The flagship cryptocurrency, Bitcoin, dropped below the $63,000 mark in the last 24 hours and is currently on a price correction, having recently hit a new all-time high (ATH) of $73,750. This price dip is believed to be due to several factors, including the Bitcoin Halving, which is fast approaching. Bitcoin Price Is In The Second Phase Of The Halving Trend Crypto trader and analyst Rekt Capital recently provided insights into the four phases of Bitcoin Halving, which provides a plausible explanation for Bitcoin’s recent decline. He suggested that Bitcoin was entering into the ‘Final Pre-Halving Retrace,’ having just concluded with the ‘Pre-Halving Rally.’ Related Reading: Solana Surpasses Ethereum In Major Metric Amid Surge Above $200 This ‘Final Pre-Halving Retrace’ is said to occur 28 to 14 days before the Halving event. However, it looks to have come earlier this time around (just like the Pre-Halving Rally), with the Halving still about 30 days away. Rekt Capital alluded to the Pre-Halving retrace in 2016 and 2020 when Bitcoin pulled back by 38% and 20%, respectively. Bitcoin has already pulled back over 11% in the past week. Interestingly, t ..
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