The cryptocurrency market has been witnessing a rollercoaster ride since 2022. Finally, with Bitcoin’s 4th Halving, the market is experiencing a new turning point. This important event has also caught the attention of popular cryptocurrency analyst Crypto Capo. Capo shares a new analysis of Bitcoin’s price trajectory after the halving and outlines the scenarios that await investors. This analysis is an important resource for Bitcoin investors. Capo’s Bitcoin forecast can help make investment decisions by giving an idea of short-term price movements. However, it should be noted that the cryptocurrency market is highly volatile and these predictions only reflect the opinions of analysts.

Bitcoin forecast attracts attention

Cryptocoin.com As we reported, Crypto Capo, a popular cryptocurrency analyst who stood out with his accurate predictions during the bear season of 2022, could not fully catch Bitcoin’s uptrend in 2023 and 2024. Finally, Capo, who shared a new analysis after the halving in Bitcoin, expects BTC to decline to $ 57,000 – $ 59,000. Here are the important points in Capo’s analysis:

• Halving is Realized: Bitcoin’s 4th halving is complete and miners are no longer receiving as many Bitcoin rewards as before. This may lead miners to sell from their BTC reserves to cover their costs.

• Dead Cat Leap? The recent price spike (up to $65,000) may have been caused by a short liquidation and could be characterized as a “dead cat bounce” rather than the start of a true uptrend.
• Bottom Expected Capo predicts that there is significant liquidity in Bitcoin between $57,000 and $59,000 and that the price will fall back to this region. Depending on the market’s reaction, a local bottom may also form in this region.

Capo encourages traders to be cautious and do their own research when sharing their predictions. It should be noted that the cryptocurrency market is highly volatile and these forecasts only reflect the opinions of analysts. Capo’s prediction may cause concern among Bitcoin investors and lead to a short-term price drop. However, it is also predicted that the halving will push the Bitcoin price up in the long run.

Next halving

The much-talked-about quadrennial halving is in Bitcoin’s code. The event takes place approximately every four years. The first one took place in November 2012, the second in July 2016, the third in May 2020, and the last one on Saturday, April 20, 2024 (at 03:00 am Turkish time). Now that the fourth is out of the way, the fifth will happen when the next 210,000 blocks are mined. This is expected in 2028, but the exact month and date will depend on the rate of network activity.