A tech expert at Rekt Capital says that Bitcoin is coming together right now. You don’t have to sell as fast now. It occurred after the split when BTC was in a “danger zone.”
In the past, Bitcoin has been less steady after big events. We now call this place the “danger zone.” This time, the Coin’s value dropped only 6.5% in three weeks. It went up 15% after that, which was a great way to escape during this dangerous time.
“The Post-Halving Bitcoin “Danger Zone” (purple) is officially over,” called it by a famous crypto trader. BTC is happy because it has a good bounce from the support of the Re-Accumulation Range Low.
Bitcoin Support Level Crucial for Price Momentum
It’s worth about $62,600 now, which is 3% more than it was yesterday. Rekt Capital says that the support level of $60,000 is very important for keeping the price going. If it stays that way, the price might go back up to $68,000. Even though trends from the past don’t always tell us what will happen, the strong support level is a good sign for Bitcoin’s progress.
Investors are looking forward to the April Consumer Price Index (CPI) report, which is coming out on Wednesday. Most think that the CPI will be 3.4% and the core CPI will be 3.6%. If prices stay above the Federal Reserve’s goal of 2%, interest rates may stay high for longer.
Arthur Hayes, the founder of BitMEX, thinks BTC will reach $60,000 and stay there until August. The winner of the US presidential election could change the country’s tax and spending rules, which could affect the value of Bitcoin.
Bank of America thinks BTC is worth $150,000 right now and will be worth $200,000 by the end of the year. Their guess comes from changes in policy and more government spending.
A Bitcoin hedge fund called Pantera Capital still thinks Bitcoin will do well. They think it will cost $114,000 by August 2025. Pantera uses a stock-to-flow model and news about past splits to try to guess where the price of BTC will go. There could be a rise in August of next year.
