Bitcoin's Strong Rally
According to Rekt Capital, Bitcoin has a higher potential ahead of this halving and the rally is expected to continue for a few more weeks. It is stated that a peak may occur before the halving and a pullback may occur after this strong rally.
Possible Correction Scenario
The analyst speculates on how severe a correction before the halving could be. He notes that after a violent rally, a pullback and then a period of sideways movement may be seen, which would be an indicator of the health of the market. They suggest that the pullback could be between 10% and 25%.
This analysis is supported by Bitcoin's 22% increase in the last week and its current trading level of $62.1116. While a market correction is expected, Bitcoin's pre-halving activity continues to attract the attention of cryptocurrency traders.
Traders and market observers are focused on the volatility and long-term price trends that the halving event will bring. At this important milestone in the cryptocurrency market, various speculations are being made about the future of Bitcoin and possible scenarios are being evaluated.
