A man named Svenson, who knows a lot about Bitcoin, says that before an important event called "halving", Bitcoin's price could go very high. Halving is when the reward for mining new Bitcoins gets cut in half. He thinks it could reach $83,000, which would be a new record. But after halving, there might be a big drop in price because some people sell their Bitcoins. Then, the price could go up again as more people buy it. Read from source...
1. The title is misleading and sensationalized, as it implies that the halving event alone will cause Bitcoin to hit a new all-time high, without considering other factors that may influence the market.
2. The quote from the crypto analyst is taken out of context, as he only states his opinion on the demand for Bitcoin before the halving event, not its price outcome afterward. He also does not provide any evidence or reasoning to support his claim.
3. The report relies heavily on technical analysis tools, such as Fibonacci retracement and extension, which are based on arbitrary numbers and patterns that may not reflect the true underlying dynamics of Bitcoin's market. These tools can also produce inaccurate or misleading predictions, especially when used in isolation or without proper risk management.
4. The report ignores alternative scenarios, such as the possibility of a bearish reversal, a prolonged consolidation, or a slower recovery after the halving event. It also does not consider the impact of other factors that may affect Bitcoin's price, such as regulatory changes, adoption trends, network effects, security breaches, etc.
5. The report uses vague and imprecise language, such as "possibly", "could", "probably", "likely", which indicate uncertainty and speculation rather than objective analysis. It also employs emotional words, such as "explodes", "killer", "golden cross", which may appeal to the readers' emotions but do not reflect the reality of Bitcoin's market behavior.