Bitcoin Braces for Potential Pre-Halving Plunge

Bitcoin prices have historically dropped significantly around 6 months before the halving event, which is coming up in April/May 2023.

In 2015, BTC prices fell 25% before the 2016 halving. In 2019, they fell 38% before the 2020 halving.

A similar drop now could send BTC back down to $20,000. Analysts have predicted a November dump based on previous cycles.

Historically at this point in the cycle, BTC has been 60-65% below its all-time high price. Currently it is 61% below its ATH.

There is support at $26,000 if prices fall further. But if historical cycles repeat, BTC could drop much lower still.