Crypto Analyst Issues Bitcoin Warning, Says BTC Could Crash up to 40% Near 2024 Halving - The Daily Hodl

The Daily Hodl
The Daily Hodl

21 Nov 2023 8:55 PM

A widely followed crypto trader is warning that Bitcoin (BTC) could witness a dramatic correction around the next halving event in 2024....

  • Crypto trader Rekt Capital warns that Bitcoin could experience a significant correction around the next halving event in 2024.
  • He suggests that Bitcoin could follow a similar price pattern as in 2016, with a potential decline of 40% after a pre-halving rally.
  • The next halving event is expected in April 2024, where miners' rewards are halved.
  • Rekt Capital mentions that a 40% decline from Bitcoin's current value would be around $22,500, but the price could be higher by April 2024.
  • He emphasizes the importance of observing the pre-halving retrace period and the potential for a retest of previous price ranges.

The sentiment of the article is neutral. It presents the analysis and warning from the crypto trader without expressing a positive or negative bias.

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