Connect with us

Hi, what are you looking for?

Crypto

Anticipating $150K Post-Halving Amid Market Corrections

Last updated:

| 3 min read

Bitcoin Price Prediction

As Bitcoin trades at $61,577, down by approximately 2.50% with a $42 billion trading volume over the last 24 hours, market watchers are paying close attention.

Riot Platforms and CleanSpark Poised for Growth Amid Bitcoin Halving, Says Bernstein


Ahead of the upcoming Bitcoin halving, the “miner fear factor” is at an all-time high, driving investor focus towards Riot Platforms (RIOT) and CleanSpark (CLSK). Bernstein, in a recent research note, highlighted these companies as top picks, applauding their exceptional performance and leadership in self-mining hashrate.

Despite Bitcoin mining stocks lagging behind Bitcoin’s price year-to-date, the halving—which will cut mining rewards by 50% and slow Bitcoin supply growth—is expected around April 19-20.

This event historically precedes significant Bitcoin price increases, although this cycle saw early gains due to ETF approvals in January.

  • Market Context: Recent ETF approvals spurred early 2024 Bitcoin price increases, but a recent 15% drop in Bitcoin’s price followed due to slower ETF inflows.
  • Future Outlook: Bernstein anticipates a return to bullish trends post-halving as mining adjustments and resumed ETF inflows drive demand. They predict Bitcoin could reach $150K by 2025, supported by ongoing demand from wirehouses and registered investment advisors rolling out spot Bitcoin ETFs.

Bitcoin Price Prediction


Bitcoin (BTC/USD)‘s current pivot point sits at $64,566, serving as a key threshold for the day’s trading dynamics. The asset faces immediate resistance at $67,063, with further resistance levels observed at $69,394 and $72,732.

On the downside, Bitcoin finds strong support at $59,869. Should this level fail, subsequent support levels at $57,135 and $54,359 could come into play.

The technical indicators on the 2-hour chart suggest a bearish sentiment. The Relative Strength Index (RSI) stands at 32, indicating that Bitcoin is potentially oversold but still under pressure as the RSI remains below the midline of 50.

This suggests continued bearish momentum in the short term. Additionally, the 50-Day Exponential Moving Average (EMA) at $63,850 acts as a resistance level, reinforcing the downward trend observed on the chart.

Bitcoin Price Prediction – Source: Tradingview

The current market setup shows Bitcoin navigating through a downward channel, with the $63,850 level aligning with both the 50 EMA and recent price actions to form a significant resistance zone.

Conclusion: While Bitcoin remains bullish above its immediate support at $59,869, a breach below this mark could trigger a sharp selloff, potentially testing lower supports at $57,135 and $54,359.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.



Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

This article was written by Follow Long-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future...

News

America’s Car-Mart, Inc. (NASDAQ:CRMT) Q2 2025 Earnings Conference Call December 5, 2024 9:00 AM ET Company Participants Vickie Judy – CFODoug Campbell – President...

News

Genesco Inc. (NYSE:GCO) Q3 2025 Earnings Conference Call December 6, 2024 8:30 AM ET Company Participants Darryl MacQuarrie – Senior Director of FP&AMimi Vaughn...