Bit-comment: Bitcoin grew amid speculation of upcoming halving

In the last 24 hours, Bitcoin adds another 1.5% to $7,900. The growth takes place against the background of a slight increase in trading volumes. The Crypto Fear & Greed Index remains in “fear” area, having lost one point during the day, reflecting the indecision of market participants now. Halving is now the main trigger for the crypto market, and most participants expect a positive impact, but in this case, the situation can be seen from the other side.

There are concerns that the upcoming halving has already priced in, and the sharp price growth after the market collapse in mid-March reflects the maximum expectations of investors. Should the bitcoin continue to show insignificant price dynamics up to halving, there is a possibility of a sharp price crash shortly before or immediately after the event. Thus, we can once again see that bitcoin is an asset that is impatient with sideways price trends.

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The FxPro Analyst Team