Crypto News – An analyst believes that Bitcoin may be only a few days away from entering a pre-halving “danger zone,” which is a period of time where the price of the cryptocurrency has historically fallen before it is halved.
Pre-Halving Danger Zone Warning: Bitcoin Could Fall Further Before Halving
According to Rekt Capital, in the 14 to 28 days preceding its halving, the price of BTC has historically dropped. Bitcoin saw a 40% decline during the 2016 halving and a 20% decline in 2020.
In 2 days, Bitcoin will officially enter the ‘Danger Zone’ […] where historical pre-halving retraces have begun,
crypto analyst Rekt Capital
Bitcoin Price Starts to Decline
As anticipated, Bitcoin began to increase in mid-February and shocked analysts by surpassing the peak of the previous cycle in March, which was the first time it had done so prior to a halving event.
CoinMarketCap predicts that the next halving will occur on April 20—less than 33 days from now. However, according to Cointelegraph Markets Pro, the price of Bitcoin has already dropped by 8.5% from its all-time high of $73,835 on March 14 to its current price of $67,537.
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