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Bitcoin approaches critical $63K support: What happens next?
Is Bitcoin all set to finally revisit price levels from four years prior? The cryptocurrency is now hovering just above a crucial support level of around $63,000. For the first time in history, Bitcoin nears the point where it may break its long-standing pattern of never revisiting prices from four years prior.
The crypto market has been grappling with uncertainty and unpredictability lately. Bitcoin’s current situation could have far-reaching implications for investors who have anchored their conviction in the cryptocurrency’s historical consistency. A breach could introduce doubt, shake long-term holder conviction, and prompt a reassessment of cycle-based strategies.
Bitcoin nears pivotal $63K support level
Bitcoin is currently teetering at a critical juncture. Its refusal to revisit prices from four years prior has become an essential component of the cryptocurrency’s cyclical nature and long-term appeal. The present situation could potentially mark a historical first for Bitcoin, breaking its structural rhythm and psychological anchor for many investors.
Bitcoin’s cyclical nature
Source: Alphractal
Source: https://ambcrypto.com/bitcoin-approaches-critical-63k-support-what-happens-next/
