CODE

Bitcoin

Momentum

April

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<p>Bitcoin has been on a remarkable tear in 2024, with its price surging past $72,000 as of mid-March. This staggering rally has reignited discussions around whether the cryptocurrency is in the midst of a major bull market cycle that could see even loftier valuations.</p>
<p>Much of Bitcoin's momentum can be attributed to increased institutional adoption and regulatory clarity in major economies. Several public companies, billionaire investors, and even some nation-states have doubled down on Bitcoin investments and initiatives this year. Its perceived status as a hedge against stubbornly high inflation and safe-haven asset amid economic turbulence is also drawing in more buyers.</p>
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<p>From a technical perspective, Bitcoin's ascent shows no signs of abating. Its price has smashed through multiple resistance levels, including the psychologically important $60,000 mark. Momentum indicators like the relative strength index (RSI) are trending higher in bullish territory. Some analysts are setting their sights on $100,000 as the next major target ahead of the highly anticipated halving event in April 2024.</p>
<p>Skeptics, however, remain unconvinced that this is anything more than an unsustainable speculative mania. Bitcoin's history is littered with blistering rallies that were followed by even more precipitous crashes. Regulatory risks, the rise of central bank digital currencies (CBDCs), and the crypto industry's recurring scandals all loom as potential pitfalls.</p>
<p>Regardless of which side proves correct, Bitcoin's volatile trajectory continues to captivate the worlds of finance and technology. For believers, this decentralized digital currency represents a legitimate threat to traditional fiat and the first step towards an internet of value. Cautious portfolio management in this uncharted territory is essential.</p>
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Bitcoin Supercycle? | $BTC Hits $73,000

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