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#BTTC Possible Outcomes of BitTorrent Halving on Its Price
The halving event can have several possible outcomes on BitTorrent's price:
Increased Scarcity: If the halving successfully reduces the rate at which new BTT tokens are created, the reduced supply might lead to increased scarcity. If demand remains constant or grows, this could lead to a price increase.
Market Anticipation: Leading up to the halving event, there might be increased speculation and buying activity, as investors anticipate a price rise post-halving. This speculative activity can drive up the price in the short term.
Network Effects: If the halving is accompanied by increased utility or adoption of the BitTorrent network and its services, the price of BTT might rise due to the perceived increase in the token's intrinsic value.
Post-Halving Correction: In some cases, after the initial price surge due to speculation and anticipation, there might be a correction where the price stabilizes or even drops. This is because the actual impact of halving on supply might take time to materialize, and short-term traders might sell off their holdings.
Impact on Network Participants: If the rewards for network participants are significantly reduced, it might affect their participation levels. A decrease in participation could impact the network's performance and, in turn, the value of the token.
#BTC Could the next move of the king be a revisit to its ATH?
The probability of BTC being in wave 4 (WXY correction) is high, and it is either completed or about to be completed.
Once the correction is over, we may expect the 5th wave to form. The 5th wave is usually anticipated to appear with divergence.
Overall, I do not expect BTC to moon at the moment. Even if a new ATH is suggested, this move could be the first wave in a higher wave structure with a probability of touching or slightly breaking the ATH.
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Elliott Wave Theory, developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behavior of financial markets is not actually chaotic. Instead, markets move in predictable, repetitive cycles or waves, which can be measured and forecasted using Fibonacci numbers. Basics of Elliott Wave Theory: Motive Waves: These are movements in the direction of the larger trend. Corrective Waves: These are movements against the main trend. Market prices alternate between a motive phase and a correct
If the price cannot hold the 0.00000100 level and the historical support here is broken, then the price could fall to 0.00000077 and even to 0.00000055.
If the support level holds, then the resistance levels to pay attention are 0.00000164, 0.00000206, and 0.00000232.
$BTTC
Significant support and resistance levels are shown below on the chart
Which of the following do you favor? Option 1: The correction is complete, and the market is now in an impulsive phase. Option 2: The correction is still in progress.