of luck. Be safe, Godspeed. #HotTrends #writw2earnn #GALA #btc
**CRYPTO ALERT!** ⚠️ 📉 Watching the market closely for 48 hours, but #BTC keeps surprising me. 💭 Initially believed $65k was a strong support, but apparently not. 🚀 Despite the fluctuations, #BTC remains optimistic! 📈 Hoping yesterday's dip marks a higher low, anticipating further upward movement! 🎯 Key resistances lie ahead, serving as potential launchpads for bullish momentum. 📈 Time to aim for new peaks!
today's support and resistance $BTC $62200-$67500 if 68k level crosses, it will break old $73777 level. if $60775 level breaks, it will reach 50-55k level again .
Hello everyone, investors, and traders! We're getting close to the Halving event. Just like four years ago, Bitcoin tends to decrease in value about 30 days before the Halving. Last time, it dropped by 65%, then started rising again. Right now, Bitcoin is probably starting to drop again, but that's okay. For investors, it's a good time to buy while prices are low before they go up again. For traders, it's a good time to sell high and wait for prices to drop further before buying back. Bitcoin currently faces resistance at around 62k, with stronger resistance between 60k-60.5k. If it drops below 60k and stays there, it could fall further to 50k this weekend. This could also affect meme coins and alternative coins like $BOME and $PEPE, which are likely to fall too. Remember, despite what people say, history tends to repeat itself, so be cautious. Smart decisions now can lead to gains in this historic time.
If $BTC cannot close today's candlebar above $64100 tomorrow it will be at $62000, and then $59000. This is all normal predictable movement. But $59000 is a critical level, if we go below $59000 -which I don't think we will-, the price will go a lot deeper and we will face a red market for at least 2 weeks straight. Other than that, I will wait for today's close price. And make a few portfolio adjustments according to that. Stay tuned.
$BTC and $ETH will not be able to go beyond $70,000 and $4,000 this week, respectively. This means that on Saturday morning it will be possible to buy #Bitcoin(BTC) at a price of $62000-63000, and #ETH✅ at $2900-3000. #HotTrends #BTCBearish