Analysts Weigh In: Is Bitcoin's Decline a Normal Market Correction?
The recent Bitcoin halving has led to a 20% drop in BTC price over the past three months, sparking concern among investors. However, prominent analysts with large social media followings remain calm, attributing the decline to a routine market correction.
Renowned cryptocurrency expert Rekt Capital views the price retracement as "necessary for the halving cycle," ensuring the market gets back in sync with historical price norms. Real Vision CEO Raoul Pal echoes this sentiment, calling the 20% correction "commonplace" and pointing out similar declines in February, June, and August 2023.
Pal notes that Bitcoin has experienced four 20% corrections in the past year, including the early 2024 decline. Despite the short-term pain, these analysts believe the current dip is a normal market cycle, reassuring investors to maintain a long-term perspective.
Remember, the cryptocurrency market can be volatile, and investors should always be cautious of potential scam risks.
