In recent weeks, the Bitcoin price has skyrocketed, surpassing the $50,000 barrier. Many experts anticipate another surge to all-time highs before or after the Bitcoin halving. But may Bitcoin price fall back to $30,000 in the immediate term?
How has the Bitcoin price moved in recent weeks?
Bitcoin’s price has risen dramatically in recent weeks. At the beginning of the year, the exchange rate was still at 44,000 dollars, but it has risen nearly dramatically in recent weeks. Shortly after the approval of Bitcoin Spot ETFs, the Bitcoin price plunged below 40,000 dollars.
However, it fell sharply after that, and the Bitcoin price first soared beyond the critical threshold of 50,000 dollars, then passed the mark of 52,000 dollars. In recent days, there has been a sideways movement around the $52,000 mark.
Bitcoin Price Crash: Can a strong correction happen again?
Bitcoin prices might have a significant fall before exploding to all-time highs. In recent years, bull markets have had many 20% to 30%declines.
As a result, a significant adjustment is possible before that. However, in recent cycles, BTC prices have fallen considerably more sharply following the Bitcoin Halving, before to the parabolic bullrun.
Bitcoin Price Crash: Can Bitcoin’s price fall to 30,000 dollars?
As a result, the Bitcoin price may see a more significant fall in the coming weeks. However, the positive indications, the Bitcoin Spot ETFs, and the low liquid quantity of bitcoins should result in corrections of little more than 20% in this cycle.
This implies that the Bitcoin price might fall again to 40,000 dollars. However, a drop to 30,000 dollars is far less conceivable. This would result in an unforeseen occurrence, such as a big financial disaster.
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Source: https://cryptoticker.io/en/bitcoin-price-crash-to-30000/