Seasoned crypto investors expect the Bitcoin price to fall below $20,000 after the halving.
The final haircut has not yet taken place
The entire cryptocurrency world is currently looking forward to one of the biggest events in 2024, namely the halving of rewards to miners for finding Bitcoins. The so-called halving should take place in early to mid-April, as indicated by various countdown timers, for example from NiceHash.
Many believe that halving will be the driver of the stunning growth of “digital gold” due to a reduction in the supply of coins entering the exchanges. And, although experienced crypto enthusiasts generally agree with the prophecy about BTC’s inevitable conquest of the $100,000 mark, in their opinion, the Bitcoin pump will be preceded by an additional and final departure of the latter’s value into the $20,000-30,000 zone, with a likely short-term breakout of the $20,000 level and subsequent rebound upward.
To support this, they show a chart showing the net unrealized gains and losses of long-term investors.
