Bitcoin's Final Plunge Before Halving Event and Price Predictions for Top Cryptocurrencies
Bitcoin is currently in its relief run phase before the upcoming halving event, but historical patterns suggest that a significant price plunge may occur before the bulls take control. In 2019, Bitcoin experienced a relief rally followed by a 62% price drop around the same temporal distance from the halving event. A 27% plunge from the current price level to around $19,000 is predicted to fulfill the conditions for this cyclical higher low. Factors such as Bitcoin's fair value, potential spot Bitcoin ETF launches, and regulatory concerns around Binance are influencing the overall sentiment in the crypto sector.