#BitcoinKeyZone The current price of Bitcoin is 100 thousand dollars.
- In 2016, after the halving, a 30% correction occurred 35 weeks later, and the correction took three weeks before reaching the peak.
- In 2020, after the halving, a 30% correction occurred 35 weeks later,
the correction took two weeks before reaching the peak,
- Now in 2024, the halving
will be on December 23, and it will be 35 weeks,
- Therefore, if it repeats the same behavior, we might witness a similar correction this month to what happened before with Bitcoin, but some altcoins may decouple at this stage or the impact of the correction on them may be weak.
So traders should secure their trades, and investors should maintain their positions while taking some profits to increase their holdings in case the same behavior repeats for Bitcoin in every halving.
And Allah knows best.
- Note that the attached chart is logarithmic and does not show the correction mentioned after the halving in
2020 and 2016, but you can refer to the regular chart and verify this mentioned above.
And Allah knows best.
$BTC