Bitcoin price may fall before the halving in April
Rekt Capital, a prominent figure in the cryptocurrency space, has provided insights into Bitcoin's price trajectory leading up to the upcoming halving event on BTC .
According to his analysis, the coming correction is about to be “the last bitcoin correction before the halving event".
He emphasized that based on historical trends, this withdrawal is expected to be realized around the end of March or April 2024.
The cryptocurrency community is looking forward to the halving event, seeing it as a bullish catalyst that has historically boosted the price of BTC significantly. These events, which occur approximately every four years, are intended to maintain the scarcity and value of Bitcoin by reducing the rate at which new BTC units are mined, thereby controlling inflation.
READ MORE:
Is Bitcoin a good investment at this price?The upcoming halving event will see miners' rewards for mined blocks decrease from 6.25 BTC to 3.125 BTC once the number of blocks reaches 840,000, which is expected to happen around April 2024.
Despite the potential for a pullback ahead of the halving, many crypto enthusiasts remain bullish on Bitcoin's near-term prospects. Ali Martinez, another respected voice in the crypto space, recently shared an optimistic outlook for BTC, suggesting it could overcome skepticism surrounding the digital asset.
Martinez highlighted stable support levels that could potentially see BTC overcome resistance, with a projected price target of $57,000. However, he also foresees a correction before BTC reaches this target.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Grayscale’s Crypto Holdings Plummet Below $20B: What’s Driving the Exodus?
![](https://img.bitgetimg.com/multiLang/image/social/4ae8bd71282c419f8c3d69c1710595671725769804901.png)
Ripple Eyes Japan for RLUSD Launch Amid US Regulatory Challenges
![](https://img.bitgetimg.com/multiLang/image/social/d5c8a3e551efabba5c883e9bb71fc5751725769804146.jpg)
Why These 5 Cryptocurrencies Could See Incredible Growth This Month.
![](https://img.bitgetimg.com/multiLang/image/social/e82deda6ff5c4b6845149e74d8df1ab81725769803727.jpg)
Bitcoin Dominance Nears Peak Amid Bearish Divergence
![](https://img.bitgetimg.com/multiLang/image/social/225be8c12831b6325c40d486382b137e1725755405996.jpg)