Bitcoin Price Prediction: Anticipating $150K Post-Halving Amid Market Corrections
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.
With a market cap of about $1.21 trillion, Bitcoin continues to lead on CoinMarketCap. This cryptocurrency, with 19,685,362 BTC in circulation nearing its max of 21 million, is poised at a critical juncture.
The Bitcoin price prediction now hinges on upcoming market movements and technical indicators, closely monitored by investors and analysts alike.
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.
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.
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