Bitcoin Gains Positive Momentum Ahead of Halving: Analysts Bullish on Future Outlook

Bitcoin (BTC) Shows Positive Momentum Ahead of Halving

As the highly anticipated Bitcoin halving approaches, the top cryptocurrency by market cap has shown positive momentum after days of extreme volatility.

Data from TradingView indicates that Bitcoin, which had dropped to as low as $64,800, saw a surge in the early hours of Monday, reaching nearly $66,850 before 6 am EDT. At the time of writing, Bitcoin is trading at $66,281, marking a 0.73% increase on the 24-hour chart.

With the halving expected to take place between April 19 and 20, experts are optimistic about Bitcoin’s performance leading up to the event. Analysts like Quantguy and Rekt Capital believe that Bitcoin has weathered the recent storm and is poised for further gains.

Quantguy tweeted, “Bitcoin has had a wild ride this weekend. We have maintained bullishness despite the selloff. The $60K’s have held, and we expect them to hold as a lower bound. The next target is $68.6K.”

Similarly, Rekt Capital shared, “Bitcoin has successfully protected the Range Low of its Re-Accumulation Range as the week of the Bitcoin Halving begins.”

Despite the recent volatility, Bitcoin Archive reminded hodlers to have some perspective, stating, “3 months ago Bitcoin was at $40K and people didn’t believe it would break the all-time high before the halving. Now they panic when Bitcoin dips to $65K.”

Overall, analysts like Michaël van de Poppe of MN Trading are optimistic about Bitcoin’s performance in the coming days. Van de Poppe tweeted, “#Bitcoin consolidating at the range low and hit that level. Still within the range and capitulation took place across the board. Expecting to see higher level tests over the upcoming week.”

As Bitcoin continues to show resilience and positive momentum, investors are eagerly watching to see how the cryptocurrency will perform leading up to the halving event.