People say that Las Vegas is popular because it is beautiful. For me, I would rather say it is because of the predictions of getting rich over night.
What makes Bitcoin Beautiful?
It’s because of the prediction which we saw some awful ones here.
Back to Bitcoin Halving.
With the popularity of Bitcoin, while some believe it will sink to $3,000, some are super optimistic that more than $50,000 is at stake. As in, BTC will rise from fairly $9,000 to $50,000+
What’s the Current Price of Bitcoin as the Halving Looms?
According to Coindesk, at press time, the world’s largest cryptocurrency was up just 1% over 24 hours at $8,864, with 10-day and 50-day technical indicator moving averages converging, thus signaling sideways sentiment.
Will we see BITCOIN at $50,000 During the Halving?
As presented by Coindesk, Bitcoin network hashrate had been rising as the May 12 halving approaches. Some analysts and observers forecast a reduction in computing power used once the network’s reward reduction occurs.
Bitcoin halving-related FOMO, or “fear of missing out” as it’s often called, was likely stirred up Wednesday when bitcoin’s price rose 13% in 24-hour trading at one point. More frenzy is expected as the bitcoin halving event gets closer, according to Chris Thomas, head of digital assets at Swissquote Bank.
“For bitcoin, I think we’re going to see some more FOMO here ahead of the halving, then maybe some sharp sell-off straight after the event. Then, a climb through the second half of the year,” Thomas said.
In commodities, oil again experienced a bump Thursday, up 23% as of 20:00 UTC (4:00 p.m. EDT). Also, gold traded down 1.4% and closed the New York trading session at $1,686.
The yellow metal is up 8% on the year while bitcoin has been in the green 31% YTD as of April 30.
Top 10 BITCOIN Halving Predictions on Twitter
Spearheaded by Ivan, who is running the biggest blockchain academy educating smart money, below are the top predictions of crypto users on Twitter.
#1. @ h_chege said — $3,000
#2. @ blockchainmikey — $11,000
#3. @ gsarin1980, said, due to FOMO, it will go to 12k in days only to fall back and settle around 9k quickly.
#4. @ Robertyahya — $11000
#5. @ TagouryEl — $5600 we are going down before we go up I think.
#6. @ CryptoLionel — $14,900
#7. @ edwinneill1 — Warren Buffet & Elon Musk are buying btc, 10k by halvening, 20k end of year
#8. @ vinyarb — 10K on halving day.
#9. @ Rahul_Partagas — $30K
#10. @ pennys2pounds — At least 11k
What is your Bitcoin Prediction During Halving?
Kindly leave your views in the comment section.
What to do & Profit from BITCOIN Halving?
You will do well to invest a spare money you can swallow the hard pill of “depreciation” if BTC dumps. And if it pumps, your opportunity to withdraw your capital and still wait for another boomerang point to profit.
All in all, for sure, volatility is back into the Crypto Market with Bitcoin gaining over 20% in value in just over 1 day. The price is now getting closer to the major resistance around $10,000 and this year’s highs around $10,500.
The thing is, if a downturn were to occur from here we could expect the price to rebound of the strong support at $6,500.
As such you can use a simple strategy that works. With this strategy you can identify how the market is trending and when it will gain strong momentum.
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Parabolic SAR is a time and price technical analysis tool primarily used to identify points of potential stops and reverses. SAR in Parabolic SAR stands for “Stop and Reverse”.
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