A widely followed crypto analyst said a bailout for Bitcoin is underway as the impending BTC halving approaches.
The BTC halving is a pre-programmed event that occurs every four years and halves the rewards for BTC mining.
Analysts and experts expect the next BTC halving to occur within days, or even hours.
Michael van de Poppe, one of the analysts, said: To tell His 712,800 followers on social media platform X claim that BTC has an opportunity to fight back from the $61,000 area.
“There is a huge potential for Bitcoin to rise out of this area and see some relief.
As the halving approaches, the hype around Bitcoin is slowly fading away and the narrative will change. ”
As BTC is currently trading around $64,000, analysts say: indicates King Crypto is recovering as planned.
“Bitcoin halving!
Good response from the low range.
Things are going well. ”
At the time of writing, the value of BTC was $63,699, up 0.4% in the past 24 hours.
Van de Poppe shifts gears to altcoins To tell The end of the long bear market may already be here.
“The altcoin bear market has been going on for three years.
The bottom may come after last week. ”
looking for in particular Analysts at blockchain oracle altcoin Chainlink said LINK is well positioned to trade with BTC.
“Chainlink is a huge thing to watch in this BTC valuation.”
The value of the link was 0.00022 BTC ($13.78) at the time of writing, up 1.6% in the past 24 hours.
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