Will Bitcoin enter the "halving danger period"? What do people in the industry say?

Author: Jesse Coghlan, CoinTelegraph; Compiler: Deng Tong, Golden Finance

An analyst said, Bitcoin may be just days away from entering the pre-halving "danger period" - historically, Bitcoin prices have declined before halving.

“In two days, Bitcoin will officially enter the ‘dangerous period’… the historic pre-halving correction has begun,” cryptocurrency analyst Rekt Capital said in March shared in a post on the 17th.

Rekt Capital explained that in the past, Bitcoin prices would fall in the 14 to 28 days leading up to the halving. During the 2016 halving, Bitcoin fell by 40% and in 2020 it fell by 20%.

Red highlights the pre-halving price retracement area and green highlights the post-halving price boom. Source: Rekt Capital on The “rebound” will occur approximately 60 days before the halving, followed by a “pre-halving retracement” approximately one to three weeks before the halving.

This prediction proved to be correct, as Bitcoin began to surge in mid-February and broke through the previous cycle’s all-time high of $68,990 in March. This further surprised analysts – it was the first time Bitcoin had done this before the halving event.

According to CoinMarketCap predictions, the next halving will occur within 33 days, on April 20. However, Bitcoin’s price has fallen 8.5% from an all-time high of $73,835 on March 14 to the current $67,537, according to data from Cointelegraph Markets Pro.

Crypto.com and Binance CEO are bullish on Bitcoin

According to Bloomberg, Binance CEO Executive Richard Tengtold a crowd at an event in Bangkok on March 17 that he expects Bitcoin to continue to break record, climbing to over $80,000 by the end of the year.

Teng claims that Bitcoin is “just getting started,” noting that institutional investors have made significant allocations to the cryptocurrency through new U.S. exchange-traded funds (ETFs) – The fund manages $57 billion, according to Dune Analytics.

He said he expects Bitcoin to surpass $80,000 "as supply decreases and demand continues to grow," but that it won't be a "straight line" and prices will fluctuate along the way.

Kris Marszalek, Co-Founder and CEO, Crypto.com March Bitcoin’s recent price drop is a “healthy move that removes some of the accumulated leverage,” told CNBC on the 15th.

He added that his exchange is seeing a rise in Bitcoin, which last occurred in late 2020 and early 2021, when Bitcoin rose in just over three months It has risen from less than $20,000 to over $60,000, and said the current volatility is "actually quite low compared to what it was before." We have seen this in previous cycles. ”

Marszalek Expects Bitcoin’s price to rise “steadily” and “not to experience sudden fluctuations” because it is a currency “you want to hold Ten years, not days or weeks” assets.