As Bitcoin gets closer to a big event called the halving, people who like Bitcoin are trying to figure out if the price going down is just a small problem or if it means something worse might happen. This story talks about what experts found when they looked at how people who recently bought Bitcoin are doing.
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- Experts are looking at Bitcoin as it gets close to a big event, checking on people who recently bought Bitcoin and what the numbers say about the market.
- The numbers show Bitcoin’s price might stay steady or could drop more, especially because of recent trouble between countries.
- Despite the ups and downs right now, the future for Bitcoin looks good, and the big event might not change as much as people think.
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Bitcoin Faces a Critical Moment Ahead of the Next Halving
Bitcoin is a type of money on the internet that a lot of people are excited about because it’s new and can change how we use money. But its price goes up and down a lot. One important thing the experts looked at is called the MVRV ratio for people who bought Bitcoin not too long ago. This ratio is kind of like a seesaw, and right now, it’s right in the middle, which could either help catch Bitcoin’s price if it falls or make it hard for the price to go back up if a lot of people’s Bitcoin is worth less than what they paid for it.
The experts also talked about something called the SOPR, which recently showed that these new Bitcoin buyers are losing money. If this keeps happening, it could mean the price of Bitcoin might keep going down for a while.
There’s also been some trouble between two countries, Iran and Israel, which made some people sell their Bitcoin in a hurry, causing them to lose money. The expert, Check, thinks it’s interesting when people sell because they’re scared, as it can mean there’s a chance for others to buy Bitcoin at a good price.
Even though there’s worry that if the price of Bitcoin falls too much, it could be bad, right now, Bitcoin is still doing okay at $64,000.
Looking at the bigger picture, there’s still a lot of hope for Bitcoin in the future. An indicator called the AVIV momentum shows that, overall, Bitcoin is expected to do well, even though it’s going through a bit of a rough patch right now.
As the halving event gets closer, the expert, Check, thinks it might not be as big of a deal as some people think. When you compare how much Bitcoin is bought and sold every day to how much Bitcoin is made, the new Bitcoin made from mining is just a tiny part. So, the halving might not change things as much as people expect.
The story ends by inviting readers to learn more about Bitcoin and other cool topics by signing up for a newsletter. This way, they can get more information and stay ahead in the fast-moving world of technology and money.
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