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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 346959, member: 104606"] [B][SIZE=5]April Became the Worst Month for BTC/USD Since November 2022[/SIZE][/B] [img]https://i.imgur.com/vEqdpWy.jpeg[/img] In November 2022, the BTC/USD price dropped by 16.20%. The main driver of this decline was the crash of the FTX exchange. In April 2024, the price of Bitcoin decreased by 14.77%. Paradoxically, the main news event could be considered the halving, which occurs every 4 years and is considered a bullish factor as it signifies a reduction in supply from miners. So why did the BTC/USD price decrease by the end of April? Presumably, expectations from the halving could have been excessively optimistic, and after the event occurred, the price declined as emotions subsided – an example of "buy the rumour, sell the fact" situation. It's worth noting that in the Bitcoin Cash network (a fork of the Bitcoin blockchain from August 2017), the halving took place on April 4, and the BCH/USD price decreased after that day – which could have been a concerning signal. [img]https://i.imgur.com/cHDeiSa.jpeg[/img] [B][URL="https://fxopen.com/blog/en/oa-april-became-the-worst-month-for-btc-usd-since-november-2022/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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