Quote from: aryana42 on Today at 03:37:56 PM

Quote from: Sayeds56 on Today at 01:43:48 PM

Quote from: yusrime on January 21, 2023, 12:10:55 PM

Are we now on crypto bull run or this yet to be go down futher more down than 15500?

Based on my analysis, Bitcoin has not yet entered into bullish zone, but rather is currently trading sideways, within a range of $3000. I hope, there may be a break-out from current level in the near future, which may potentially push Bitcoin price above $33,000 and if it makes few consecutive green candles above this level, then we could confirm with confidence that it is the beginning of bullish trend. DYOR

If according to your analysis and predictions, we are very close to the bull season because $33k is a price that is not too difficult to achieve. We hit 31k before the correction and were very close to $33k. What about the halving? We are still over a year away from that date, and bitcoin will only enter a bull cycle after the halving takes place.

There is no doubt that Bitcoin halving is an important event in crypto space and usually trading activity increase even before this event takes place and consequently prices of Bitcoin rises, however it is not the only factor that influences price. There are other factors those can influence its price, such as market demand, adoption and regulatory development can also have significant impact on Bitcoin price.