Bitcoin's Price Dips Before Historic Halving Event

Bitcoin has officially entered a dangerous period, falling in the 14-28 days before the historic halving. During the 2016 halving, Bitcoin fell by 40% and in 2020 it fell by 20%.

A “pre-halving rally” is predicted to occur approximately 60 days before the halving, followed by a “pre-halving retracement” approximately one to three weeks before the halving.

This prediction proved to be correct, with Bitcoin starting to soar in mid-February and surpassing the previous cycle’s all-time high of $68,990 in March, further surprising analysts - as Bitcoin continued to decline. Did it for the first time before the semi-event.

The next halving will occur in 33 days, on April 20th. However, Bitcoin’s price has fallen to $60,000 from its all-time high of $73,835 on March 14, according to Cointelegraph Markets Pro.

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