Bitcoin In The Danger Zone: Is A 20% Price Crash Imminent?
Portfolio Pulse from Murtuza Merchant
Cryptocurrency analyst Rekt Capital warns of a potential 20% price crash for Bitcoin (BTC) due to the upcoming halving event, citing historical patterns of volatility and retracement in the 'danger zone.' Despite the potential downturn, Rekt Capital sees this as a buying opportunity, suggesting that extreme fear often precedes financial opportunity. The Bitcoin halving is expected to significantly impact the market, with the Future of Digital Assets event on Nov. 19 providing further insights.
April 19, 2024 | 6:42 pm
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Bitcoin (BTC) is in a 'danger zone' with a potential 20% price crash imminent ahead of the halving event, according to analyst Rekt Capital. However, this could also present a buying opportunity.
The analysis by Rekt Capital suggests that Bitcoin is currently in a period of high volatility, historically seen before halving events, which could lead to a significant price drop. However, such retracements have also historically presented buying opportunities, indicating a potential short-term negative impact on Bitcoin's price but with a silver lining for investors looking for entry points.
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