Recent data on Bitcoin price movement suggests that the market may have reached a crucial turning point. The asset is showing the first signs of a rise in the past six months, which may indicate a weakening of the selling pressure.
Current Market Situation
The last dip saw BTC prices drop to $53,300, which was not as low as the previous dip of $50,000 on August 5. Analyst 'Mando' observed this potential trend reversal, although some experts believe that the market could see even lower lows.
Analysts' Optimistic Forecasts
Investor and analyst 'Kaleo' believes that Bitcoin is in a healthier position now than it was at the same point post-halving in previous cycles. Currently, BTC is down only 19% from the last cycle's top, compared to a 46% dip after the 2017 peak. Analyst 'Rekt Capital' also predicts that if history repeats, the next bull market peak could occur 518-546 days after the halving.
Impact of Inflation on the Market
Analyst James Check links the current market sentiment to weakened purchasing power due to high inflation over the past three years. He indicates that the real price of BTC, when adjusted for inflation, may be significantly lower than stated, affecting investors’ outlook.
Analysts cautiously optimistic see the current market changes in Bitcoin as possible signs of a trend reversal, despite ongoing economic risks and inflation impact. Forecasts point to potential strengthening of the asset in the near future.
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