Bitcoin and altcoins, which suffered a sharp decline after Iran’s attack against Israel over the weekend, are trying to recover before the halving. However, as the tension between the two countries continued, Israel retaliated against Iran and launched a counter-attack at night.
Negatively affected by the news of this attack, Bitcoin fell below $ 60,000 and Ethereum fell below $ 2,900.
However, the market then recovered and BTC rose above $64,000 and ETH rose above 3,000.
While there are only a few hours left until the Bitcoin Halving, these volatile movements in BTC and altcoins make investors nervous, while there is no consensus on how the price may move after the halving.
While some analysts state that the price will rise after the halving, others think that the halving is already priced and there will not be a big rise after the halving.
Speaking to Coindesk, Bizantine Capital managing partner March Zheng said that if the market turmoil continues, the next threshold for Bitcoin will be $55,000.
Jun-Young Heo, derivatives investor at Presto, stated that these declines will be a buying opportunity and said, “Even if there is a panic sale for Bitcoin due to war-related news, this can still be a good buying opportunity.”
Stating that the market is currently focused on the halving, so it seems to ignore the attack, Pythagoras Investments analyst Semir Gabeljic said that the declines are compatible with historical halving cycles:
“Bitcoin fell from 64 thousand to 61 thousand the day before the expected halving event. At this point it is most likely ‘sell the news’ pricing, which manifests itself in a negative BTC funding rate.”
Recent pullbacks, including the last pullback, are all in line with historical halving declines; The only difference and consideration is the uncertainty of the macro landscape ahead, which will create additional volatility in the future.”
*This is not investment advice.
