Continuing with our posts on the probability and direction of Bitcoin's price action, today I wanted to share with you an analytical approach to the current Bitcoin price range after breaking the $70,000 level.
While there are several hypotheses, one common element in the current Bitcoin bull run has unique characteristics, namely having broken the all-time high of the previous bull cycle prior to the halving that Bitcoin will have in the month of April.
Another element to consider is that, "Although the volatility inherent in cryptocurrency markets remains, a mix of regulatory changes, technological advances and macroeconomic factors suggests that the industry is entering a period with the potential to reshape the future of digital assets."
Consequently, it is worth considering various scenarios before planning any market entry or exit, as the Bitcoin price action development has been sideways and losing volatile strength in the last week, which makes it urgent to cautiously follow the movements to avoid unnecessary losses.
According to Bary Rahma of the BeinCrypto portal, "Unlike previous bullish phases, Bitcoin price fluctuations are becoming less extreme. This is indicative of a maturing market and potentially signals more stable growth in the future.
SOURCES CONSULTED
Cointelegraph. Kraken executive: This bull rally in cryptocurrencies is "like no other." Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: BeinCrypto
