Bitcoin is approaching a critical point in its market cycle as the halving event draws near, according to a well-known crypto analyst. In a YouTube video, the analyst known as Rekt Capital warns that Bitcoin is entering a “danger zone” that has historically been followed by significant price corrections. The danger zone typically occurs around two to four weeks before the halving, which is when miners’ BTC rewards are halved. Rekt Capital explains that although Bitcoin is currently in a pre-halving rally phase, it is still susceptible to dips and periods of reaccumulation. The halving event is expected to take place in mid-April. At the time of writing, Bitcoin is trading at $69,572.
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Bitcoin Coming Up on Potential ‘Danger Zone’ As BTC Halving Approaches, According to Crypto Analyst
