"Everyone must be excited for tomorrow's halving, yes, the price of BTC can make unexpected movements."
The price of the cryptocurrency king Bitcoin (BTC) which plunged to $60,165 at the opening of the Asian session this morning has caused analysts to agree that the corrections may not be over even though the halving event is only a few days away.
The streak, the traders and analysts of 'Rekt Capital' think that a phase of regrouping could happen following the price of BTC in 2016 has seen a fall of about 38% then 19% in 2020.
So here it can be seen that a regrouping phase after the BTC halving event can occur where the price will fall to a low range then move flat, but it should be noted that the regrouping phase has historically lasted for several months.
As such, the price of BTC could go down to $50,000 around October this year plus many investors feel shaky during this phase due to their impatience and frustration regarding the lack of returns on BTC investments right after the halving in the past.
The price of BTC early this morning may have been affected by the strengthening of the United States (US) dollar after Israel wasted no time in carrying out airstrikes on Iran in response to last weekend's attack.
Not only that, the President of the Federal Reserve Bank of Atlanta, Raphael Bostic, who recently also intended to maintain interest rates, also expects that this year there will be only one decrease and the decrease in loan costs will not be accepted until the end of this year.
As of this writing, the price of BTC has decreased by 15.01% at $60,165 in the last 24 hours with a market capitalization of over $1 trillion and has recorded a 9.39% decline over the last week.
