With Bitcoin (BTC<\/a>) falling nearly 7% in the last week, one widely followed crypto analyst believes the correction is all part of the process.<\/p>\n Digital assets trader Micha\u00ebl van de Poppe\u00a0tells<\/a> his 705,000 followers on the social media platform X that BTC\u2019s downward trend may be a result of a pre-halving peak.<\/p>\n \u201cThe consolidation on Bitcoin continues.\u00a0<\/em><\/p>\n I don\u2019t think we\u2019ll see much spectacle coming from Bitcoin; if we do, it will need to break $70,300.<\/em><\/p>\n Above, there is time for new all-time highs, but I suspect we\u2019re still seeing the case of peaking pre-halving.\u00a0<\/em><\/p>\n Just like any other cycle.\u201d<\/em><\/p>\n The BTC halving refers to the quadrennial event when Bitcoin\u2019s mining rewards are cut in half. The next halving is expected next month.<\/p>\n According to the analyst, BTC\u2019s current\u00a0price chart<\/a>\u00a0is similar to the 2016-2017 cycle chart.<\/p>\n \u201cIn some way, the price action of Bitcoin is comparable to the 2016-2017 cycle.<\/em><\/p>\n Peak four weeks before the halving takes place.<\/em><\/p>\n Consolidation and another correction, after which a slow upward grind happens until acceleration 6 months later.\u201d<\/em><\/p>\n Van de Poppe also\u00a0claims<\/a>\u00a0that BTC\u2019s correction only strengthens his bullish thesis.<\/p>\n \u201cBitcoin still correcting down.\u00a0<\/em><\/p>\n My main thesis is that we\u2019ve seen the pre-halving hype and that we\u2019re going to have a long, massive bull market.<\/em><\/p>\n Anything in the lower boundaries -> buy opportunity.<\/em><\/p>\n Interested in buying dips on altcoins too.\u201d<\/em><\/p>\n BTC is worth $63,873 at time of writing, down 4% in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" With Bitcoin (BTC) falling nearly 7% in the last week, one widely followed crypto analyst believes the correction is all part of the process. Digital assets trader Micha\u00ebl van de Poppe\u00a0tells his 705,000 followers on the social media platform X that BTC\u2019s downward trend may be a result of a pre-halving peak. \u201cThe consolidation on […]<\/p>\n","protected":false},"author":2,"featured_media":235842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-270155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=270155"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270155\/revisions"}],"predecessor-version":[{"id":270157,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270155\/revisions\/270157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/235842"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=270155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=270155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=270155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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