It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles” are any indication, a major price correction could be right around the corner. The Bitcoin halving cuts the block reward for miners in half. Related Reading: US Mega Bank JPMorgan Predicts Harsh Drop In This Bitcoin Metric This happens roughly every 4 years to slow the creation of new BTC and control inflation. Based on historical data from the previous two Bitcoin halvings, the price of BTC could drop by up to 38% before the next halving. In a chart shared on X (formerly Twitter), Rekt Cap ..
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