The Impact of Web 3.0 on Business and Everyday Life

Bitcoin (BTC) has been stuck in a $5,000 price range for nearly 150 days, showcasing its persistent behavior.

According to James Van Straten, a research and data analyst at CryptoSlate, this is a characteristic trend for BTC.

As we look towards the future of the internet, also known as Web 3.0, there are key differences between it and its predecessors, Web 1.0 and Web 2.0. This new era of the internet has the potential to revolutionize the way we make money and conduct business, with examples such as the metaverse and its impact on various industries. It is important to understand the distinctions between Web 1.0, Web 2.0, and Web 3.0, as well as the potential for further advancements with Web 4.0.

The Reign of Ranges: Understanding Bitcoin’s Price Patterns in Web 3.0

Despite reaching record highs in 2024 and dipping to lows of $38,500, Bitcoin has failed to establish a clear price trend. Instead, the largest cryptocurrency has been confined to a trading range of just $5,000.

For almost 150 days, BTC/USD has been strictly adhering to this range, as evidenced by daily close levels.

Upon closer examination, a pattern emerges in which Bitcoin tends to trade within $5,000 increments. This may be frustrating for both bullish and bearish traders, but it is not uncommon, as noted by Van Straten.

By analyzing the time spent in various $10,000 price “buckets,” it becomes evident that Bitcoin typically remains within these ranges for anywhere between 100 and 250 days.

So what does this mean for the future of business in Web 3.0? Some may argue that it will have a significant impact, while others may see it as just another example of the ongoing evolution of the internet. Regardless, it’s clear that the reign of ranges in Bitcoin’s price patterns is a key characteristic of Web 3.0.

Traders Shift Focus to Post-Halving BTC Price Action

Frustration with the lack of sustained upside following the launch of spot Bitcoin exchange-traded funds (ETFs) has led market analysts to lower their expectations for BTC’s price. Many now believe that it will take several months after the upcoming block subsidy halving event for Bitcoin to regain bullish momentum.

In the meantime, the market is expected to remain stagnant at familiar levels.

“My theory on Bitcoin remains unchanged,” wrote Michaël van de Poppe, founder and CEO of MN Trading, in one of his recent posts on X.

While the halving event is highly anticipated for its impact on BTC supply dynamics, the ETFs are currently removing coins from the market at a rate that is ten times faster than the new supply per day.