Although the market experienced a minor dip in the last 24 hours, analysts have stated that the current crypto metrics signal a very good moment for investors to start accumulating crypto.
The crypto market has yielded interesting trends over the last few days. Since the halving event, Bitcoin traded above $66,000 until April 24. On that day, it started declining until it reached $64,000. Experts attribute the dip to macroeconomic conditions worldwide, which are under stress. On the other hand, analysts have also confirmed how the present crypto metrics make it the best time to buy BTC.
Most of these crypto analysts took to social media to state their predictions. While one mentioned how the market has given a cue to buy BTC, another said crypto has gone through a healthy market reset. If one observes the movements of the last few weeks, the correction has indeed made token prices attractive.
Apart from crypto analysts, fund managers also affirmed the same. Charles Edwards of Capriole Investments said, “Gold’s inflation rate went up +50% in 2023 to 3% p.a. That makes Bitcoin’s inflation rate less than one-quarter of Gold’s. Bitcoin is now the hardest store of value.”
Bitcoin’s prices over the next few days are important as it could set the tone for its trajectory next week. Meanwhile, altcoins haven’t seen much volatility recently.
BTC/USD 1D price chart
Bitcoin is currently trading at around $64,300 on April 25, 2024, with BTC/USD trading lower by a margin of 3.81% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.27 trillion in the last 24 hours.
BTC/USD is trading below its 20-day EMA (66,547.89), as BTC’s 24-hour volume was at around $30 billion. The global crypto market cap decreased by around 2.22%, trading above $2.41 trillion. BTC’s year-to-date returns are at 53.29%
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