Bitcoin has hit $46,000 and is heading towards $48,000, but analysts warn “a crash is coming soon.”
Cryptocurrency analysts say the pre-Bitcoin halving rally has begun and now is the time to prepare to face the next big crash.
The current trading price of Bitcoin (BTC) is $46,117 and it is up 3.5% in the last 24 hours.
Over the past seven days, Bitcoin’s trading price has surged nearly 7.5% from $42,500 to $46,000 as stability improves on expectations of the Bitcoin halving event.
Market sentiment suggests that this rally will stop at the $48,000 trading level, after which it will start to face a downtrend. If Bitcoin follows the pattern of past Bitcoin halvings, the decline could be as much as 30%.
Earlier, we already reported that the Bitcoin market is ready to participate in a pre-Bitcoin halving rally. Now people must understand that investing in Bitcoin will not be safe for short-term traders as the price will crash significantly after this month.
Cryptocurrency Fear and Greed Index
The Fear and Greed Index reading for this innovative sector is currently at 72, which shows that the level of greed among cryptocurrency traders is moderately high.
Simply put, the majority of cryptocurrency investors are confident that the market will continue to rise in the future.
Financial Guru Ditch Banks Support Bitcoin
On February 8, 2024, popular financial expert Robert Kiyosaki spoke about America’s bad financial economy, considering the failure of several banks.
Kiyosaki said people who suffered financial losses would lose their money because banks would fail.
He also said that people should focus on investing in Bitcoin, gold and silver instead of holding US dollars (fiat currency) in their bank accounts.
According to Kiyosaki, these investment assets are your best parachute to save yourself from a collapsing economy.
Also Read: Cryptocurrency Trading and Crypto Investment Profits Are Now Tax-Free in Thailand