Bitcoin’s value has recently fallen by 18% from its peak of $73,737 on March 14, descending to $60,000 on April 17. This drop is seen as part of a typical pre-halving correction, and with the halving imminent, a lengthy re-accumulation phase in the bull cycle may be next, according to analysts.<\/p>\n\n\n\n
Market expert \u2018Rekt Capital\u2019 identified three distinct market phases around the halving, suggesting that after the pullback, a sideways movement or re-accumulation could ensue. Historically, such phases have extended several months post-halving, as seen in 2016 and 2020, when Bitcoin traded sideways for about five months after the event.<\/p>\n\n\n\n
This phase often tests investors’ patience, leading to frustration and disengagement due to the lack of immediate returns on Bitcoin investments following the halving.<\/p>\n\n\n\n
On the sentiment front, analytics firm Santiment reported a decline in positive sentiment among traders on April 18, which often presages an opposite market movement than what the majority expects.<\/p>\n\n\n\n
In broader crypto market activity, Bitcoin managed a slight recovery to $62,000 in Asian markets after its dip, while Ethereum also regained slightly, climbing above $3,000. Other cryptocurrencies, including Dogecoin, Toncoin, and Polygon, experienced more significant losses.<\/p>","protected":false},"excerpt":{"rendered":"
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