1 BTC = $66,273 USD - Is the alligator getting sleepy?

_{(Chart by TradingView)}

After a slow start basking above $40K until around mid-February, the Bitcoin (BTC) alligator woke up from its winter sleep and got carried away upstream by a strong bullish wave.

Even though the price is currently elevated, a bearish crossover of the Moving Average Convergence Divergence (MACD) indicator, where the MACD line falls below the signal line, suggests a potential downward trend in the future.

The alligator might be closing its mouth. Is it getting sleepy?

Get ready, Bitcoin alligator fans! We're leaving now!

About Bitcoin (BTC)

Bitcoin (BTC) is the world's first and most well-known cryptocurrency. Launched in 2009 by an anonymous creator using the pseudonym Satoshi Nakamoto, it operates on a decentralized system called blockchain. Unlike traditional currencies controlled by governments or banks, Bitcoin relies on a network of computers to verify transactions and secure the network.

Key features of Bitcoin:

• Decentralized: No single entity controls Bitcoin. Transactions are secured and recorded on a public ledger called the blockchain, accessible to anyone on the network.
• Limited Supply: There will only ever be 21 million Bitcoins in existence. This limit is built into the Bitcoin software and new coins are gradually released through a process called mining.
• Secure: Cryptography protects Bitcoin transactions, making them tamper-proof and secure.

Bitcoin Halving:

This is a programmed event that occurs roughly every four years, where the reward for mining new Bitcoins is cut in half. This reduces the rate at which new Bitcoins enter circulation. The idea behind halving is to control inflation and potentially increase the value of existing Bitcoins if demand stays the same or rises. The most recent halving occurred in April 2024, reducing the mining reward from 6.25 BTC to 3.125 BTC per block.

Things to Consider:

• Bitcoin is a volatile asset, meaning its price can fluctuate significantly.
• Transactions can be slow and expensive compared to traditional payment methods.
• Bitcoin's environmental impact due to the energy consumption of mining has been a growing concern.

Bitcoin is a complex and innovative technology. While it has the potential to revolutionize how we handle money, it's important to understand its risks and benefits before getting involved.

Assisted by https://gemini.google.com/.

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