Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.
We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.
So can we expect a major correction or it's going to go up again and reach $80K before halving?
Let's discuss.
Regards
SK
Currently depending on the movement of Bitcoin, I can say that Bitcoin cannot return to $30,000 to $40,000 before forming a new rally. A lot of people may have predicted that Bitcoin will dump a lot before the halving and get to between $30,000 and $40,000, but I don't want to be with them because the halving is just a few days away and may never get to this position. But I can estimate that Bitcoin will reach $100,000 by 2024.
Yes I think you are quite right, Bitcoin showed a big price increase before the Bitcoin halving so it is hard to predict at this time that Bitcoin will come back to $30,000 to $40,000 to form a new rally. But I think it would have been possible if the price of Bitcoin had been below $50k before the halving. Currently we are only a few days away from the bitcoin halving so I think the price of bitcoin will drop but I don't think it will drop that much. But it is true that the way Bitcoin price is going right now, we will see Bitcoin price in 6 digits very soon.