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Why April is The Worst Month Since 2022 Bear Market?
Bitcoin may conclude April with a 12% decline, potentially its worst month since the 2022 downturn. Here’s a breakdown of the current situation:
Joe G
April 30, 2024 • Estimated Reading Time: 5 minutes
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₿itcoin reached $61,530. -2.69%
♢Ethereum reached $3,024. -5.63%
What we will talk about today...
🤔 Why April is The Worst Month Since 2022 Bear Market?
🚀 Bitcoin’s Path to $300K: Entering the Bull Cycle’s Peak.
💡 Moving to El Salvador with Crypto.
Bitcoin may conclude April with a 12% decline, potentially its worst month since the 2022 downturn. Here’s a breakdown of the current situation:
Uncertain Close: Bitcoin’s price at $61,522 faces resistance, with potential to end April on a low note amidst global economic and geopolitical tensions.
Record Low Month?: Analysts watch if Bitcoin can avoid its worst month of 2024 as it approaches the April close, with $58,000 as a pivotal support level.
Economic Events: The upcoming FOMC meeting and interest rate decisions could sway Bitcoin’s market sentiment amid global financial volatility.
ETF Launch in Hong Kong: The anticipated Bitcoin ETFs in Hong Kong could attract significant investment, influencing Bitcoin’s liquidity and price.
Price Supports and Investors: Bitcoin’s key support levels and the behavior of retail investors holding under 100 BTC are under scrutiny.
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Bitcoin’s Path to $300K: Entering the Bull Cycle’s Peak
Bitcoin, the top cryptocurrency, is entering a crucial bull cycle phase, with signs pointing to a significant upswing. An expert analyst predicts Bitcoin could soar to $300,000.
Current Phase: Bitcoin is at a decisive moment, as indicated by the Mayer Multiple Mean (MM), which compares its price to the 200-day average.
Historical Patterns: Past trends show Bitcoin entering its most dynamic growth phase, marked by green arrows in the analysis.
Price Projection: Using Fibonacci levels, the analyst suggests Bitcoin could reach an 8.0 level, aligning with a $300,000 valuation.
Investor Outlook: This phase is watched closely, with the analysis hinting at a substantial rise based on past cycles and technical data.
El Salvador is a tropical haven for crypto enthusiasts, having adopted Bitcoin as legal tender. Here’s a guide to relocating to this beachside paradise:
Easy Relocation: El Salvador’s welcoming policies make moving simple. Convert your funds to Bitcoin, have $12 in a Lightning Network wallet for a tourist visa, and you’re set to start your new life.
Residency Steps: Start with a six-month tourist visa. Then, apply for temporary residency to enjoy El Salvador while you settle in. Extend your visa for two years, aim for permanent residency after three years, and consider citizenship after five years.
Overcoming Obstacles: Despite challenges from the IMF seeking changes to Bitcoin laws, El Salvador continues to invest in cryptocurrency, promoting financial freedom and innovation.
El Salvador invites those who dream of a crypto-integrated lifestyle to its shores, offering a pioneering spirit amidst financial evolution.
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Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎