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Bitcoin price holds support above 62K after wild weekend, experts see gains heading into the halving

Kitco Media
By Ernest Hoffman
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Updated
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Bitcoin price holds support above 62K after wild weekend, experts see gains heading into the halving teaser image

(Kitco News) – After days of extreme volatility that included double-digit declines, Bitcoin (BTC) has kicked off the final trading days before the halving with positive momentum. 

Data provided by TradingView shows that after trading as low as $64,800 shortly after midnight, Bitcoin bulls initiated a move higher in the early hours on Monday, pushing King Crypto just short of $66,850 shortly before 6 am EDT.  

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At the time of writing, Bitcoin trades at $66,281, an increase of 0.73% on the 24-hour chart. 

With the halving expected to occur between April 19 and 20, BTC’s resilience suggested to many experts that the top cryptocurrency by market cap should resume its uptrend into the quadrennial reduction in new emissions. 

Crypto analyst Quantguy said in an X post that despite the weekend’s volatility, BTC has held key support and should move higher this week.  

Analyst Rekt Capital also believes that the top cryptocurrency successfully weathered the storm, and sees further gains heading into the halving

“Anatomy of a shakeout...” said Bitcoin Archive, sharing a chart that poked fun at the doomsayers who were predicting the death of the crypto bull market:

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They also followed up with a post asking hodlers to have some perspective.

Michaël van de Poppe of MN Trading posted that Bitcoin’s performance amidst such a massive and broad-based decline across crypto bodes well for this week.

“#Bitcoin consolidating at the range low and hit that level,” he wrote. “Still within the range and capitulation took place across the board. Expecting to see higher level tests over the upcoming week."

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Kitco Media

Ernest Hoffman

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in Journalism from Concordia University. You can reach Ernest at 1-514-670-1339.

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