While Bernstein sees a $150,000 Bitcoin price target, other analysts warn of a potential correction.
Bitcoin (BTC) could be gearing up for a pre-halving correction, according to historical chart patterns, despite Bitcoin reaching a new all-time high of around $73,700 on March 13.
There are increasing signs of overheating, and the Bitcoin price could experience a significant drop before the halving in April. This would fall in line with the 20% pre-halving correction in 2020 and the 38% retracement before the 2016 halving, says pseudonymous analyst Rekt Capital.
The analyst anticipates the possibility of a retrace that can last up to 77 days, though the drawdown might be smaller than in previous cycles. Specifically:
Read more
Source: https://cointelegraph.com/news/bitcoin-price-correction-5-weeks-halving