Crypto market rally resumes as excitement for the upcoming Bitcoin halving increased BTC price to surpass $72,715, with some headwinds expected to resist BTC price rally towards $80K. Experts predict a downfall, possibly a crash, if BTC price chart pattern repeats a historical pattern.
A crash in Bitcoin price could trigger a market-wide drop as seen during previous Bitcoin halving events and recent spot Bitcoin ETF approval.
Bitcoin Price Correction Looms Amid Halving
Crypto investors keenly await Bitcoin halving for further upside momentum in the crypto market, but analysts warn a correction could happen if BTC price form a similar pattern as seen earlier.
Analyst Benjamin Cowen said if BTC repeats a similar pattern seen during spot Bitcoin ETF as it goes into Bitcoin halving, then a BTC price fall can be expected. He expects Bitcoin to make a new ATH after halving and then fall below the $60,000 level.
Source: Benjamin Cowen
“Usually these patterns do not repeat exactly, but just
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