Bitcoin: Is a Correction Ahead? Analysis of Growth Prospects.
Bitcoin has reached a record price level, but is a correction ahead?
On March 13, 2022, Bitcoin once again surprised investors by surpassing the $73,700 mark. However, could this exciting upward trend come to a halt soon?
Possible correction before the halving in April
There are signals indicating an overheated cryptocurrency market, which could lead to a significant drop in the price of Bitcoin. It is worth considering historical data from previous halvings, which can serve as a prognosis for future events.
Analysis of previous halvings
Before the halving in 2020, a 20% correction was recorded, while before the halving in 2016, the rate of decline was as high as 38%. Analyst Rekt Capital forecasts that the current correction could last up to 77 days, but its scale may be smaller than in previous cycles.
A different path of growth
It is worth noting that the current increase in the price of Bitcoin differs from previous cycles, as this time the price set a new record even before the upcoming halving. Ecoinometrics suggests, based on price history, that Bitcoin could reach anywhere from $100,000 to $300,000 per coin.
Price forecasts after the halving
Bernstein, an asset management firm, predicts that the price of Bitcoin could rise to around $150,000 after the halving in mid-2025. They recommend investing in Bitcoin miners, noting that the current period may be the last opportunity before the upcoming halving.
Long-term price targets
Cathie Wood from Ark Invest suggests that the long-term price target for Bitcoin could exceed $1 million, which presents an extremely optimistic vision for cryptocurrency holders.
It is important to emphasize that this article does not constitute investment advice or recommendation. Every investment carries certain risks, so readers should conduct thorough research independently before making any investment decisions.
