Crypto Recovery 'Right Before The Bitcoin Halving Or Shortly After,' Social Metrics Show
Portfolio Pulse from Khyathi Dalal
Santiment's analysis indicates a potential recovery for Bitcoin either right before or shortly after the halving, based on social metrics showing a shift from FOMO to FUD following a 16% drop in Bitcoin's value since its all-time high. Other analysts predict corrections and buying opportunities around the halving event. The crypto market has seen a significant increase in liquidations, with Bitcoin's price slightly down in the last 24 hours.
April 18, 2024 | 11:42 am
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Bitcoin's potential recovery is anticipated around its halving event, with current social metrics indicating a shift in market sentiment. Recent liquidations and analyst predictions suggest volatility but also potential buying opportunities.
The analysis by Santiment and other analysts suggests a potential recovery for Bitcoin around its halving event, despite recent price drops and increased market liquidations. The shift from FOMO to FUD, along with predictions of corrections and buying opportunities, indicate a volatile but potentially upward trend in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90