Cryptocurrency analyst Michael van de Poppe has predicted a market upswing for Bitcoin following the conclusion of the halving event. He noted that Bitcoin dominance is decreasing, signaling the start of a market rotation.
#Bitcoin halving has finished and the markets are going up again.
Bitcoin dominance goes back down, which means that the rotation has slowly started. pic.twitter.com/2u4BmfRzdk
— Michaël van de Poppe (@CryptoMichNL) April 22, 2024
This development comes amidst speculation about the future of the cryptocurrency market. The outcome of the Bitcoin halving and the subsequent market rotation could have significant implications for the entire cryptocurrency market.
Bitcoin’s performance has been a topic of debate, with analysts predicting both fresh highs and potential declines. The recent halving is also expected to impact Bitcoin miners, as production costs are set to increase.
As of now, Bitcoin is trading at $67,063, reflecting a slight increase in the last 24 hours and a notable rise over the past seven days. Ethereum is also experiencing positive price action.
Source: BENZINGA Crypto
