🚨🚨If Bitcoin (BTC) fails to return above $70,000 by October 2024, several factors can be considered to understand the impact of this event:

Impact on BTC price

1. BTC price decline

- If BTC fails to return to $70,000, the price may decline further, reaching $55,000 or lower. This could create a major correction in the market and affect short-term and long-term investors.

2. Investor anxiety

- Failure to reach the target may reduce investor confidence. Investors may sell to avoid further losses, creating panic in the market. In particular, new investors or those without experience may be greatly affected.

3. Impact on the Cryptocurrency Market

- ​​A major drop in BTC prices often leads to a drop in the prices of other cryptocurrencies such as Ethereum (ETH), Ripple (XRP), and many other altcoins. This can cause a sharp decline in the global market capitalization of cryptocurrencies.

Long-term factors.

Market recovery

- Despite the temporary drop, many experts believe that BTC and the cryptocurrency market in general are likely to recover in the long term. This recovery can be supported by the development of blockchain technology, the widespread adoption of cryptocurrencies in everyday transactions, and the growth of decentralized finance (DeFi) applications.

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