Quote from: justdimin on Today at 11:20:23 AM

Quote from: tbterryboy on April 08, 2024, 07:24:04 AM

I think we shouldn't be expecting a correction after the halving event but before it. We are still about two weeks away from the halving event, and Bitcoin's price has already dropped below $70k which was the price from the last few days. I was thinking that if it went above $71k, we would see another new all-time high before the halving event, but if it dropped below, we might see it correcting itself in the next couple of weeks.

So now when it has dropped below that range, I'm expecting a dip or a correction from this point, and the market will start going up again when the halving event is near and once it is done, we will probably see the prices rising once again, marking the beginning of the second part of the most anticipated bull run.

I do agree that dip has been expected for a while now, but we are peaking at 70k again. The difference between previous halvings and this one, which even see it break over all time high as well, could be the ETF situation where thousands of bitcoin is bought everyday by those companies.

I do agree that it is not going to be that simple, and we should probably consider the situation to be sensitive as well. Think about it, it should have been much lower if we expected a historical similarity between all halvings, but looking at it now, it is above the previous all time high at this moment. This is why I think it is quite important to realize that it is not going to be too simple, and we need to make it work one way or another.

It wouldn't be appropriate to consider the historic data because even I used to do that till recently and if we go by that the new ATH shouldn't have been achieved anytime sooner than a year after halving but we have seen new dynamics this year and achieved ATH hence I stopped referring to the past and historic events. I know it would be little difficult to have a say this time since the market has lot of new things for us.