Despite the corona outbreak, the crypto world has been silently moving but not as it was used to, with an unbelievable way. Out of all the crypto assets, Bitcoin is everyone's favourite due to its price escalations for the last couple of years since 2009 where it was at 300 $ Although this year is in an extraordinary situation, Bitcoin has his own story to write despite the pandemic situation. How much BTC is gonna hit at next is the most anticipated question we all have at this time. Let's have a quick look at it what is gonna be like.
Last Wednesday to Thursday was a really exciting period for all of us, cuz BTC has increased its price from $7,700 to $9,500. however, Now it is almost around 9000$ showing a bit of a calm down situation. Experts large that earlier 3000$ to 8000$ is natural due to the actual demand by the BTC investors. BTC experts predict that there will be the possibility of increasing the volumes of BTC since its price increase from 8000$ to 9500$. As per the latest predictions by CME group, May is going to be a crucial month for Bitcoin where its volume has significant capacity in the market.
Impact of the Bitcoin Halving
This is the much waiting moment for every bitcoin holders and its stakeholders as well. Few more days to go to the event as the BTC pricing is moving up. Experts have stated that it has a prominent impact on the mining industry as well. Bitcoin having have been taken places in 2012 and 2016 in two times where it took 10 to12 months to have a significant impact on the bitcoin price. According to one of the expert,
BTC would have to defend the $7,100 support level and avoid a downturn to the mid-$6,000 area. If it can remain above the $7,100 level with strength, Thies believes that $10,600 is a viable target in May.
Another expert mentioned that probably after the BTC halving, price won't lie between 4000$-5000$ once again. and healthy gain of 6500$-7000$ would be possible. In all instances, 9500$ would be a better price for BTC to have some rest for a while without gaining nay significant loss after all. It is a significant fact that the more nearer to the having, the more the fiat market is going to be unstable as for some experts.
In contrast, one of the previous research held in 200-day moving in April that BTC would spike up to $17000 within next six months. But it is yet to be an unsolved question we have no apparent fact that it will go past that margin due to the uncertainty of the market. In the earlier this year situation was extremely different at the time BTC was trading above $10000 where some experts thought 2020 would be a hit year for BTC where they thought the price would lie somewhere in $40000 in 2020. however, the market was attacked by the COVID 19 pandemic situation. As the case may be, 200-day key moving in April has some slight indications that there would be the second spike in the price rally in the market. this will lead us all to a pathetic situation to make conclusions at this point. I may leave that to the experts to give us a clear explanation. Would it be COVID 19 or else BTC halving decide the stable price or something else?. It is up to you. Thanks!