Since the bear market in 2022, bitcoin (BTC) has witnessed substantial pullbacks, losing up to 23% of its value on some occasions. A popular trader known for several accurate crypto market calls is outlining his Bitcoin forecast after the BTC halving last week. Euro rallied 1.3% off the yearly low with a bounce off downtrend support threatening a test of resistance. Battle lines drawn on the EUR/USD as the market faces uncertainty.
Euro is trading higher for a second consecutive week with EUR/USD building on a rebound off downtrend support. The focus is on this recovery as investors navigate through the bear market. People's wealth could take a huge hit as the stock market peaks after one of the longest bull markets ever, according to an investment report. As the halving approaches, the market has seen a significant downturn, with Bitcoin dropping 19% and altcoins 70%.
The price of BTC has fluttered downward since flying higher than ever a month ago. How low could it go? This would mean the end of crypto's typical four-year bull/bear cycle, seemingly tied to the bitcoin halving, and instead suggest a trajectory. A widely followed crypto analyst says Bitcoin relief is on the way as the imminent BTC halving draws closer.