{"id":527977,"date":"2023-04-21T18:27:43","date_gmt":"2023-04-21T18:27:43","guid":{"rendered":"https:\/\/wncen.com\/?p=527977"},"modified":"2024-06-11T10:42:31","modified_gmt":"2024-06-11T10:42:31","slug":"is-the-final-shakeout-moment-coming-for-bitcoin-expert-weighs-in","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-the-final-shakeout-moment-coming-for-bitcoin-expert-weighs-in\/","title":{"rendered":"Is The Final Shakeout Moment Coming For Bitcoin? Expert Weighs In"},"content":{"rendered":"

In January of this year, Bitcoin broke above its 200-day MA for the first time since the end of 2021. This was a significant milestone for the cryptocurrency, as it had not seen such a signal in over a year. This breakout was a clear indication of Bitcoin’s bullish momentum and its potential for further growth in the future.<\/span><\/p>\n

Additionally, Bitcoin retested the 200-day moving average in March and remained well above it, demonstrating its robust behavior. However, the leading cryptocurrency is approaching a lower-level retest at $28,000. Whether Bitcoin will withstand further price decline and continue its bullish trend or if a final shakeout is imminent.<\/span><\/p>\n

Bitcoin’s Halving Cycle And Potential Dip Below The 200-Day MA<\/b><\/h2>\n

Recently, there has been speculation that Bitcoin\u2019s price might be poised for a significant rally as spring arrives. However, the situation is not quite simple as with many things in the crypto world.\u00a0<\/span><\/p>\n

According <\/span><\/a>to the expert in the cryptocurrency industry, Mr. Ben Lily, the current halving cycle is an important factor to consider when evaluating Bitcoin\u2019s price movements. When BTC comes off halving cycle lows, it commonly does not immediately clear the 200-day moving average (MA) and stays above it.<\/span><\/p>\n

Instead, it tends to return below the 200-day MA before ultimately moving on to form all-time highs. This pattern can be observed in the chart below, which shows the 200-day MA (represented by the dark red line) and the orange circles, which indicate when the price dipped below the 200-day MA.<\/span><\/p>\n

\"Bitcoin
BTC’s 200dMA breakout behavior. Source: Ben Lily<\/a><\/figcaption><\/figure>\n

Furthermore, Lily argues that nothing suggests that the market should expect anything different this time. He believes a catalyst coming this summer will coincide with Bitcoin’s price dipping below the 200-day MA.\u00a0<\/span><\/p>\n

FedNow Rollout And Bitcoin: A Tale Of Two Timing<\/b><\/h3>\n

Additionally, Ben Lily has provided further analysis on the potential impact of the upcoming rollout of the Federal Reserve’s CBDC, FedNow, on Bitcoin\u2019s price movements. According to Lily, if the rollout occurs as scheduled in July, it could benefit BTC\u2019s price trajectory.<\/span><\/p>\n

However, Lily notes that in each of the last three halving cycles, Bitcoin\u2019s price dipped below the 200-day moving average (MA) between 217 and 315 days before the halving itself. If this pattern holds for the current halving cycle, we can expect BTC\u2019s price to dip below the 200-day MA sometime between June and August.<\/span><\/p>\n

With FedNow set to roll out in the middle of that period, Lily suggests we can expect regulator “war drumming” to be at a fever pitch. This could lead to a final shakeout moment as Bitcoin drops below the 200-day MA, creating a higher low in the market.<\/span><\/p>\n

At the moment of writing, Bitcoin, the largest cryptocurrency by market capitalization, is being traded at $28,000, indicating a decrease of over 2.5% in the last 24 hours. And, as reported<\/a> yesterday by NewsBTC, the $27,700 line is key for Bitcoin, as a breakout below this level could signal a shift in the market sentiment and potentially lead to a further decline in price.<\/span><\/p>\n

\"Bitcoin
Bitcoin is retesting the $28,000 level on the 1-day chart. Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, chart from TradingView.com<\/p>\n","protected":false},"excerpt":{"rendered":"

In January of this year, Bitcoin broke above its 200-day MA for the first time since the end of 2021. This was a significant milestone for the cryptocurrency, as it had not seen such a signal in over a year. This breakout was a clear indication of Bitcoin’s bullish momentum and its potential for further growth in the future. Additionally, Bitcoin retested the 200-day moving average in March and remained well above it, demonstrating its robust behavior. However, the leading cryptocurrency is approaching a lower-level retest at $28,000. Whether Bitcoin will withstand further price decline and continue its bullish trend or if a final shakeout is imminent. Bitcoin’s Halving Cycle And Potential Dip Below The 200-Day MA Recently, there has been speculation that Bitcoin\u2019s price might be poised for a significant rally as spring arrives. However, the situation is not quite simple as with many things in the crypto world.\u00a0 According to the expert in the cryptocurrency industry, Mr. Ben Lily, the current halving cycle is an important factor to consider when evaluating Bitcoin\u2019s price movements. When BTC comes off halving cycle lows, it commonly does not immediately clear the 200-day moving average (MA) and stays above it. Instead, it tends to return below the 200-day MA before ultimately moving on to form all-time highs. This pattern can be observed in the chart below, which shows the 200-day MA (represented by the dark red line) and the orange circles, which indicate when the price dipped below the 200-day MA. Furthermore, Lily argues that nothing suggests that the market should expect anything different this time. He believes a catalyst coming this summer will coincide with Bitcoin’s price dipping below the 200-day MA.\u00a0 FedNow Rollout And Bitcoin: A Tale Of Two Timing Additionally, Ben Lily has provided further analysis on the potential impact of the upcoming rollout of the Federal Reserve’s CBDC, FedNow, on Bitcoin\u2019s price movements. According to Lily, if the rollout occurs as scheduled in July, it could benefit BTC\u2019s price trajectory. However, Lily notes that in each of the last three halving cycles, Bitcoin\u2019s price dipped below the 200-day moving average (MA) between 217 and 315 days before the halving itself. If this pattern holds for the current halving cycle, we can expect BTC\u2019s price to dip below the 200-day MA sometime between June and August. With FedNow set to roll out in the middle of that period, Lily suggests we can expect regulator “war drumming” to be at a fever pitch. This could lead to a final shakeout moment as Bitcoin drops below the 200-day MA, creating a higher low in the market. At the moment of writing, Bitcoin, the largest cryptocurrency by market capitalization, is being traded at $28,000, indicating a decrease of over 2.5% in the last 24 hours. And, as reported yesterday by NewsBTC, the $27,700 line is key for Bitcoin, as a breakout below this level could signal a shift in the market sentiment and potentially lead to a further decline in price. Featured image from Unsplash, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":527979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,78790,6664,1558],"class_list":["post-527977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\nIs The Final Shakeout Moment Coming For Bitcoin? Expert Weighs In<\/title>\n<meta name=\"description\" content=\"There has been speculation that the price of Bitcoin might be poised for a significant rally as spring arrives. 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/wncen.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is The Final Shakeout Moment Coming For Bitcoin? 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