Bitcoin (BTC) Completing Its 4th Halving Is Slowly But Steadily Gaining Upward Momentum

The long-awaited Bitcoin halving in the crypto market took place on April 20, but although Bitcoin's decline and even falling below $60,000 on April 19 worried some investors, Bitcoin managed to recover quickly. The increase in geopolitical tension caused sharp declines in crypto markets, as in many markets, but the slight decrease in geopolitical tension caused relief in the markets. Bitcoin, which was in a downward trend until the halving was completed after testing around $ 73,000, eventually started to recover after the halving and reclaimed $60,000, and began to slowly but steadily gain upward momentum.

Bitcoin (BTC) Daily Chart

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Bitcoin (BTC) has made a strong start to the new week and is currently trading at $66,022. In particular, the upward break around $60,000 signaled the end of the correction and decline, and Bitcoin confirms this in the new week, gaining upward momentum.

When we look at the history of Bitcoin halving, many people rightfully hope that Bitcoin will rise even higher, but on the other hand, when geopolitical tensions increase and the fear of high amounts of Bitcoin sales was added, some investors began to fear and worry. Although these trigger the decline, Bitcoin clearly signals that it has no intention of falling, on the contrary it will move even higher.

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Two days ago, I said on #Threads, "I think the fear of the halving will end soon and then #bitcoin will soar to a new peak." And today it seems clear that the fear of the halving has diminished. Let's see when my second prediction will come true.

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By the way, although the BTC price on Threads appeared to be 66,194 dollars, the BTC price was much lower when I post this thread. Since crypto prices on threads are dynamic, the price at the moment I take the screenshot appears.

I also said on #Threads yesterday that "#bitcoin halving excitement has not started yet". I still think that the Bitcoin halving excitement has not started yet, but Bitcoin is giving a strong signal that it will start soon. If Bitcoin manages to stay above $66,000, the upward momentum could increase further and move to $68,000, and especially breaking the resistance at $68,000 could trigger a big bounce. However, on the other hand, the FED's continuation of its tight interest rate policy or the increase in geopolitical tension may negatively affect the Bitcoin price, like all money markets.

In fact, it is not surprising that Bitcoin price rose even further as transaction fees dropped significantly after the halving.

Current Bitcoin Transaction Fees

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According to data on Mempool space, transaction fees appear to be $1.85 for non-priority transactions, $8.23 for low-priority transactions, $8.87 for medium-priority transactions, and $9.34 for high-priority transactions. At the beginning of the halving, transaction fees were as high as $146 for a medium-priority transaction and $170 for a high-priority transaction, and it appears that transaction fees have dropped significantly.

I remain very optimistic and bullish on Bitcoin, and although there may be short-term dips, I believe Bitcoin will eventually hit new ATHs. I believe that not only Bitcoin but also altcoins with strong infrastructure will follow Bitcoin strongly. Already, some altcoins have followed Bitcoin's recent rise strongly and show how enthusiastic they are about it. I would like to say that I am very optimistic especially about HIVE, I can say that HIVE is the crypto I have bought the most lately.

Thank you for reading
@rtonline

This is not investment advice,I am just talking about current developments and only my personal opinions. As with all money markets, anything can happen in the crypto market at any time, so please do your own research before investing.

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