Bitcoin Faces Risk of 45% Price Plunge Ahead of 2024 Halving Event - Analyst
• Bitcoin is approaching its next halving event in April 2024, when miner rewards will be cut in half • Analyst Benjamin Cowen says Bitcoin historically faces a big correction going into the halving event • Cowen expects Bitcoin could fall to test the 100-week simple moving average, around $28,176 • A 45% drop from the 100-week SMA would put Bitcoin back near its prior low of $15,355 • Bitcoin is currently trading around $40,004, down about 3% in the last 24 hours