FX168 Financial News (Asia Pacific)
In the Asian market on Saturday (April 20), as Iran downgraded its response to the attack, concerns about the further escalation of the Middle East conflict were allayed. In addition, Bitcoin experienced a fourth halving, and Bitcoin reversed its decline and surpassed 64,000 yuan. Today, the crypto community is eagerly awaiting Bitcoin's next move.
News of Israel's response to the Iranian attack affected buyers' demand for risky assets, which fell to a low of $59,691 on Friday. #中东局势 #
After the release of the 840,000 block, Bitcoin successfully experienced a fourth halving event, and the block reward dropped from 6.25 to 3.125.
In an interview with Cointelegraph, Tim Draper, a well-known venture capital godfather in Silicon Valley, believes that #比特币减半 #将有助于将比特币的价格推高至 is “$250,000 or more,” a prediction he has always claimed, especially in 2022.
“The simple reason for the rise in the price of Bitcoin after the halving is a drop in supply, and the price naturally rises in the free market as the upward pressure on demand continues.”
Meanwhile, Herbert Sim (Herbert Sim), the chief operating officer of Websea Official, known as the “Bitcoin Man,” told Cointelegraph that other factors are currently playing a role in speculating on the price of Bitcoin. For example, a spot Bitcoin ETF recently approved in Hong Kong may also have a significant impact on the price.
He added: “China's big banks must also start buying bitcoins themselves.”
Su Zhu, co-founder of Three Arrows Capital, wrote: “I really don't understand the reason for being bearish at this time. The structure was extremely bullish in April. Bitcoin halving is imminent, Ether ETFs are about to be launched, and ordinary people are waking up from a long slumber. We're still in the early stages.”
In an interview with Cointelegraph, Swyftx chief analyst Pav Hundal said that according to the price trend forecast that occurred after the previous halving, the price will rise by at least 100% by 2028, pushing the price of Bitcoin to around 120,000 US dollars.
Henrik Andersson, chief investment officer of Apollo Crypto, an Australian cryptocurrency investment company, said that his optimism is slightly optimistic and expects the peak price of Bitcoin to reach around $200,000 by 2028.
According to Andersson, the 11 #现货比特币ETF #带来的机构角度来看，比特币的更广泛接受度，将进一步提振其价格走势。 recently approved from the US
According to Farside Investors data on Thursday (18th), the Bitcoin ETF market had a net outflow of 4.3 million US dollars, for the fifth consecutive trading day. Until Friday (19th), a day before Bitcoin halved, a net positive inflow was recorded, totaling $59.7 million.
Bitcoin
FXEmpire analyst Bob Mason pointed out that Bitcoin is hovering below the 50-day EMA while remaining above the 200-day EMA, confirming the recent bearish but long-term bullish price trend.
Bitcoin's break above the 50-day EMA will allow the bulls to run above the $69,000 resistance level.
Conversely, if Bitcoin falls below the $64,000 support level, the $60,365 support will come into play.
The 14-day RSI reading is 44.87, and Bitcoin could fall to the $58,000 mark before entering the oversold region.
(Source: FXEMPIRE)
Ether
Bob Mason said that Ether is still below the 50-day EMA while hovering above the 200-day EMA, confirming short-term bearish but long-term bullish price signals.
Ether's breakout of the $3,244 resistance level will support its move towards the 50-day EMA. A break above the 50-day EMA will put the $3,480 resistance into play.
Conversely, if Ether falls below the $3,033 support level, bears could rush towards the $2,800 mark.
The 14-day RSI reading was 40.38, indicating that Ether fell to the $2,800 mark before entering the oversold region.
(Source: FXEMPIRE)
Ripple
Bob Mason said that Ripple is hovering below the 50-day and 200-day EMAs, confirming a bearish price signal.
The 50-day EMA still converges to the 200-day EMA, and a bearish cross between the 50-day EMA crossing over the 200-day EMA will be a signal to sell.
Ripple crosses the bottom and top trend lines and will allow the bulls to run near the $0.5739 resistance level and the 200-day and 50-day EMAs.
The selling pressure at the $0.5739 resistance level is likely to increase. A fall below the $0.48 mark will put the $0.45 level into play.
The 14-day RSI reading was 36.09, indicating that Ripple fell below the $0.48 mark before entering the oversold region.
(Source: FXEMPIRE)