This Chart Pattern Suggests Bitcoin Will Collapse in the Coming Months…
![](https://cryptonewslives.com/wp-content/uploads/2024/01/unnamed-6-780x470.jpg)
TL;DR
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Within the lead as much as each the 2016 and 2020 Bitcoin halvings, BTC’s worth noticed a 40-50% drop in worth from its then current highs.
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Now a bunch of crypto-market-big-brains are predicting that we’re about to see one thing comparable occur within the lead as much as this 12 months’s halving (April 20), with a ~30% drop from the current excessive of ~$48k, to ~$34k.
Full Story
Alright, time for our bi-weekly(ish) verify in with Bitcoin.
BTC bounced off its $38.5k lows of final week, and shot again as much as ~$42k over the previous 4 days or so.
(That’s a cool $70B price of complete market worth, regained in a weekend. Not dangerous!)
That’s the excellent news…
Now, let’s get a bit of doomy n’ gloomy, by diving into some finance-bro-astrology (aka the technical evaluation of chart patterns).
ICYMI: within the lead as much as each the 2016 and 2020 Bitcoin halvings, BTC’s worth noticed a 40-50% drop in worth from its then current highs (see picture ☝️).
And now a bunch of crypto-market-big-brains are predicting that we’re about to see one thing comparable occur within the lead as much as this 12 months’s halving (April 20), with a ~30% drop from the current excessive of ~$48k, to ~$34k.
Is that this a lock?
No. In no way.
Lots has modified since 2016/2020, for Bitcoin and the crypto market as an entire. So simply because it has occurred twice up to now, doesn’t assure third time shall be a appeal.
That stated, lots of people base their shopping for/promoting selections round these patterns — so even when the method does really feel a bit of foolish/made up — they’ll nonetheless predict/transfer markets.
Now we play the ready sport…