Bitcoin Nears “Danger Zone” Ahead of Halving: Analyst Warns of Potential Downturn

Bitcoin recent decline signals a potential downturn, as a trader warns of the looming “danger zone” before the halving event.

Amidst a recent 4% drop in Bitcoin price to $64,000, concerns arise as a crypto trader flags the onset of the “danger zone” before the halving event. Rekt Capital suggests that Bitcoin has entered a critical phase historically associated with price retracements prior to halving.

With the event around 26 days away, Bitcoin faces uncertainty, with potential for further decline within this crucial period. Drawing comparisons to past cycles, the analysis underscores the need for Bitcoin to maintain current levels to avert previous downturn patterns.

Looking ahead, predictions point to a potential bull market peak between late November 2024 and late January 2025, aligning with historical trends.

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