Bitcoin is currently trading at a three-week high, following some recent gains. Analysts are optimistic about the coin’s future, saying that this dip before the upcoming Halving could be your last chance to buy at a discount.
Bitcoin’s Rise: Trading at a 3-Week High
Since March 15th, Bitcoin has been on a downward trend, after reaching a new all-time high of $73,800. However, it has since recovered and is now trading above $65,000.
The Halving: What to Expect
The Bitcoin Halving is scheduled to happen in about ten days. During the Halving, the network automatically halves the rewards that miners receive for securing the platform. This could lead to a supply crisis, especially if demand remains high.
Bullish Indicators Support Bitcoin
Analysts believe that institutions are accumulating Bitcoin through spot Bitcoin exchange-traded funds (ETFs). They also point to technical indicators that suggest the coin is breaking out of a bullish flag and that the MACD indicator is nearing a “bull cross.”
Traders Await Confirmation
Traders are eagerly waiting for confirmation of this bullish momentum on the daily charts, especially in the two weeks leading up to the Halving. If confirmed, it could signal a significant rise in Bitcoin’s price.
