Popular crypto analyst The Flow Horse states that the cryptocurrency may experience a significant rise with the Bitcoin halving event that will take place in April. However, despite this positive view, the analyst warns that some short-term fluctuations may be on the agenda. Details are in our news.
The Flow Horse said that the Bitcoin halving event in April will likely increase the value of BTC as it has in the past. The analyst noted that this event has historically been associated with bull markets. This situation increases the demand along with the decrease in the supply of Bitcoin, thus increasing the prices.
“Since most people in this market are obsessed with intraday activity and try to imitate their favorite traders by using every little move the market has to offer, a little advice: We are on the verge of the most reliable and popular narrative this market has ever seen. It’s a small sample size, but it’s all we have. “Whether it comes from $43,000 or $33,000, higher prices are more likely to emerge during the halving and its immediate aftermath.”
However, the analyst warns that despite this positive development, the cryptocurrency may be vulnerable to short-term fluctuations. is located. According to the analyst, a large supply of Bitcoin flowing into Coinbase, the leading US crypto exchange, could cause short-term uncertainties and price fluctuations in the market.
Transferring large amounts of Bitcoin to Coinbase may affect the balance of supply and demand on the exchange, resulting in price fluctuations. The Flow Horse emphasizes that investors should be wary of these possible fluctuations and that it is important to consider risks when managing crypto assets.
As a result, the analyst predicts that Bitcoin may enter a long-term uptrend due to the halving event, but warns investors that they should also be careful against short-term fluctuations. Investors should follow the developments in the market closely and update their strategies accordingly.
Bitcoin is trading at $43,462, up slightly in the last 24 hours.
You can follow the current price movement here.