Jumat, 20 Desember 2024

Bitcoin pullback mirrors 2020 reversal 250 days post-halving, it then rose 140%

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Bitcoin pullback mirrors 2020 reversal 250 days post-halving, it then rose 140%

Repeating history? Bitcoin's cyclical journey suggests potential rise to $225,000.

CryptoSlate

Dec 20

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Happy Friday!

Bitcoin's recent market movements have sparked a mix of optimism and caution among investors. After reaching an all-time high of over $108,000, Bitcoin has experienced a notable pullback, reminiscent of its historical patterns post-halving. Analysts are drawing parallels to the 2020 cycle, where Bitcoin saw a significant rise after a similar retracement, suggesting a potential climb to $225,000 in the future. However, the current market sentiment is weighed down by Jerome Powell's remarks on interest rates and concerns over a possible government shutdown, leading to substantial liquidations across the crypto space. As 21Shares prepares to launch a Polkadot trust in Delaware, the ETF landscape continues to evolve amid these turbulent times. Stay tuned for more insights as we navigate this dynamic market.

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The global crypto market cap is $3.33 trillion, with a 24-hour volume of $360.23 billion. The price of Bitcoin is $97,180.86, and BTC market dominance is 57.6%. The price of Ethereum is $3,375.12, and ETH market dominance is 12.2%. The best-performing sector is Derivatives, which gained 6%. The Crypto Fear & Greed Index is currently Greed (74).