Bitcoin has fallen by about 2.5% in the last 24-hour period, hovering around $ 38500. One of the most popular topics in the cryptocurrency market lately is Bitcoin’s four-year halving cycle and its effect on price.
As a target for bitcoin in 2021 by many analysts and commentators 100,000 shown The dollar level could not be reached and it is wondered what will happen for the year 2022.
Bitcoin can now be called the critical level $40,000 level below, and many analysts 40,000-45,000 He thinks that the probability of recovery to the dollar range is high.
The four-year half cycle Wolves of Crypto, one of the crypto phenomena on Twitter, who made a general analysis, in sharing He said his expectations.
In this analysis, in November last year, The level of $ 68,789 For Bitcoin’s cycle is the highest level and currently in the fix phase after loop thinks it is. Also Wolves of Crypto:
The 200-week simple moving average (SMA) marks the end of a long-tested and in-contact bear market for Bitcoin. Therefore, the bottom levels will be here and it will fall to about 24,000 dollars.
said.
Also, according to this analysis, Bitcoin priceIn August or September of 2023, it will exceed its previous high of $69,000.
Is Bitcoin In The Buy Zone?
Cryptocurrency analyst Philip Swift, on the other hand, thinks that Bitcoin is at the level of accumulation. according to Swift active address sensitivity indicator (AASI) of bitcoin you are in the receiving zonehe is showing.
Swift said, “According to the AASI, it is now back in the green zone, which indicates that it is a reasonable level for a price change in Bitcoin.” said. Also analyst:
This indicator works with high accuracy for the transition to bull and bear markets on medium-term signals.
said.
The information contained in the content is only the opinions of analysts. It does not contain any investment advice.