Bitcoin nears pre-halving ‘target zone’ toward $50K BTC price
BTC price action has yet to match one Bitcoin trader’s long-term target, but “patience is key,” he says nearly one year later.
That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre-halving BTC price target of up to $50,000.
Trader: $39,000 is pre-halving BTC price target range floor
Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week.
As Cointelegraph reported, the area immediately below also holds significance for aggregate market profitability, with $39,000 likely a breakeven point for those who bought in during the 2021 bull market.
Titan of Crypto has also flagged $39,000 as an important boundary — this time, however, as the bottom of where BTC/USD should end up prior to the April 2024 block subsidy halving event.
“The pre halving rally I told you about one year ago is about to reach its target zone between $39k-$50k,” he told X subscribers, adding that “patience is key.”
The update referenced an original post from December 2022, when Bitcoin was still preparing to recover from a trip to two-year lows of $15,600.
Then, Titan of Crypto used Fibonacci retracement levels to predict a pre-halving peak of up to $50,000 — at the time a 220% increase.
“Each cycle BTC had a rally before its halving occurs. Those rallies topped within the 61.8%-78.6% fibonacci retracement area,” part of commentary noted at the time.
Other BTC price predictions give similar targets before the halving.
Related: Bitcoin institutional inflows top $1B in 2023 amid BTC supply squeeze
Filbfilb, co-founder of trading suite DecenTrader, continues to give an area around $46,000 as “likely,” despite not discounting the probability of a BTC price dip between now and then.
What might happen after the halving, however, is a more bullish question for many, with forecasts including $130,000 or more by the end of 2025.
To the immediate downside, meanwhile, $30,900 has entered as a floor for Bitcoin’s next potential correction. A move lower to test liquidity, some argue, would be healthy, as well as a classic part of Bitcoin market uptrends.
BTC/USD currently trades at $36,500, per data from Cointelegraph Markets Pro and TradingView, having tracked sideways throughout the weekend.
Social media giant Meta has reportedly disbanded its division responsible for regulating its artificial intelligence (AI) ventures as they are developed and deployed.
According to a report, many team members of Meta’s responsible AI division have transitioned to roles within the generative AI product division at the company, with some joining the AI infrastructure team.
Meta’s generative AI team, established in February, focuses on developing products that generate language and images to mimic the equivalent human-made version. It came as companies across the tech industry poured money into machine learning development to avoid being left behind in the AI race. Meta is among the Big Tech companies playing catch-up since the AI boom took off.
The restructuring comes as Facebook’s parent company nears the end of its “year of efficiency,” as CEO Mark Zuckerberg called it during a February earnings call. So far, that has played out as a flurry of company layoffs, team mergers and redistributions.
Ensuring AI safety has become a priority of top players in the space, especially as regulators and other officials pay closer attention to the nascent technology’s potential harms. In July, Anthropic, Google, Microsoft and OpenAI formed an industry group focused on setting safety standards as AI advances.
Report: Google sues scammers over creation of fake Bard AI chatbot
According to the report, responsible AI division team members have been redistributed within the company but remain committed to supporting responsible AI development and use, emphasizing ongoing investment in this area.
The company recently introduced two AI-powered generative models. The first, Emu Video, leverages Meta’s previous Emu model and can generate video clips based on text and image inputs. The second model, Emu Edit, is focused on image manipulation, promising more precision in image editing.
Cointelegraph reached out to Meta for more information but is yet to receive a response.