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The price of the main cryptocurrency BTC $79,342.52 Bitcoin 1.58% Market capitalization $1.59 trillion VOL. 24 hours $1.16 billion may still be adjusted, as many industry experts have said after the SEC approved several bitcoin ETFs on January 10. Nevertheless, according to experts, a halving of the bitcoin price or a halving this year «will have its impact on cryptocurrency rates.»
After falling by 15% from its January 10 price to January 22, bitcoin returned to support above $ 42,500 during the first five days of February. But it did not stay there for long.
DecenTrader recently predicted that bitcoin would lose another 10% of its spot price, falling to $ 37,800, before finding growing support after halving.
«…Bitcoin has about 30 days to go through a correction phase before finding the expected FOMO demand,» DecenTrader noted in a recent blog post.
According to the analytical tracker CoinMarketCap, at the time of writing, the flagship crypto asset is trading at $ 42,976, showing a minimal daily drop. The market capitalization amounted to $ 843 billion. Daily trading transactions with bitcoin increased by 13.7% to $ 17.6. BTC’s dominance in the market reached 51.1%.
As a reminder, cryptocurrency analysts have also named the date of a new record for bitcoin. According to DecenTrader, the flagship of the cryptocurrency market will «test the resolve of investors» with a sell-off after halving and will update the all-time high (ATH) only in the fourth quarter.