“Bitcoin Before the Halving: What Will the Future Bring for the Cryptocurrency?”
Bitcoin in “Danger Zone” Ahead of Halving
Bitcoin, the most popular cryptocurrency in the world, is approaching its next halving, which is a moment when the rewards for cryptocurrency miners are reduced. An analysis conducted by Rekt Capital sheds light on potential scenarios that may occur in the market shortly before and after this event.
History of Price Drops Before Halving
According to Rekt Capital’s data, in the 14-28 days leading up to previous Bitcoin halvings, the price of this cryptocurrency has dropped. Specifically, before the 2016 halving, it dropped by 40%, and before the 2020 halving, it dropped by 20%. This phenomenon may raise concerns among investors about possible decreases in the value of Bitcoin in the coming weeks.
Forecast Before and After Halving
Rekt Capital’s analysis highlights areas where Bitcoin prices are represented in red before halving and in green after it. This indicates possible changes in the cryptocurrency’s price dynamics in the near future.
Predictions versus Actual Events
Examining the crypto market, one can observe that Bitcoin surprised analysts at the end of March by surpassing the previous historical peak associated with the cycle before halving and reaching a price of $68,990. The next halving is expected in about 33 days, on April 20th.
Future Forecasts
Richard Teng, CEO of Binance, predicts that Bitcoin could surpass the $80,000 mark by the end of the year due to limited supply and growing investor interest. On the other hand, Kris Marszalek, CEO of Crypto.com, believes that the current downward trend in Bitcoin’s price may be a favorable move that reduces the risk of speculative investments.
Marszalek forecasts a stable price growth for Bitcoin with fewer sudden fluctuations, making it an attractive asset for long-term investors seeking secure capital investments.
