Crypto analyst Willy Woo has predicted double-pump cycle for Bitcoin
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Just days after achieving a new all-time high of $73,835, Bitcoin experienced a sharp decline, with its value to $63,124, marking a 7.46% decrease over the last 24 hours. This downturn has taken many by surprise, especially considering the momentum Bitcoin had been gaining in the lead-up to its latest peak.has raised among investors, Woo's analysis offers a silver lining. His tweet suggested that the market may see Bitcoin’s top by mid-2024 and a second top in 2025.
Such events have traditionally led to significant price movements for Bitcoin, adding another layer of anticipation and speculation around its future value. The halving, a predetermined event that occurs approximately every four years, will see the reward for mining new blocks halved, thus reducing the rate at which new coins are generated. This scarcity effect has, in the past, led to increased prices as demand outstrips supply.
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