Bitcoin in the Midst of Pre-Halving Rally, Analyst Says – Watch Out for Dips
A well-known crypto analyst suggests that Bitcoin (BTC) is currently experiencing its pre-halving rally. However, he warns that dips can still occur along the way. According to the analyst, Bitcoin briefly experienced a 14% dip recently. He also highlights that during the 2020 cycle, Bitcoin went through a post-halving slump before going parabolic, and he predicts a similar pattern this year. BTC’s next halving event is scheduled for April, which will result in miners’ rewards being cut in half. At the time of writing, Bitcoin is trading at $67,200.
Dogecoin Confirms New Macro Uptrend After Successful Retest
The same analyst also provides insights on Dogecoin (DOGE), stating that it has confirmed a new macro uptrend after successfully retesting its support level. The analyst’s chart indicates that DOGE could potentially surpass the $0.20 price mark before June. Currently, DOGE is trading at $0.153, showing a 2.5% increase in the last 24 hours.
Hot Take: Pre-Halving Rally Brings Excitement and Caution
The current state of Bitcoin’s pre-halving rally brings both excitement and caution to crypto enthusiasts. While the rally indicates positive momentum for Bitcoin and Dogecoin, it’s important to note that dips can still occur during this phase. Traders and investors need to be aware of potential market fluctuations and exercise caution when making decisions.
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