The bitcoin halving which is few weeks from now, the king crypto is quite reacting to the situation in a optimistic way with the sudden increase in market price. This is first of it’s kind that has happened before bitcoin halving, the exercise which is scheduled to happen next month april a crypto analyst is weighing in on the current bitcoin performance as been more bullish part the previous bitcoin halving -
“When we look at historical performances in the 60 days before the halving, we tend to see pre-halving rallies. And this is a pre-halving rally as well. But the point is here that this is overperforming, this is outperforming. So this pre-halving rally is going strong and it will still go strong for a few more weeks. But before the halving is probably where we’re going to start see some topping out.“
He spotted that there will be a correction and speaking on how long this is quite going to last - After what was an explosive pre-halving rally, I wouldn’t be surprised to see a pre-halving retrace followed by some sort of sideways movement for a few months. Because this vertical price action it’s wonderful, it’s exciting, but it can’t continue forever. So this pre-halving retrace is going to likely occur, whether it’s just 10%, 15%, 20%, maybe 25% if we’re lucky. But a retrace does need to occur, for that’s always going to be a healthy thing in a cycle.”
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