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Cryptocurrency analyst Rekt Capital has warned of a potential significant decline in value due to the approach of the next cryptocurrency halving, which will take place in April 2024. Building on observed historical patterns During the 2016 halving period, the analyst suggested that bitcoin could experience a fall after the pre-halving rally, similar to what happened in 2016.
The analyst, who attracts the attention of more than 370,000 followers, pointed out that if bitcoin follows the trajectory of the latest halving cycle, its value could fall by 40%. This means that bitcoin, which is currently trading at $37,341, could see its price drop to around $22,500.
This prediction is based on the behavior of bitcoin’s price during previous halving events, which occur approximately every four years and halve the rewards miners receive for adding new blocks to the blockchain. . The upcoming halving is expected to decrease miner rewards again, which could impact bitcoin supply and demand dynamics.
Investors and traders follow these predictions closely because they have historically been associated with high price volatility. Rekt Capital encouraged its readers to subscribe to email alerts to stay informed with future predictions and updates on cryptocurrency market movements.
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