The risks for Bitcoin
The approaching halving could open unpredictable scenarios in the short term for Bitcoin, which at the same time lives in a precarious context characterized by geopolitical tensions and unfavorable macroeconomic data.
The April 20ththe “halving” date, is ever closer, and despite weeks of constant rising, in the end BTC seems to have succumbed to a bearish trend under $65k, at least waiting for the event.
THE 61 thousand dollarsat this moment, represent a critical levelunder which all the cards on the table could change.
Several traders report on social media the risk of a more significant declineat least up to $56,200, with BTC now at a crossroads: a new pre-halving correction or a new potential rise towards $66,500.
BTC unpredictable in the short term
Just the last 24 hours, with BTC in drop of around 3% (-13% in the last week), have certified the importance of the $61k level, currently maintained but with difficulty.
The halving seems to be affecting Bitcoin these days more than any other factor, and for this reason it is difficult to predict BTC movements in the short term. What is certain is that the volatility is destined to increase.
More in the medium term, however, BTC’s prospects remain bullish, at least for a recapture of the $70k. ETFs can still realize their true potential, and the expansion of these products into the Asian market (starting with Hong Kong) is seen by many as a big bullish factor.
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Tags: Bitcoin hovering #60k risk prehalving dump
